United Airlines Holdings, Inc. (NYSE: UAL) Tuesday reported a net profit for the third quarter of 2022, compared to a loss last year, reflecting the continued recovery in demand. The results also topped expectations.
The aviation giant reported net earnings of $2.81 per share for the September quarter, on an adjusted basis, compared to a loss of $1.02 per share last year. On an unadjusted basis, it was a net income of $942 million or $2.86 per share for the third quarter, compared to $473 million or $1.44 per share in the comparable period of 2021. The latest number also came in above the Street view.
Driving the bottom line growth, third-quarter operating revenues jumped 66% year-over-year to $12.88 billion. Analysts were looking for slower growth.
Check this space to read management/analysts’ comments on UAL’s Q3 results
“Despite growing concerns about an economic slowdown, the ongoing COVID recovery trends at United continue to prevail and we remain optimistic that we’ll continue to deliver strong financial results in the fourth quarter, 2023, and beyond,” said United Airlines’ CEO Scott Kirby.