A busy summer pushes United Airlines to a $1.14 billion profit, but fuel cost will hurt 4Q results
The summer travel season was very good for U.S. airlines, but rising fuel prices are setting up a turbulent fourth quarter
By Associated Press
Published - Oct 17, 2023, 04:48 PM ET
Last Updated - Oct 17, 2023, 04:48 PM EDT
United Airlines said Tuesday that it earned $1.14 billion in the vacation-heavy third quarter, but the airline forecast surprisingly weak profit the rest of the year due to surging jet fuel prices.
United said fourth-quarter adjusted profit would be between $1.50 and $1.80 per share, well below Wall Street expectations for $2.09 per share.
The third quarter, however, was strong all around for the Chicago-based airline. United said after the market closed Tuesday that revenue increased more than 12% over the same period last year, led by international flights.
United said it set quarterly profit records for service to both Europe and Asia, as more Americans traveled beyond U.S. borders. Domestic revenue also grew, though not as much.
