United Airlines Holdings, Inc. (NYSE: UAL) reported a decline in adjusted earnings for the second quarter of 2024 when the company’s revenues increased year-over-year. The bottom line came in above analysts’ estimates.
Net income per share, excluding one-off items, decreased to $4.14 per share in the June quarter from $5.03 per share in the corresponding period a year earlier. Earnings beat analysts’ estimates. On an unadjusted basis, net income was $1.32 billion or $3.96 per share in Q2, vs. $1.08 billion or $3.24 per share in the year-ago quarter.
Meanwhile, second-quarter operating revenues increased to $14.99 billion from $14.18 billion in the comparable period of 2023.
“The revenue diversity advantages that we’ve built with our premium customers, Basic Economy customers, and domestic road warriors, on top of the world’s best loyalty program and leading customer service, have propelled our margins to near the top of the industry,” said the company’s CEO Scott Kirby.