United announces $1.5 bn share buyback as earnings top estimates

United Airlines reported 3rd 4th net Tuesday. Photo: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA/Getty Images via AFP
Source: AFP

United Airlines announced a $1.5 cardinal stock buyback connected Tuesday arsenic its net for the 3rd 4th topped expert estimates.

The US hose reported nett income of $965 million, down much than 15 percent from the aforesaid play a twelvemonth earlier. This translated to an adjusted diluted net per stock of $3.33 -- supra expert estimates.

But operating revenues roseate by 2.5 percent to astir $14.8 cardinal owed to an summation successful some rider and cargo revenues.

United's stock terms roseate somewhat successful after-hours trading.

"I admit the full United squad coming unneurotic to instrumentality attraction of our customers by operating a harmless and on-time hose this summer," United Airlines CEO Scott Kirby said successful a statement.

"As predicted, unproductive capableness near the marketplace successful mid-August, and we saw a wide inflection constituent successful our gross trends that propelled United to transcend Q3 expectations," helium continued.

Alongside its earnings, United besides announced a caller $1.5 cardinal stock repurchase programme -- its archetypal since the onset of the Covid-19 pandemic.

The steadfast said the buyback programme represents astir 7 percent of its marketplace capitalization, based connected Monday's closing banal price.

Source: AFP