United Continental (UAL) Q2 Earnings, Revenue Beat Estimates

United Continental Holdings Inc. UAL just released its second quarter fiscal 2016 earnings results, posting earnings of $2.61 per share (excluding special items) and revenue of $9.4 billion. 

Currently, UAL has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

United Continental:                          

1. Beat earnings estimates. The company posted earnings of $2.61 per share ($1.78 per diluted share), surpassing the Zacks Consensus Estimate of $2.53 per share. This number inexcludes special items.

2. Beat revenue estimates. The company saw revenue figures of $9.4 billion, topping our consensus estimate of $9.375 billion and decreasing 5.2% year-over-year.

3. Posted total operating expenses (including special charges) of $8.3 billion in Q2, down 1.6% year-over-year.

4. Reported Q2 consolidated passenger revenue per available seat mile (PRASM) decreased 6.6% while consolidated yield decreased 6.1% compared to the second quarter of 2015. The decline in PRASM is a result of a strong U.S. dollar, lower surcharges, travel reductions from customers impacted by declining oil prices, competitive actions, and higher-yielding demand not keeping pace with industry capacity.

5. UAL was up $0.41, or 0.86%, to $48.26 as of 4:32 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at United Continental’s price, consensus, and EPS surprise:

 

UNITED CONT HLD Price, Consensus and EPS Surprise

UNITED CONT HLD Price, Consensus and EPS Surprise | UNITED CONT HLD Quote

 

 

United Continental Holdings, Inc. is the holding company for United Airlines and Continental Airlines. The Company operates its businesses through two reporting segments: Mainline and Regional Affiliates. The Company manages its business as an integrated network with assets deployed across its Mainline and regional carrier networks. Together with United Express, Continental Express and Continental Connection, these airlines operate throughout the Americas, Europe, Asia and Africa from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York, San Francisco, Tokyo and Washington, D.C. United Continental is headquartered in Chicago.

Check back later for our full analysis onUAL’s second quarter earnings report!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
UNITED CONT HLD (UAL): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research