United Airlines plane parked at Denver International Airport.
Leslie Josephs | CNBC
United AirlinesSecond-quarter profit rose more than 20% from last year as strong demand for international travel boosted the airline’s performance, but its third-quarter forecast was lower than expected as a glut of flights affected fares.
Unity said wednesday The company expects adjusted earnings per share for the quarter of $2.75 to $3.25, below the $3.44 per share expected by analysts polled by LSEG.
Here’s what Manchester United reports second season Compared with Wall Street expectations, according to average estimates compiled by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $4.14, expected $3.93
- income: $14.99 US$15.06 billion vs. US$15.06 billion expected
United earned $1.32 billion, or $3.96 a share, in the three months ended June 30, up from $1.08 billion, or $3.24 a share, in the same period last year. After adjusting for one-time items, United reported second-quarter earnings of $4.14 per share, compared with analysts’ expectations of $3.93.
Revenue was US$14.99 billion, up 5.7% from last year but slightly below expectations.
Unity and Delta AirlinesAirlines reporting results last week were among the standout performers in the airline industry, where most have been grappling with increased domestic capacity in the U.S., which has weighed on airfares.
Both airlines have added international flights, which are in high demand post-pandemic, and are offering premium services such as larger lounges and roomier seats to attract travelers willing to pay more for airfare.
United CEO Scott Kirby said airlines have been cutting flight schedules and there will be a tipping point next month to reduce supply.
“Looking ahead, we see multiple airlines beginning to cancel loss-making capacity and we expect unit revenue performance in the second half of the third quarter to be ahead of our largest peers,” he said.
Tuesday, spirit airlines It lowered its second-quarter forecast, citing lower-than-expected revenue from fees such as seats or baggage. Southwest Airlines and American airlinesThe company reported results on July 25 after lowering its second-quarter forecast.
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