United shares rise on better-than-expected fourth-quarter earnings
Shares of United Continental Holdings Inc. rose in Tuesday's extended session after the airline posted fourth-quarter earnings that exceeded expectations. United reported its fourth-quarter earnings fell to $462 million, or $1.70 a share, from $579 million, or $1.98 a share, a year earlier. On an adjusted basis, the company would have earned $2.41 a share. Operating revenue rose to $10.49 billion from $9.45 billion. Analysts surveyed by FactSet had forecast earnings of 95 cents a share on revenue of $9.62 billion. The company disclosed that it took delivery of 10 737 Max 9 aircraft which are currently grounded following a pair of fatal crashes within a span of few months. It also ordered 24 additional 737 Max aircraft in December. For 2019, United projected adjusted earnings per share of $10 to $12. United shares were up 2.5% after hours.
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