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.