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United Airlines Holdings shares were down about 5% in pre-market Wednesday trading.
United Airlines Holdings reported adjusted EPS of $3.65 on revenue of $14.48 billion. Analysts polled by Investing.com anticipated earnings of $3.41 a share on revenue of $14.43 billion.
Third quarter cost per available seat mile, or CASM was down 3.6% compared with the third quarter 2019.
The company said it saw “strength in close-in bookings in August and September with both months well ahead of year-over-year demand.”
Looking ahead, the company forecast Q4 EPS of $1.80 or $1.50, assuming suspension of Tel Aviv flights through year-end. That was below estimates of $2.13.
Bernstein analysts said the move lower is a result of a worse-than-expected cost guide.
“The magnitude of the 4Q guide down — which is largely driven by higher fuel costs — is much more significant than expected, and overshadows what was a great summer for United,” they wrote in a note.
Additional reporting by Senad Karaahmetovic
