Continental Airlines (CAL) is expected to report Q3 earnings before market open Thursday Oct 16 with a conference call scheduled for 9:30 am ET.
Analysts are looking for EPS of ($1.50) on revenue of $4.14B. The consensus range is ($2.00) to (83c) for EPS, and $4.11B to $4.24B for revenue, according to First Call. The company stated on September 25, it estimates that the total net adverse impact from Hurricane Ike on operating results in Q308 will be approximately $50M. This is a preliminary estimate and the actual adverse impact of the hurricane may differ from this estimate based on a number of factors, including insurance recoveries and how quickly traffic returns at the carrier's Houston hub.
UBS upgraded Continental, along with most of the airline sector, on September 15, on the belief airline estimates are too low and will move higher. The firm upgraded Continental, AirTran Holdings (AAI), Allegiant Travel Company (NASDAQ:ALGT), AMR Corporation (AMR), Delta Air Lines (NYSE:DAL), US Airways Group (LCC), Northwest Airlines (NWA) and UAL Corporation (UAUA) to Buy from Neutral and JetBlue Airways (NASDAQ:JBLU) to Neutral from Sell. Argus upgraded Continental shares to Buy from Hold on September 24, to reflect lower fuel costs.