United and Continental Q3 Profits.

[Flopgut]

United Continental Holdings, Inc. Announces Third Quarter Results

UNITED REPORTS THIRD QUARTER $473 MILLION PROFIT EXCLUDING SPECIAL ITEMS, $387 MILLION ON GAAP BASIS
CONTINENTAL REPORTS THIRD QUARTER $367 MILLION PROFIT EXCLUDING SPECIAL ITEMS, $354 MILLION ON GAAP BASIS

 

[mamba20]

so for those of us who aren't financial people what does that mean? excluding special items and GAAP is greek to me.

 

[dalad]

so for those of us who aren't financial people what does that mean? excluding special items and GAAP is greek to me.

GAAP=Generally Accepted Accounting Principles

 

[Ex737Driver]

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

 

[ATA For Now!]

so for those of us who aren't financial people what does that mean? excluding special items and GAAP is greek to me.

It means they made almost a BILLON dollar profit and have 9.1 BILLION in CASH. They better start sharing it soon!

 

[Ex737Driver]

United Side

United

Operating Revenue


Revenue is money earned by the company from the sale of products and services. The primary contributors to revenue are our mainline and United Express® passenger services, followed by Travel Options by United,SM such as Economy Plus® upsell, bag fees and other offerings, cargo and other revenue.

All figures are

reported in millions​

Year-over-Year

% change Increase/(Decrease)​

1
Passenger revenue from United mainline flights, operating worldwide

$3,913​

19.8​

2
Passenger revenue from United Express regional flights

1,076​

27.5​

3
Cargo revenue represents money received from transporting freight and mail

175​

40.0​

4
In addition, the company generates revenue from other sources such as maintenance service and ground handling contracts with other carriers, interline handling fees and liquor sales

230​

16.8​

Total Operating Revenue for the Third Quarter is:

$5,394​

21.7​

Operating Expenses



Expenses are money the company spends in the ordinary course of business for costs it incurs, such as fuel, salaries, aircraft leases, and supplies, among other things. These must be subtracted from revenue.

All figures are

reported in millions​

Year-over-Year

% change Increase/(Decrease)​

1
Our largest single expense is fuel and related taxes*

$1,230​

12.9​

2
Salaries and related costs include compensation for all employees*

1,083​

16.2​

3
United pays its United Express partners to operate as an extension of the United brand to serve smaller markets and provide connections; this expense includes fuel

914​

17.9​

4
United purchased services, aircraft maintenance materials and repairs

540​

1.5​

5
Landing fees and rent paid to operate at various airports

240​

6.2​

6
We pay sales commissions, such as those to travel agents, and other sources, like global distribution systems that support reservations and ticketing

161​

11.0​

7
Depreciation and amortization is the allowance for the use of owned aircraft, aircraft parts, office equipment, ground equipment and any other assets that the company owns, which we expense over the life of the asset*

220​

2.8​

8
Aircraft rent is the cost of planes we do not own and lease from others

82​

(6.8)​

9
Finally, other expenses and items include things like hotels, per diem, telephone and utility costs, etc.

303​

(1.9)​

Total Operating Expenses* for the Third Quarter are:

$4,773​

10.7​

Total Operating Revenue

$5,394​

Less Total Operating Expenses

4,773​

Equals our Total Operating Profit

$621​

All figures are

reported in millions​

Year-over-Year

% change Increase/(Decrease)​

1
We deduct interest that we owe from our debt to finance our operations, net of interest capitalized

$(169)​

18.2​

2
We add the interest income from our company’s cash, investments, and other miscellaneous non-operating items
The sum of these two items is our non-operating expense.

20​

Then we deduct non-operating expenses from operating profit to generate a pre-tax profit of*:

$472​

3
We add income from affiliated companies. Income taxes were zero.

1​

Our Net Profit is pre-tax profit less taxes; for the third quarter, Net Profit is*:

$473​

Finally, in order to determine the portion of our net profit that is allocated to each share of common stock we divide net profit by the total number of shares to get our profit per share.

 

[mamba20]

GAAP=Generally Accepted Accounting Principles

So I guess this is good new for us at CAL as far as profit sharing this year?

 

[GuppyWN]

Holy Crap that's a lot of money.

Gup

 

[COpilot]

So I guess this is good new for us at CAL as far as profit sharing this year?

What profit sharing? That's no longer in place

 

[Twotter Driver]

What profit sharing? That's no longer in place

We DO have profit sharing as agreed to in the transition agreement! It's not the same program as we previously had, but we do have profit sharing!