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Compared to Estimates, United (UAL) Q1 Earnings: A Look at Key Metrics
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United Airlines (UAL - Free Report) reported $12.54 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.7%. EPS of -$0.15 for the same period compares to -$0.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.43 billion, representing a surprise of +0.89%. The company delivered an EPS surprise of +71.70%, with the consensus EPS estimate being -$0.53.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how United performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average aircraft fuel price per gallon: $2.88 versus the five-analyst average estimate of $3.
Total revenue per available seat mile (TRASM): 17.5 cents compared to the 17.38 cents average estimate based on five analysts.
ASMs (Available seat miles): 71,668 million versus the five-analyst average estimate of 71,613.58 million.
PRASM (Passenger revenue per available seat mile): 15.79 cents versus the five-analyst average estimate of 15.79 cents.
Passenger load factor - Consolidated: 80.1% versus 82.2% estimated by five analysts on average.
RPMs (Revenue passenger miles): 57,427 million compared to the 59,399.92 million average estimate based on four analysts.
Fuel gallons consumed: 1,025 MGal versus 991.09 MGal estimated by four analysts on average.
Average yield per RPM: 19.7 cents compared to the 19.08 cents average estimate based on four analysts.
CASM-ex (excluding special charges, third-party business expenses, fuel, and profit sharing): 13.13 cents versus 13.18 cents estimated by four analysts on average.
Operating revenue- Passenger revenue: $11.31 billion versus the six-analyst average estimate of $11.27 billion. The reported number represents a year-over-year change of +10.1%.
Operating revenue- Other operating revenue: $835 million versus $789.66 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +10.3% change.
Operating revenue- Cargo: $391 million versus the six-analyst average estimate of $361.57 million. The reported number represents a year-over-year change of -1.8%.
Shares of United have returned -5.8% over the past month versus the Zacks S&P 500 composite's -0.9% 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) Q1 Earnings: A Look at Key Metrics
United Airlines (UAL - Free Report) reported $12.54 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.7%. EPS of -$0.15 for the same period compares to -$0.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.43 billion, representing a surprise of +0.89%. The company delivered an EPS surprise of +71.70%, with the consensus EPS estimate being -$0.53.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how United performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average aircraft fuel price per gallon: $2.88 versus the five-analyst average estimate of $3.
- Total revenue per available seat mile (TRASM): 17.5 cents compared to the 17.38 cents average estimate based on five analysts.
- ASMs (Available seat miles): 71,668 million versus the five-analyst average estimate of 71,613.58 million.
- PRASM (Passenger revenue per available seat mile): 15.79 cents versus the five-analyst average estimate of 15.79 cents.
- Passenger load factor - Consolidated: 80.1% versus 82.2% estimated by five analysts on average.
- RPMs (Revenue passenger miles): 57,427 million compared to the 59,399.92 million average estimate based on four analysts.
- Fuel gallons consumed: 1,025 MGal versus 991.09 MGal estimated by four analysts on average.
- Average yield per RPM: 19.7 cents compared to the 19.08 cents average estimate based on four analysts.
- CASM-ex (excluding special charges, third-party business expenses, fuel, and profit sharing): 13.13 cents versus 13.18 cents estimated by four analysts on average.
- Operating revenue- Passenger revenue: $11.31 billion versus the six-analyst average estimate of $11.27 billion. The reported number represents a year-over-year change of +10.1%.
- Operating revenue- Other operating revenue: $835 million versus $789.66 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +10.3% change.
- Operating revenue- Cargo: $391 million versus the six-analyst average estimate of $361.57 million. The reported number represents a year-over-year change of -1.8%.
View all Key Company Metrics for United here>>>Shares of United have returned -5.8% over the past month versus the Zacks S&P 500 composite's -0.9% 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.