Stocks of United Airlines Holdings Inc. escalated on the after-hours trading after it reported a better than expected third-quarter fiscal 2021 report.
Accordingly, it edged up 2.27% or 1.05 points to $47.27 per share. Consequently, it reversed its loss of 2.01% or 0.95 points to $46.22 per share on Tuesday.
The Chicago-based airline currently stands with a market capitalization of $14.96 billion and $323.61 million.
Meanwhile, United Airlines remained on track to meet its 2022 target despite the impact of the COVID-19 Delta variant.
In the latest report, it provided data comparisons to the fiscal year 2019. This is to emphasize the difference of its stand before the onset of the pandemic.
Correspondingly, its sales hiked to $7.75 billion from the analysts’ forecast of $7.64 billion. However, it is still 32.00% lower than the same quarter two years earlier.
Additionally, its per-share adjusted loss was at $1.02, better than the projected $1.67.
Consequently, its net income climbed to $473.00 million, mainly contributed by the $1.13 billion federal payroll aid.
However, United Airlines projected its fourth-quarter capacity to decline to 23.00% in comparison to 2019.
At the same time, its estimated sales could drop between 25.00% to 30.00% from $11.38 billion.
Meanwhile, the carrier also expected a hike of $2.39 per gallon for fuel from the previous quarter price of $2.14.
Last week, Delta Air Lines also published a profit but notified the market that soaring fuel prices could weigh its fourth-quarter bottom line.
Similarly, its share price improved 0.69% or 0.28 points to $40.73 per share.
US Stocks Closed Higher as United Airlines Hiked
Furthermore, the Dow Jones Industrial Average index climbed 0.56% or 198.70 points to $35,457.31 per share.
It is the same with the benchmark S&P 500 strengthened 0.74% or 33.17 points to $4,519.63 per share.
Then, the Nasdaq Composite index amplified 0.71% or 107.28 points to $15,129.09 per share.
Meanwhile, other rivals of United Airlines soared on the after-hours trading as they would release their 3Q results on Thursday.
For instance, Southwest Airlines elevated 0.71% or 0.35 points to $49.73 per share.
Likewise, American Airlines Group boosted 0.77% or 0.15 points to $19.68 per share.
Also, Alaska Air Group jumped 0.54% or 0.31 points to $57.25 per share.