United reports their fifth consecutive quarterly loss
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport in Burlingame, California on March 13, 2019.
Justin Sullivan | Getty Images
United Airlines reported its fifth straight quarterly loss on Monday, although demand for travel has improved recently as vaccinations surge and governments relax travel restrictions.
The company posted a net loss of $ 1.36 billion on revenue of $ 3.22 billion in the first quarter, a decrease of nearly 60 percent from revenue of nearly $ 8 billion in the first quarter of 2019 at $ 7.50, above the expected loss of $ 7.08 per share.
United shares fell 1.6% in after-hours trading.
Here’s how United performed in the first quarter compared to Wall Street’s expectations, based on Refinitiv’s average estimates:
- Adapted EPS: a loss of $ 7.50 versus an expected loss of $ 7.08 per share
- Total sales: $ 3.22 billion versus expected $ 3.26 billion in revenue
Company executives will discuss the findings on Tuesday at 10:30 am ET.
This is the latest news. Check for updates again.