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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.

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