United Continental Earnings: UAL Stock Surges on Q4 Revenue Beat
United Continental earnings (NYSE:UAL) were released late in the day on Tuesday, coming in ahead of what analysts were calling for in the Wall Street consensus estimate on the revenue front, helping to send UAL stock up after hours.
The United Airlines parent company said that its revenue for its fourth quarter of its fiscal 2018 came in at $10.49 billion, topping the $10.34 billion that analysts were calling for, according to data compiled by Refinitiv. On the earnings front, the company underwhelmed as its net income went down 20% compared to the year-ago quarter to $462 million due to a rise in costs.
United Continental said that its fuel bill for the period was roughly 27% higher than it was during its fourth quarter of fiscal 2017. The airline operator that on an adjusted basis, it brought in earnings of $2.41 per share, which is stronger than the $2.04 per share that analysts were calling for.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
For its first quarter of its fiscal 2019, the company projects its adjusted earnings to come in at $1 per share, topping analysts’ guidance of 84 cents per share. For the fiscal year, United Continental sees its earnings in the range of $10 to $12 per share on an adjusted basis, meeting the guidance.
UAL stock soared about 6.2% after the bell on Tuesday following the company’s strong quarterly earnings showing. Shares had gained about 1.6% during regular trading hours in anticipation of the company’s results.
More From InvestorPlace
The post United Continental Earnings: UAL Stock Surges on Q4 Revenue Beat appeared first on InvestorPlace.
