On Wednesday, shares of airline leader United Continental (UAL - Free Report) are gaining, up over 4% to $80.11 per share in morning trading after the company reported positive traffic numbers for the month of June.
United said that June consolidated traffic in terms of revenue per passenger mile rose 3.4%, while consolidated capacity grew 5% compared to the prior year period.
The airliner also said that second-quarter passenger unit revenue, which is an important metric for the industry, should hit in the middle of its forecast range, rising about 2%. United expects unit revenue to increase between 1%-3%.
"Last month's performance capped off an exceptional first half for our operation, and we look to continue this momentum through the second half of the year and beyond," President Scott Kirby said in a statement.
However, United added that the overall trans-Pacific market continued to face “incremental weakness due to unfavorable supply and demand dynamics in China and Hong Kong.” But other than this market, all regions performed in line with to slightly better than original expectations.
United’s announcement follows that of Delta Airlines (DAL - Free Report) , who said last week that its own unit revenue had risen roughly 2.5%, falling at the higher end of its forecast range. And on Monday, Southwest Airlines (LUV - Free Report) reiterated its guidance for unit revenue growth of 1%-2%.
UAL is currently a #1 (Strong Buy) on the Zacks Rank, with a VGM score of ‘C.’ The airline is set to report its second-quarter earnings on July 18 after the bell. Zacks expects United to report earnings of $2.23 per share and sales of $9.88 billion for the period.
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On Wednesday, shares of airline leader United Continental (UAL - Free Report) are gaining, up over 4% to $80.11 per share in morning trading after the company reported positive traffic numbers for the month of June.
United said that June consolidated traffic in terms of revenue per passenger mile rose 3.4%, while consolidated capacity grew 5% compared to the prior year period.
The airliner also said that second-quarter passenger unit revenue, which is an important metric for the industry, should hit in the middle of its forecast range, rising about 2%. United expects unit revenue to increase between 1%-3%.
"Last month's performance capped off an exceptional first half for our operation, and we look to continue this momentum through the second half of the year and beyond," President Scott Kirby said in a statement.
However, United added that the overall trans-Pacific market continued to face “incremental weakness due to unfavorable supply and demand dynamics in China and Hong Kong.” But other than this market, all regions performed in line with to slightly better than original expectations.
United’s announcement follows that of Delta Airlines (DAL - Free Report) , who said last week that its own unit revenue had risen roughly 2.5%, falling at the higher end of its forecast range. And on Monday, Southwest Airlines (LUV - Free Report) reiterated its guidance for unit revenue growth of 1%-2%.
UAL is currently a #1 (Strong Buy) on the Zacks Rank, with a VGM score of ‘C.’ The airline is set to report its second-quarter earnings on July 18 after the bell. Zacks expects United to report earnings of $2.23 per share and sales of $9.88 billion for the period.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9x stock explosion after they launched their iPhone in 2007? Now, 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could, in turn, save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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