In the second quarter of 2023, United Airlines experienced a notable increase in its operating revenue, which rose by 17.1 percent to reach $14.2 billion. This growth can be compared to the corresponding period in 2022.
The company’s financial results were disclosed in a statement, which revealed quarterly earnings per share of $3.24 and a pre-tax margin of 9.8 percent. The net income experienced an increase and reached a value of $1.1 billion.
It was anticipated that the positive momentum observed in the second quarter would propel the company towards achieving adjusted earnings per share of $11 to $12 for the entirety of the year 2023. This forecast represents an increase compared to the previously provided guidance range of $10 to $12.
It said, “The all-time quarterly highs in the second quarter and the bright outlook for the future are evidence that the United Next strategy to upgrade the airline, increase connectivity at its mid-continent hubs, and expand its industry leading global network is working.
“The company’s second quarter performance also benefited from the strength in its network. In the second quarter, United’s domestic margins returned to 2019 levels while international margins were well above 2019. United continues to establish its position as the United States flag carrier, with a 27 per cent increase in capacity internationally versus the same quarter last year.”
While reacting to the financial report, the United Airlines Chief Executive Officer, Scott Kirby, said, “The United team persevered through an unprecedented series of events at the end of last month. They are the best in the business and we’re focused on the important changes we can make, especially in Newark, to serve our customers even better.
“United’s financial performance in the second quarter and our outlook for the remainder of the year and beyond make it clear that United Next is working and is the right strategy at the right time. Our focus now is on executing that strategy well – because we know it will deliver huge benefits for our customers, our employees and our owners.”
