Not here to sell you anything. A trade with strong economic experience and passionate soft developer. My tweets only represent my opinion, not a recommendation.
$UAL | United Airlines Q1 Earnings Highlights:
🔹 Adj. EPS: -$0.15 (Est. -$0.57) 🟢
🔹 Operating Revenue: $12.54B (Est. $12.44B) 🟢
🔹Demand Environment: Remained strong
Outlook:
🔸 Sees FY'24 Adj. EPS: $9.00-$11.00 (Est. $9.67) 🟢
🔸 FY 2025-2027 Adjusted Total Capital Expenditures: $7B-$9B per year
🔸 Aircraft Commitments: Increased to 183 narrowbody aircraft for 2024 due to prior year delays
Financial Metrics:
🔸 Pre-tax Loss: $164 million; Pre-tax margin: (-1.3)%
🔸 Adjusted Pre-tax Loss: $79 million; Adjusted Pre-tax margin: (-0.6)%
🔸 Net Loss: $124 million; Adjusted Net Loss: $50 million
🔸 Diluted Loss per Share: $0.38
🔸 TRASM (Total Revenue per Available Seat Mile): Up 0.6% YoY
🔸 CASM (Cost per Available Seat Mile): Down 0.6% YoY
🔸 CASM-ex: Up 4.7% YoY
🔸 Average Fuel Price per Gallon: $2.88
🔸 Ending Available Liquidity: $16.9 billion
🔸 Total Debt and Finance Lease Obligations: $27.2 billion
🔸 Adjusted Net Debt to Adjusted EBITDAR: 2.7x (trailing twelve months)
Fleet and Capacity Updates:
🔸 Capacity Growth: Up 9.1% YoY
🔸 Fleet Adjustments: Conversion of Boeing MAX 10 orders to MAX 9 from 2025 through 2027; retains flexibility to convert more MAX 10 into MAX 8 or MAX 9 as needed.
🔸 New Aircraft Leases: Letters of intent to lease 35 new Airbus A321neos with deliveries expected in 2026 and 2027.
🔸 2024 Aircraft Deliveries: Anticipates 61 narrowbody and 5 widebody aircraft.
🔸 Manufacturing and Certification Delays: Previous years' delays increased 2024 commitments to 183 narrowbody aircraft. Delays expected to continue with minimal impact on short-term capacity plans.
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