NASDAQ$UAL

United Airlines Holdings Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

United Airlines achieved its 2020 adjusted EPS target one year ahead of schedule and reported Q4 net income of $641 million.

United Airlines reached its 2020 adjusted EPS target of $11 to $13 a full year ahead of schedule. The company reported a fourth quarter net income of $641 million, diluted EPS of $2.53, and pre-tax earnings of $844 million.

  • Reported fourth quarter net income of $641 million, diluted EPS of $2.53, up 50% versus the fourth quarter of 2018.
  • Reported fourth quarter adjusted net income of $676 million, adjusted diluted EPS of $2.67, up 11% versus the fourth quarter of 2018.
  • Consolidated fourth quarter passenger revenue per available seat mile (PRASM) increased 0.8 percent year-over-year.
  • Consolidated fourth quarter unit cost per available seat mile (CASM) decreased 1.3 percent year-over-year.

Headline financials

Total Revenue

$10.9B

Previous: $10.5B+3.8%
EPS (adj)

$2.67

Previous: $2.41+10.8%
PRASM

0.14

Previous: 0.139+0.8%
CASM

0.141

No prior period
Load Factor

82.5%

Previous: 82.7%-0.2%
Passenger Yield

0.169

Previous: 0.168+1.0%
Passengers

40.3M

No prior period
ASMs

71.0B

No prior period
RPMs

58.6B

No prior period
Stage Length

1.4K

No prior period
Net Income

$641M

Previous: $462M+38.7%
Operating Income

$861M

Previous: $652M+32.1%
Gross Profit

$3.04B

Previous: $2.86B+6.3%
Cash & Equivalents

$2.76B

Previous: $1.69B+63.0%
Total Assets

$52.6B

Previous: $49B+7.3%

Revenue & EPS history

United Airlines · Revenue · Quarterly

$10.9B

Q4 2019+3.8%vs Q4 2018
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

United Airlines · $10.9B total across 3 segments · Q4 2019

  • Passenger
    $9.93B
  • Other Operating
    $639M
  • Cargo
    $316M

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

-0.5%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+3.4%

Avg return

30 days after

48%

33 / 69 earnings

Positive

+18.8%

Q1 2024

Best reaction

-15.4%

Q2 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.7%-5.4%+3.0%
Q4 2025-1.2%-0.7%+4.1%
Q3 2025-5.8%-3.8%-8.7%
Q2 2025+1.8%+0.7%+7.5%
Q1 2025-0.0%-2.5%+16.3%
Q4 2024+0.5%-2.2%-4.6%
Q3 2024+13.4%+16.7%+43.5%
Q2 2024-1.4%+2.4%-10.6%
Q1 2024+18.8%+25.2%+33.5%
Q4 2023+4.3%+9.6%+13.5%
Q3 2023-8.3%-11.2%-0.6%
Q2 2023+3.2%+2.3%-10.4%
Q1 2023+9.2%+4.9%+13.6%
Q4 2022-5.4%-4.2%-5.2%
Q3 2022+8.3%+12.0%+19.8%
Q2 2022-9.7%-12.4%-9.6%
Q1 2022+10.7%+11.6%-5.2%
Q4 2021-6.0%-9.3%+4.0%
Q3 2021-2.6%-0.9%+0.6%
Q2 2021+10.7%+9.4%+1.1%
Q1 2021-10.0%-4.9%-0.1%
Q4 2020-4.8%-9.8%+7.3%
Q3 2020-2.9%+0.7%+10.6%
Q2 2020-2.0%+1.7%+5.3%
Q1 2020-14.7%-22.7%-10.2%
Q4 2019-7.1%-8.7%-10.9%
Q3 2019+3.1%+3.6%+6.4%
Q2 2019+3.8%+2.7%-10.6%
Q1 2019+5.6%+4.4%-2.3%
Q4 2018+8.1%-3.2%+8.6%
Q3 2018+8.8%+7.5%+13.1%
Q2 2018+9.3%+12.0%+13.3%
Q1 2018+4.9%+6.6%+3.2%
Q4 2017-10.2%+14.4%-7.5%
Q3 2017-11.5%-12.5%-13.8%
Q2 2017-6.9%-10.3%-18.9%
Q1 2017-1.9%+0.7%+10.3%
Q4 2016-0.4%+4.3%+2.4%
Q3 2016+0.9%+4.5%+23.1%
Q2 2016+1.2%-0.3%-0.2%
Q1 2016-9.1%
Q4 2015+3.5%
Q3 2015+9.4%
Q2 2015-1.0%
Q1 2015-0.8%
Q4 2014+5.6%
Q3 2014+1.1%
Q2 2014+1.7%
Q1 2014-14.4%
Q4 2013-6.2%
Q3 2013+0.7%
Q2 2013+3.7%
Q1 2013-0.8%
Q4 2012+2.0%
Q3 2012-5.2%
Q2 2012-6.6%
Q1 2012-3.5%
Q4 2011-2.8%
Q4 2008-2.8%
Q3 2011-4.6%
Q4 2010-4.6%
Q2 2011-4.6%
Q1 2010+4.8%
Q1 2011-3.8%
Q2 2010-15.4%
Q3 2009+0.3%
Q3 2010+0.3%
Q2 2009+2.8%
Q4 2009+2.8%

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