United Airlines forecasts fourth-quarter profit below estimates as fuel costs bite
United Airlines forecasts fourth-quarter profit below estimates as fuel costs bite CHICAGO, Oct 20 (Reuters) - United Airlines UAL.O on Tuesday forecast fourth-quarter profit well below Wall Street estimates despite expectations for record revenue, as soaring fuel costs threaten to offset gains from strong travel demand and higher ticket prices.
The Chicago-based carrier expects adjusted earnings of 50 cents to $1.50 per share for the December quarter, compared with analysts' average estimate of $1.76, according to data compiled by LSEG. Its third-quarter adjusted profit of $2.54 per share narrowly missed estimates of $2.57, even as revenue rose 17.4% to about $17.9 billion.
(Reporting by Rajesh Kumar Singh; Editing by Chris Reese)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net))
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