Categories AlphaGraphs, Earnings, Industrials, LATEST
Earnings: United Airlines (UAL) posts wider-than-expected Q3 loss; stock drops
United Airlines Holdings, Inc. (NASDAQ: UAL) slipped to a loss in the third quarter of 2020 from a profit last year as the COVID-related disruption continued to impact operations. The results also missed Wall Street’s projection and the aviation firm’s stock declined on Wednesday evening, following the report.
On an adjusted basis, the company reported a loss of $8.16 per share for the September-quarter, compared to earnings of $4.07 per share last year. The bottom line also missed the consensus forecast. The net loss was $1.84 billion or $6.33 per share, which marked a deterioration from the year-ago quarter when the company recorded earnings of $1.02 billion or $3.99 per share.
Read management/analysts’ comments on United Airlines’ Q3 2020 results
The weak bottom-line performance reflects a 78% fall in operating revenues to $2.49 billion. Analysts were looking for a slower decline.
The company’s stock closed Wednesday’s regular session slightly higher but lost sharply during the after-hours soon after the earnings announcement.
Most Popular
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's
