Airline Pilot Central Forums - View Single Post - 3Q Profit numbers released for both companies

10-21-2010, 03:36 AM

#2

SoCalGuy

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Joined APC: Feb 2008

Position: Boeing's Plastic Jet Button Pusher - 787

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Cliff Notes....

United Continental Holdings, Inc. (NYSE: UAL) today announced individual third quarter 2010 financial results for United Airlines and Continental Airlines. On Oct. 1, a wholly owned subsidiary of United Continental Holdings, Inc., formerly UAL Corporation, merged with Continental Airlines, Inc. Financial results for United and Continental will be combined when the company reports fourth quarter 2010 results.
Highlights of this quarter include:
· United reported third quarter 2010 net income of $473 million or $2.12 diluted earnings per share excluding certain special items, an improvement of $533 million year-over-year. On a GAAP basis, United reported third quarter net income of $387 million.
· Continental reported third quarter 2010 net income of $367 million or $2.24 diluted earnings per share excluding certain special items, an improvement of $365 million year-over-year. On a GAAP basis, Continental reported third quarter net income of $354 million.
· United consolidated passenger revenue increased 21.4 percent in the third quarter 2010 compared to the same period in 2009.
· Continental consolidated passenger revenue increased 20.6 percent in the third quarter 2010 compared to the same period in 2009.
· The companies ended the third quarter with a combined $9.1 billion of unrestricted cash, cash equivalents and short-term investments.

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