United Airlines Holdings Inc (NASDAQ:UAL) shares are trading higher Thursday after the company reported financial results and announced it expects to return to profitability in the second quarter.
United reported first-quarter revenue of $7.57 billion, which came in below the $7.68 billion estimate, according to data from Benzinga Pro. The airline reported a quarterly earnings loss of $4.24 per share, which missed the estimate for a loss of $4.21 per share.
However, United said it expects to return to profitability in the second quarter on a strong operating revenue outlook, including total revenue per available seat mile of approximately 17% over 2019, representing the strongest second-quarter revenue guidance in the company's history.
Operating margin is expected to be about 10% in the second quarter.
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UAL 52-Week Range: $30.54 - $60.58
The stock was up 8.66% at $50.55 at time of publication.
Photo: courtesy of United Airlines.
