United Airlines stock gains after company raises outlook, tops profit views
Shares of United Airlines Holdings Inc. UAL, +1.05% rose 3% in the extended session Tuesday after the airline reported an adjusted third-quarter profit above Wall Street expectations and raised guidance for the year. United said it earned $1 billion, or $3.99 a share, in the quarter, compared with $833 million, or $3.05 a share, in the year-ago quarter. Adjusted for one-time items, United earned $4.07 a share, compared with $3.05 a share a year ago.
The company reported operating revenue of $11.38 billion in the quarter, compared with $11.00 billion a year ago. Analysts polled by FactSet expected United to report adjusted earnings of $3.97 a share on sales of $11.42 billion. United raised its full year 2019 adjusted EPS guidance to a range between $11.25 and $12.25. The company is "ahead of pace" to reach its goal of an adjusted EPS between $11 and $13 by the end of 2020, Chief Executive Oscar Munoz said in a statement.
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