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United reports fifth consecutive quarterly loss

A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport on March 13, 2019 in Burlingame, California.

Justin Sullivan | Getty Images

United Airlines on Monday reported its fifth consecutive quarterly loss, though travel demand has recently improved as vaccinations ramp up and governments loosen travel restrictions.

The company posted a $1.36 billion net loss for the first quarter on $3.22 billion in revenue, which fell nearly 60% from the close to $8 billion in sales it generated in the first quarter of 2019. United’s per-share loss on an adjusted basis came in at $7.50, above the $7.08 per share loss analysts expected.

United shares were off 1.6% in after-hours trading.

Here’s how United performed in the first quarter compared with what Wall Street expected, based on average estimates compiled by Refinitiv:

  • Adjusted EPS:  a loss of $7.50 versus an expected loss of $7.08 a share
  • Total revenue:  $3.22 billion versus expected $3.26 billion in revenue

The company’s executives will discuss results in a 10: 30 a.m. ET call on Tuesday.

This is breaking news. Check back for updates.

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