United Airlines Results Beat in Q2; Touts Profitability for Q3

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United Airlines Results Beat in Q2; Touts Profitability for Q3
Credit: © Reuters.

By Yasin Ebrahim

Investing.com - United Airlines Holdings (NASDAQ: UAL ) reported Tuesday second quarter earnings that beat analysts' expectations, and said it expected to report profitability in the third quarter.

United Airlines Holdings shares lost 1.3% in after-hours trade following the report.

United Airlines Holdings announced a loss per share of $3.91 on revenue of $5.47 billion. Analysts polled by Investing.com anticipated a loss of $4.21 a share on revenue of $5.25 billion.

Reported second quarter 2021 total revenue per available seat mile fell 11.3% compared to second quarter 2019, with capacity down 46%.

Looking ahead, the company said it expects third quarter 2021 adjusted pre-tax income to be positive. That would mark the first quarter of positive adjusted pre-tax income since the fourth quarter 2019.

Third quarter 2021 capacity is expected to be down around 26% compared to third quarter 2019, up 39% quarter over quarter. Cost per available seat mile for Q3, excluding fuel, profit sharing, third-party business expenses, and special charges is forecast to be up approximately 17% compared to third quarter 2019.

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