United Airlines (UAL) Tops Q1 EPS by 5c

April 20, 2016 4:24 PM EDT

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United Airlines (NYSE: UAL) reported Q1 EPS of $1.23, $0.05 better than the analyst estimate of $1.18. Revenue for the quarter came in at $8.2 billion versus the consensus estimate of $8.21 billion.

First-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 7.4 percent and consolidated yield decreased 6.1 percent compared to the first quarter of 2015. The decline in PRASM continues to be driven by economic factors including a strong U.S. dollar and lower oil prices. In addition, the company experienced a larger-than-anticipated decrease in close-in business travel during the weeks surrounding the Easter holiday and spring break.

The company continues to focus on providing customers options to personalize their travel experience and, this quarter, launched its new bundled products offering, which is exceeding expectations.

For earnings history and earnings-related data on United Airlines (UAL) click here.

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