Categories AlphaGraphs, Earnings, Other Industries
United Continental (UAL) slips to a loss in Q2 on lower revenues
United Continental Holdings Inc (NASDAQ: UAL) reported a net loss for the second quarter of 2020 as COVID-related disruptions continued to impact operations. The bottom-line missed Wall Street’s projection, while revenues topped.
On an adjusted basis, the company reported a loss of $9.31 per share for the June-quarter, compared to earnings of $4.21 per share last year. The bottom line missed the consensus forecast. The net loss was $1.63 billion or $5.79 per share, while in the year-ago quarter the company recorded earnings of $1.05 billion or $4.02 per share.
The deterioration in the bottom-line performance reflects an 87% fall in revenues to $1.48 billion. Analysts were looking for a bigger decline.
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