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Compared to Estimates, United (UAL) Q2 Earnings: A Look at Key Metrics
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United Airlines (UAL - Free Report) reported $14.18 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 17.1%. EPS of $5.03 for the same period compares to $1.43 a year ago.
The reported revenue represents a surprise of +1.80% over the Zacks Consensus Estimate of $13.93 billion. With the consensus EPS estimate being $3.99, the EPS surprise was +26.07%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how United performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total revenue per available seat mile: 19.28 cents versus 18.75 cents estimated by seven analysts on average.
Average fuel price per gallon: $2.66 versus the seven-analyst average estimate of $2.81.
Available seat miles (ASMs): 73538 million versus 74266.05 million estimated by seven analysts on average.
Passenger revenue per available seat mile: 17.68 cents compared to the 17.09 cents average estimate based on seven analysts.
Fuel gallons consumed: 1062 MGal compared to the 1056.49 MGal average estimate based on six analysts.
Cost per available seat mile (CASM): 17.22 cents compared to the 15.29 cents average estimate based on six analysts.
Passenger load factor: 86.4% versus 84.6% estimated by six analysts on average.
Average yield per revenue passenger mile: 20.46 cents versus 20.25 cents estimated by five analysts on average.
CASM, excluding special charges, third-party business expenses, fuel, and profit sharing: 11.85 cents versus 11.84 cents estimated by five analysts on average.
Operating revenue- Total passenger revenue: $13 billion versus $12.67 billion estimated by nine analysts on average.
Operating revenues- Other: $814 million versus $772.05 million estimated by nine analysts on average.
Operating revenue- Cargo: $362 million compared to the $453.97 million average estimate based on nine analysts.
Shares of United have returned +4% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, United (UAL) Q2 Earnings: A Look at Key Metrics
United Airlines (UAL - Free Report) reported $14.18 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 17.1%. EPS of $5.03 for the same period compares to $1.43 a year ago.
The reported revenue represents a surprise of +1.80% over the Zacks Consensus Estimate of $13.93 billion. With the consensus EPS estimate being $3.99, the EPS surprise was +26.07%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how United performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total revenue per available seat mile: 19.28 cents versus 18.75 cents estimated by seven analysts on average.
- Average fuel price per gallon: $2.66 versus the seven-analyst average estimate of $2.81.
- Available seat miles (ASMs): 73538 million versus 74266.05 million estimated by seven analysts on average.
- Passenger revenue per available seat mile: 17.68 cents compared to the 17.09 cents average estimate based on seven analysts.
- Fuel gallons consumed: 1062 MGal compared to the 1056.49 MGal average estimate based on six analysts.
- Cost per available seat mile (CASM): 17.22 cents compared to the 15.29 cents average estimate based on six analysts.
- Passenger load factor: 86.4% versus 84.6% estimated by six analysts on average.
- Average yield per revenue passenger mile: 20.46 cents versus 20.25 cents estimated by five analysts on average.
- CASM, excluding special charges, third-party business expenses, fuel, and profit sharing: 11.85 cents versus 11.84 cents estimated by five analysts on average.
- Operating revenue- Total passenger revenue: $13 billion versus $12.67 billion estimated by nine analysts on average.
- Operating revenues- Other: $814 million versus $772.05 million estimated by nine analysts on average.
- Operating revenue- Cargo: $362 million compared to the $453.97 million average estimate based on nine analysts.
View all Key Company Metrics for United here>>>Shares of United have returned +4% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.