Chicago – United Airlines parent UAL Corp. reported third-quarter earnings today of $190 million, marking the first time it has posted back-to-back profits in more than six years.
Net earnings amounted to $1.30 per share for the three months ended Sept. 30 compared with a loss a year ago of $1.77 billion, or $15.26 per share, when the company was nearing the end of its three-year bankruptcy restructuring.
The company had a $119 million profit in the second quarter, its first since 2000.
Revenue for the third quarter was $5.2 billion, up 11 percent from $4.7 billion a year ago.
Analysts surveyed by Thomson Financial had forecast quarterly earnings of $1.43 per share on revenue of $5.2 billion.
The Elk Grove Village, Ill.-based company said it had income tax expense in the quarter which reduced earnings by 43 cents a share.
Operating profit was $335 million, up from $170 million a year earlier.
Like other U.S. airlines, United’s bottom line benefited from increased fares despite the high cost of fuel. It said continuing revenue and productivity improvements more than offset a $293 million increase in fuel expenses during the quarter.
