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United Continental beats by $0.10, reports revs in-line; guides Q4 PRASM down 1-3% from -3.7% in Q3
- Reports Q3 (Sep) earnings of $2.22 per share, $0.10 better than the Capital IQ Consensus of $2.12; revenues fell 0.4% year/year to $9.88 bln vs the $9.87 bln Capital IQ Consensus including an estimated $210 million loss of revenue from severe weather during the quarter. Third-quarter 2017 consolidated passenger revenue per available seat mile (PRASM) was down 3.7% (last week co raised prasm to down 3.5-4.0% from down 3-5% and raised pre tax margin to 10-10.5% from 8-10%.
- Sees Q4 PRASM down 1-3%; capacity +3.5%; adj. costs up 2.5-3.5%. The Company expects October and November unit passenger revenue to be ~flat on a year-over-year basis. December unit passenger revenue is expected to be down compared to the prior year due to holiday calendar shifts.
- UAL repurchased $556 million of its common shares in Q3.
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