United Airlines Holdings (NASDAQ:UAL) shares rose more than 2.7% postmarket after beating Q2 analyst estimates and increasing its outlook.
The airline upped its yearly adjusted EPS estimate to between $11 and $12 from $10 to $12, and third-quarter adjusted EPS of $3.85 to $4.35 versus an estimated $3.68.
Q2 revenue of $14.18B compared to the $13.93B estimate while a record Non-GAAP EPS of $5.03 beat by $0.98. Capacity rose more than 17%.
In the second quarter, United's (UAL) domestic margins returned to 2019 levels while international margins were well above those levels. The airline said it boosted international capacity by 27% in the quarter versus a year earlier. Flights to foreign destinations have been in high demand post-pandemic.
"United's (UAL) financial performance in the second quarter and our outlook for the remainder of the year and beyond make it clear that United Next is working and is the right strategy at the right time,” said airline CEO Scott Kirby. “Our focus now is on executing that strategy well — because we know it will deliver huge benefits for our customers, our employees and our owners."
The carrier pre-paid $1 billion of high-coupon debt as it carried the highest volume of revenue passengers since pre-pandemic.
United’s (UAL) strong report follows an equally well-received Q2 print from Delta Air Lines (DAL) last week.