Revenue grew by 6% to $11.40 billion. Total passenger revenue increased 6.1%.
Looking ahead, the company raised the mid-point of full-year 2019 adjusted earnings guidance to a new range of $10.50 to $12 per share from the current forecast of $10 to $12 per share. Adjusted capital expenditures are anticipated to be about $4.9 billion.
The company unveiled next paint design, which brings a refreshed look to its fleet, serving as a visual representation of the airline’s ongoing brand evolution. During the quarter, United Airlines took delivery of two Boeing 787-10 aircraft, two used Airbus A319 aircraft, and seven Embraer E175 aircraft operated by its regional partners. The company signed agreement to buy 19 used Boeing 737-700 aircraft with deliveries expected beginning in December.
For the second quarter, consolidated passenger revenue per available seat mile increased by 2.5% year-over-year, while consolidated unit cost per available seat miles declined by 0.4%. Revenue passenger miles grew by 5.1% and available seat miles rose by 3.6%. Consolidated passenger load factor increased by 1.2 points.
Also read: Will Boeing 737 Max take off again this year?
On July 15, 2019, the company’s board of directors authorized a new $3 billion share repurchase program. The company had repurchased $536 million of its common shares in the second quarter of 2019, at an average purchase price of $84.07 per share.
United’s peers American Airlines (NASDAQ: AAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) will be reporting their quarterly results on July 25. Last week, Delta Air Lines (NYSE: DAL) reported better-than-expected revenue and earnings for the second quarter of 2019.
Shares of United Airlines ended Tuesday’s regular session up 2.85% at $93.92 on the Nasdaq. Following the earnings release, the stock rose 0.78% in the after-market session.
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