Why United Airlines Stock Is Moving Higher Thursday

United Airlines Holdings Inc UAL shares are trading higher Thursday after the company reported better-than-expected quarterly results and issued strong guidance.

What Happened: United Airlines said second-quarter revenue increased 17.1% year-over-year to $14.18 billion, which beat the consensus estimate of $13.91 billion, according to Benzinga Pro. 

The airline company reported quarterly earnings of $5.03 per share, which beat estimates of $4.03 per share. 

United said capacity was up 17.5% year-over-year, while TRASM fell 0.4%.

"The United team persevered through an unprecedented series of events at the end of last month," said Scott Kirby, CEO of United.

"United's financial performance in the second quarter and our outlook for the remainder of the year and beyond make it clear that United Next is working and is the right strategy at the right time."

United Airlines said it expects full-year 2023 earnings to be in a range of $11 to $12 per share versus estimates of $9.73 per share. Third-quarter earnings are expected to be between $3.85 and $4.35 per share. 

United sees capacity up approximately 18% on a full-year basis. 

From Last Month: He Spent $290K On Unlimited Pass With Airline: 'Best Investment Of My Life' Has Turned Into Flights To 100 Countries

UAL Price Action: United shares were up 2.34% at $56.08 at the time of writing, according to Benzinga Pro.

Photo: courtesy of United Airlines.