Quiver Quantitative – United Airlines (NASDAQ:) (UAL) has reported its first-quarter financial results for 2024, surpassing revenue and earnings per share expectations despite enduring a pre-tax loss of $164 million. The stock is up 4% after hours. This loss marks a significant improvement over the previous year, buoyed by an operational cash flow of $2.8 billion and free cash flow of $1.5 billion. These figures include the financial impact of approximately $200 million due to the Boeing (NYSE:) 737 MAX 9 grounding. Without this setback, United would have noted a profit for the quarter. The airline has reaffirmed its full-year earnings forecast, projecting an adjusted diluted EPS of between $9 and $11.
During the quarter, United Airlines experienced robust growth in business demand and took strategic actions to adjust domestic capacity, which significantly enhanced its profitability, particularly in the Atlantic and Domestic markets. These markets witnessed impressive…