United Airlines Q4 Loss Wider Than Wall Street View

(RTTNews) - United Airlines (UAL) Wednesday reported a fourth-quarter loss that was wider than Wall Street analysts' estimates, as the airline industry continues to bear the brunt of Covid-19 pandemic.

Fourth-quarter net loss was $1.90 billion or $6.39 per share, compared to net income of $641 million or $2.53 per share last year.

Adjusted net income for the fourth quarter was $2.08 billion or $7.00 per share, compared to net income of $676 million or $2.67 per share last year.

Total operating revenues plunged 68.7% to $3.41 billion from $10.89 billion last year.

Analysts polled by Thomson Reuters estimated a loss of $6.60 per share on revenues of $3.44 billion.

Looking forward, the company said it expects first quarter operating revenues to be down 65 percent to 70 percent versus the first quarter 2019. Analysts currently expects revenues to drop 49.10%.