Airline stocks hit a 52-week high after solid results from United Airlines

seekingalpha10-16

The Dow Jones U.S. Airlines Index (DJUSAR) and the U.S. Global Jets ETF (NYSEARCA:JETS) both hit new highs in early trading on Wednesday after United Airlines (NASDAQ:UAL) topped expectations with its...

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The positive read from United (UAL) took some of the sting off Delta Air Lines (DAL) earnings miss last week. With its Q3 report, United Airlines (UAL) reported total revenue increased by 2.5% to $14.84B, above the consensus estimate of $14.78B. Domestic revenue was down 0.3% while international revenue fell 2.0%. Corporate revenues were up 13% year over year, and in the quarter premium revenues remained resilient and were up 5% year over year. Revenue from Basic Economy was up 20% year over year. For the current quarter, United (UAL) expects an adjusted profit of $2.50 to $3.00 per share, versus the consensus estimate of $2.68 per share. On Wall Street, Morgan Stanley said the commencement of the UAL buyback marks another milestone in the airline industry as it puts the pandemic in the rearview mirror. Notably, the UAL Q4 guidance was largely in-line with Wall Street expectations, despite drags from the Florida hurricanes and U.S. election drama. United Airlines (UAL) jumped 9.6% in early trading on Wednesday. Other gainers included Spirit Airlines (SAVE) +4.3%, American Airlines Group (AAL) +3.9%, Delta Air Lines (DAL) +3.6%, JetBlue Airways (JBLU) +2.2%, and Southwest Airlines (LUV) +2.1%.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2475913700"}