United Continental (NYSE:UAL) unveiled strong quarterly earnings results that surpassed what Wall Street expected in its consensus estimate, lifting UAL stock more than 2.5% after the bell today.
The Chicago, Ill.-based airline operator posted first-quarter earnings of $292 million, or $1.09 per share to kick off its fiscal 2019. This figure was more than double than the $145 million, or 51 cents per share, it brought in during the same period in 2018.
On an adjusted basis, United amassed earnings of $1.15 per share, 20 cents per share above what analysts projected, according to a Refinitiv survey. Revenue tallied up to $9.59 billion, a 6.2% increase from the $9.03 billion of the year-ago quarter, but falling below the $9.61 billion that Wall Street called for, per Refinitiv.
The company added that its revenue for each passenger it flies a mile — which is a key industry figure — was up 1.1% year-over-year, but it was below the 1.5% gain that analysts predicted. United also reiterated its guidance for its fiscal 2019, which is slated to arrive between $10 and $12 per share.
The airline also said that for its fiscal 2020, it now sees its earnings as being somewhere in the range of $11 and $13 per share.
UAL stock is up about 2.9% after the bell thanks to the company’s strong earnings showing for its first three months of the fiscal year. Shares had been up about 0.8% during United’s regular trading hours on Tuesday.
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