Why United Airlines Stock Is Flying Higher Today
United Airlines Holdings (NASDAQ: UAL) posted a smaller-than-expected quarterly loss and said issues at will not derail its full-year guidance. Investors are cheering the result, sending shares up 11% as of 10 a.m. ET.
United lost $0.15 per share in the quarter on revenue of $12.54 billion, besting Wall Street's consensus estimate for a $0.57-per-share loss on sales of $12.45 billion. The company's pre-tax loss was $164 million, which is a $92 million improvement over the same quarter a year ago.
The results included a $200 million hit related to the impact of the grounding of Boeing MAX 9 jets in the quarter after an incident involving an Alaska Air Group plane. Without that hit, United would have reported a quarterly profit.
Source Fool.com
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