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United Continental Holdings Inc Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $448 million ($1.36 per diluted share) from $213 million (loss of 65 cents per share) in the same quarter a year earlier.
Revenue: Rose 4.9% to $8.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: United Continental Holdings Inc reported an adjusted net loss of 87 cents per share. By that measure, the company beat the mean analyst estimate of a loss of $1.11 per share. Analysts were expecting revenue of $8.62 billion.
Quoting Management: “This was a difficult quarter, but we made significant progress with our integration and we’re now able to serve our customers as a single airline,” said Jeff Smisek, UAL’s president and chief executive officer. “I want to recognize my co-workers for their hard work during a challenging time, and thank our customers for their continuing support. We are now on the steep back slope of our integration and can look forward to delivering more benefits from the merger in the remainder of the year.”
Revenue has increased for four consecutive quarters. Revenue increased 5.9% to $8.93 billion in the fourth quarter of the last fiscal year. The figure rose 88.6% in the third quarter of the last fiscal year from the year earlier and climbed 90.1% in the second quarter of the last fiscal year from the year-ago quarter.
The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of 30 cents versus a mean estimate of net income of 14 cents per share.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from $2.11 a share to $1.79 over the last sixty days. The average estimate for the fiscal year is $4.05 per share, down from $5.14 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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