LONDON, UK / ACCESSWIRE / October 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on United Continental Holdings, Inc. (NYSE: UAL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=UAL, following the Company's reporting of its third quarter fiscal 2017 operating results on October 18, 2017. The Chicago-based airline's cargo revenue grew 14.7% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the three months ended September 30, 2017, United Continental's revenue totaled $9.88 billion, marginally down compared to revenue of $9.91 billion, including an estimated $210 million loss of revenue from severe weather during the reported quarter. The Company's revenue numbers beat analysts' estimates of $9.86 billion.

During Q3 2017, United Continental's passenger revenue totaled $8.53 billion compared to $8.60 billion for Q3 2016. The Company's Cargo revenue for the reported quarter came in at $257 million, up 14.7% compared to revenue of $224 million for the prior year's same quarter, primarily due to higher international freight volume. United Continental's Other operating revenue was $1.09 billion, up 0.6% compared to revenue of $1.09 billion in Q3 2016

For Q3 2017, United Continental's consolidated passenger revenue per available seat mile (PRASM) declined 3.7% on a y-o-y basis compared to Q3 2016.

United Continental reported Q3 2017 net income of $637 million, or $2.12 a share, compared to net income of $965 million, or $3.01 per diluted share. Post adjustments for special charges and tax effects, the Company reported earnings of $2.22 per share, beating Wall Street's estimates of $2.16 per share.

Costs Details

During Q3 2017, United Continental's operating expense was $8.8 billion, up 6.0% on a y-o-y basis. The Company's consolidated unit cost per available seat mile (CASM) increased 3.0% on a y-o-y basis largely due to higher fuel and labor expense. United Continental's reported quarter consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, increased 2.6% on a y-o-y basis, driven mainly by higher labor expense.

Network and Fleet

During Q3 2017, United Continental announced several new routes. The Company announced an agreement with Airbus to modify its A350 order resulting in a conversion of the model type from the A350-1000 to the A350-900, an increase in the order size from 35 to 45 aircraft and a deferral of the first delivery to late 2022.

For Q3 2017, United Continental took delivery of one Boeing 787-9 aircraft, four Boeing 737-800 aircraft, and nine Embraer E175 aircraft. The Company also finalized agreements to take delivery of two additional used Airbus A320 aircraft by the end of 2017.

Liquidity and Capital Allocation

United Continental generated $577 million in operating cash flow and ended Q3 2017 with $6.3 billion in unrestricted liquidity, including $2.0 billion of undrawn commitments under its revolving credit facility. The Company's capital expenditures were $1.1 billion in the reported quarter.

In Q3 2017, United Continental raised $400 million of unsecured debt with an interest rate of 4.25%. The Company contributed $160 million to its pension plans and made debt and capital lease principal payments of $222 million. In the reported quarter, United Continental purchased $556 million of its common shares at an average price of $67.08 per share. As of September 30, 2017, the Company had approximately $553 million remaining under its existing share repurchase authority.

For the 12 months ended September 30, 2017, United Continental's pre-tax income was $3.3 billion and return on invested capital (ROIC) was 14.9%.

Stock Performance

On Friday, October 20, 2017, the stock closed the trading session at $59.90, slightly up 0.20% from its previous closing price of $59.78. A total volume of 10.39 million shares have exchanged hands, which was higher than the 3-month average volume of 5.12 million shares. United Continental's stock price advanced 2.34% in the last one month and 5.89% in the previous twelve months. The stock is trading at a PE ratio of 8.67 and currently has a market cap of $18.19 billion.

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SOURCE: Pro-Trader Daily