From CNBC: 2024-10-15 18:41:07

United Airlines has announced a $1.5 billion share buyback program after surpassing earnings expectations for the summer travel season. The carrier forecasts strong results for the fourth quarter, with adjusted earnings expected to be between $2.50 to $3.00 per share. This marks the first share buyback since the onset of the pandemic.

In the third quarter, United reported revenue of $14.84 billion, up 2.5% from the previous year, and net income of $965 million. Domestic unit revenue showed positive growth in August and September compared to last year, with a 4.1% capacity expansion in the third quarter. Corporate revenue rose 13% and premium revenue increased by 5%.

Additionally, United Airlines unveiled plans for expansion next year, including new flights to Mongolia, Senegal, Spain, and Greenland. Adjusted earnings per share were reported at $3.33, exceeding Wall Street’s forecasts. Executives will address analysts’ questions on demand for the upcoming months and Boeing’s recent production issues due to a machinist strike.



Read more at CNBC: United Airlines (UAL) 3Q 2024 earnings