United Continental revenue falls; airline unveils US$2b stock buyback
United Continental Holdings, hurt by a big write-down of the value of its slot portfolio at Newark Liberty International and the fact that it paid taxes this year as opposed to last, reported net income of US$588m, or $1.78 a share, on a 5.2% slide in overall revenue to $9.4b. The airline said Tuesday that excluding the special items, its earnings per share of $2.61 beat Wall Street consensus by a nickel. Its unit revenue declined 6.6%, in line with recent guidance. For the current Q3, United said its unit revenue is expected to be down between 5.5% and 7.5%. And its pre-tax margin should hit 13.5% to 15.5%, as opposed to 14.5% in Q2, within guidance. A year ago, United reported net income of $1.19b, or $3.14 a share, on revenue of $9.9b. Excluding items, the carrier earned $1.3b, or $3.31 a share. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-07-20/star/united-continental-revenue-falls-airline-unveils-us-2b-stock-buyback
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United Continental revenue falls; airline unveils US$2b stock buyback
United Continental Holdings, hurt by a big write-down of the value of its slot portfolio at Newark Liberty International and the fact that it paid taxes this year as opposed to last, reported net income of US$588m, or $1.78 a share, on a 5.2% slide in overall revenue to $9.4b. The airline said Tuesday that excluding the special items, its earnings per share of $2.61 beat Wall Street consensus by a nickel. Its unit revenue declined 6.6%, in line with recent guidance. For the current Q3, United said its unit revenue is expected to be down between 5.5% and 7.5%. And its pre-tax margin should hit 13.5% to 15.5%, as opposed to 14.5% in Q2, within guidance. A year ago, United reported net income of $1.19b, or $3.14 a share, on revenue of $9.9b. Excluding items, the carrier earned $1.3b, or $3.31 a share. <br/>
