United Airlines Holdings, Inc. (UAL) reported fourth-quarter 2023 earnings per share (excluding 19 cents from non-recurring items) of $2.00, which outpaced the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.
Operating revenues of $13,626 million beat the Zacks Consensus Estimate of $13,546.8 million. The top line increased 9.9% year over year due to upbeat air-travel demand. This was driven by a 10.9% rise in passenger revenues (which accounted for 91.1% of the top line) to $12,421 million. Almost 41,779 passengers traveled on UAL flights in the fourth quarter.
Cargo revenues fell 14.8% year over year to $402 million. Revenues from other sources jumped 10.6% from the fourth quarter of 2022 to $803 million.
Other Details of Q4
Below, we present all comparisons (in % terms) with the fourth quarter of 2022 figures unless otherwise stated.
Consolidated passenger revenue per available seat mile (a key measure of unit revenues) decreased 1%. Total revenue per available…
