United Airlines Shares Drop 7% Following Q2 Earnings Miss
2022.07.21 01:26
United Airlines (UAL) Shares Drop 7% Following Q2 Earnings Miss
By Davit Kirakosyan
United Airlines (NASDAQ:UAL) shares dropped around 7% after-hours Wednesday following the airlines Q2 results, with EPS of $1.43 coming in worse than the consensus estimate of $1.86. Revenue grew 6% year-over-year to $12.1 billion, compared to the consensus estimate of $12.06 billion.
Q2 revenue improved at a rapid pace, representing the highest second-quarter revenue in the company’s history, and while the company anticipates the economy will slow in the near to medium term, the continuing pandemic recovery is more than offsetting economic headwinds – leading to expected revenue and earnings acceleration in Q2. As a result, the company reiterates its expectation to be profitable for the full 2022 year.
