United Airlines Holdings Inc UAL shares are volatile in Tuesday's after-hours session after the airline company reported first-quarter financial results.
What Happened: United reported first-quarter revenue of $11.43 billion, which beat average analyst estimates of $11.42 billion, according to Benzinga Pro. The company reported a quarterly adjusted loss of 63 cents per share, which beat estimates for a loss of 73 cents per share.
Operating revenue was up 51.1% year-over-year and total revenue per available seat mile was up 22.5%.
"Our industry-leading operational performance contributed to an all-time high operating cash flow in the first quarter and keeps us on track to achieve our cost targets for the full year," said Scott Kirby, CEO of United Airlines.
"We are watching the macroeconomic risks carefully, but demand remains strong, especially internationally, where we are growing at twice the domestic rate."
United sees second-quarter earnings in a range of $3.50 to $4 per share versus estimates of $3.65 per share. The airline expects full-year adjusted earnings to be between $10 and $12 per share versus estimates of $8.73 per share.
United will hold a conference call to discuss these results at 10:30 a.m. ET Wednesday.
UAL Price Action: United has a 52-week high of $55.04 and a 52-week low of $31.58.
The stock initially fell on the report before bouncing back. It was down 0.12% after hours at $42.99, according to Benzinga Pro.
Photo: pkozmin from Pixabay.
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