United Continental reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday.
Here’s how the company did compared to what Wall Street expected, according to Thomson Reuters:
- EPS: $2.75 vs. $2.67
- Revenue: $10 billion vs. $9.97 billion
Second-quarter traffic, or revenue passenger miles, rose 5.7 percent, while capacity, or available seat miles, swelled 5.3 percent.
Shares of United dipped about 2 percent on relatively light volume in after-hours trade.
The airline operator is recovering from a viral public relations nightmare, after a passenger was forcibly removed from an overbooked United Express flight operated by Republic Airways.
United has since settled with Dr. David Dao for an undisclosed amount. The company has also made a number of policy changes it hopes will prevent a repeat incident. Dao and his fellow passengers had been offered $800 to give up their seats for crew members. Under the new policy, United said it will offer up to $10,000 to customers who volunteer.
The debacle led to CEO Oscar Munoz testifying before the House Transportation Committee in May, where he pledged, “This is a turning point for United.” Munoz has repeatedly apologized for the fiasco, calling it a “system failure” during an earnings conference call in April.
So far this year, United shares have gained nearly 8 percent.
This is breaking news. Please check back for updates.