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United Airlines (UAL) Shares Rise 58.9% in a Year: Here's How
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United Airlines Holdings, Inc. (UAL - Free Report) is being aided by buoyant air-travel demand and its goal of achieving net-zero emissions by 2050.
Shares of UAL have gained 58.9% in the past year compared with 33.8% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Owing to buoyant air-travel demand, United Airlines posted a significant year-over-year increase (about 51.1%) in first-quarter 2023 revenues. This was driven by a 61.8% rise in passenger revenues (accounting for 89.8% of the top line) to $10,274 million.
Owing to robust air-travel demand, UAL expects revenues for the June quarter to grow 14-16% year over year. Also, it projects second-quarter earnings per share in the $3.50-$4.00 band. For full-year 2023, United Airlines anticipates earnings per share to be between $10 and $12.
In line with its goal of achieving net-zero emissions by 2050 without relying on traditional carbon offsets, United Airlines operated the first ever commercial flight using 100% sustainable aviation fuel in one of its two engines. The fuel was supplied by World Energy, North America's only commercial biofuel producer.
Solid Growth Score & Favorable Estimate Revision
UAL has an impressive Growth Score of A. This style score condenses all the essential metrics from a company’s financial statements to get a true sense of the quality and sustainability of its growth.
Driven by the above tailwinds, earnings estimates for 2023 have been revised upward by 17.8% to $9.68 per share in the past 90 days. Second-quarter 2023 earnings estimates have also revised upward by 44% to $3.96 per share in the past 90 days.
Zacks Rank & Stocks to Consider
UAL currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Copa Holdings, S.A. (CPA - Free Report) and Triton International Limited .
Copa Holdings, which presently flaunts a Zacks Rank #1 (Strong Buy), is aided by improved air-travel demand. We are encouraged by the company’s initiatives to modernize its fleet. CPA's focus on its cargo segment is also impressive. You can see the complete list of today’s Zacks #1 Rank stocks here.
For second-quarter and full-year 2023, CPA’s earnings are expected to register 862.5% and 84.14% surge, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2 (Buy), is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. TRTN’s current ratio (a measure of liquidity) was 3.97 at the end of first-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
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United Airlines (UAL) Shares Rise 58.9% in a Year: Here's How
United Airlines Holdings, Inc. (UAL - Free Report) is being aided by buoyant air-travel demand and its goal of achieving net-zero emissions by 2050.
Shares of UAL have gained 58.9% in the past year compared with 33.8% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Owing to buoyant air-travel demand, United Airlines posted a significant year-over-year increase (about 51.1%) in first-quarter 2023 revenues. This was driven by a 61.8% rise in passenger revenues (accounting for 89.8% of the top line) to $10,274 million.
Owing to robust air-travel demand, UAL expects revenues for the June quarter to grow 14-16% year over year. Also, it projects second-quarter earnings per share in the $3.50-$4.00 band. For full-year 2023, United Airlines anticipates earnings per share to be between $10 and $12.
In line with its goal of achieving net-zero emissions by 2050 without relying on traditional carbon offsets, United Airlines operated the first ever commercial flight using 100% sustainable aviation fuel in one of its two engines. The fuel was supplied by World Energy, North America's only commercial biofuel producer.
Solid Growth Score & Favorable Estimate Revision
UAL has an impressive Growth Score of A. This style score condenses all the essential metrics from a company’s financial statements to get a true sense of the quality and sustainability of its growth.
Driven by the above tailwinds, earnings estimates for 2023 have been revised upward by 17.8% to $9.68 per share in the past 90 days. Second-quarter 2023 earnings estimates have also revised upward by 44% to $3.96 per share in the past 90 days.
Zacks Rank & Stocks to Consider
UAL currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Copa Holdings, S.A. (CPA - Free Report) and Triton International Limited .
Copa Holdings, which presently flaunts a Zacks Rank #1 (Strong Buy), is aided by improved air-travel demand. We are encouraged by the company’s initiatives to modernize its fleet. CPA's focus on its cargo segment is also impressive. You can see the complete list of today’s Zacks #1 Rank stocks here.
For second-quarter and full-year 2023, CPA’s earnings are expected to register 862.5% and 84.14% surge, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2 (Buy), is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. TRTN’s current ratio (a measure of liquidity) was 3.97 at the end of first-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.