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United Airlines Holdings Inc. late Tuesday reported a wider-than-expected second-quarter loss, giving investors a look into quarterly financials thoroughly wrecked by the pandemic and the near standstill on air travel.
United UAL, +2.28% said it lost $1.6 billion, or $5.79 a share, in the quarter, contrasting with a profit of $1.05 billion, or $4.02 a share, in the year-ago quarter.
Adjusted for one-time items, United lost $2.6 billion, or $9.31 a share, versus an adjusted profit of $4.21 a share a year ago.
Revenue fell to $1.5 billion from $11.4 billion a year ago.
Analysts polled by FactSet had expected the company to report an adjusted loss of $8.96 a share on sales of $1.3 billion.
The company called the quarter “the most difficult” financial period in its 94-year history.
United’s stock rose 1.3% in the extended session after ending the regular trading day up 2.3%.
United shares have lost 63% this year, compared with losses of 6% for the Dow Jones Industrial Average DJIA, +0.59% and contrasting with gains of 0.7% for the S&P 500 index SPX, +0.16% in the same period.
