United Airlines expects Higher Profits as Third-quarter Earnings Exceed Expectations

United Airlines

After announcing higher-than-expected third-quarter profitability thanks to a healthy comeback in travel demand, United Airlines Holdings estimated a profit for the current quarter far above Wall Street projections on Tuesday.

In extended trading, its shares were up nearly 7% to $39.73.

The Chicago-based airline recorded an adjusted profit of $2.81 per share for the third quarter, above analysts’ forecasts by 53 cents. This was the company’s strongest quarter since the third quarter of 2019, right before the COVID-19 epidemic struck.

United Club anticipates an adjusted profit of $2.00 to $2.25 per share in the fourth quarter through December, based on a 24% to 25% increase in total revenue per available seat mile over the same time last year.

The business stated that it is still optimistic about meeting its adjusted pre-tax margin target of 9% in 2023.

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