United Airlines (UAL) Tops Q3 EPS by 27c

United Airlines (NASDAQ: UAL) reported Q3 EPS of ($1.02), $0.27 better than the analyst estimate of ($1.29). Revenue for the quarter came in at $7.8 billion versus the consensus estimate of $7.85 billion.

Outlook:

• Expects fourth quarter 2021 capacity to be down approximately 23% versus fourth quarter 2019.5
• Expects fourth quarter 2021 total revenue to be down 25% to 30% versus the fourth quarter 2019.
• Expects fourth quarter 2021 CASM-ex1 to be up 12% to 14% compared to fourth quarter 2019.
• Estimates fourth quarter 2021 fuel price of approximately $2.39 per gallon.6
• Continues to expect 2022 CASM-ex1 to be lower than 2019.
• Expects 2022 capacity to be up approximately 5% versus 2019 driven by international growth.
• Expects adjusted capital expenditures2 to be around $3 billion in full year 2021.
• Expects adjusted diluted earnings per share2 in 2026 of around $20 assuming the same number of diluted shares outstanding as of September 30, 2021. United Next assumes 2026 TRASM remains down around 1% versus 2019.
• Remains on track to achieve long term financial targets from United Next plan.7

For earnings history and earnings-related data on United Airlines (UAL) click here.

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