What Comeback? United Continental Disappoints Again
On Tuesday afternoon, United Continental (NYSE: UAL) released its second-quarter earnings results. Adjusted earnings per share reached $2.75: up about 5% year over year and comfortably above the average analyst estimate of $2.63.
Nevertheless, United Continental's earnings report wasn't cause for celebration. First, the company's profit margin continues to decline. Second, United isn't making any tangible progress in catching up to industry leader Delta Air Lines (NYSE: DAL) in terms of profitability.
Entering the second quarter, United Continental projected that it would earn a pre-tax margin of 10% to 12% for the full quarter. However, it boosted its guidance twice during the quarter. By last week, it had raised its forecast range to 12.5% to 13.5%.
Source: Fool.com
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