flyguppy
Well-known member
- Joined
- Sep 25, 2003
- Posts
- 130
Still a net loss, but came it around $.50/share vs. estimates of a $.90/share loss. Will make CAL 'negotiations' interesting.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
UAL Corporation Reports First Quarter 2010 Results
First 1Q Operating Profit Since 2000
$58 Million 1Q10 Operating Profit Excluding Charges; $69 Million 1Q10 GAAP Operating Profit
Generated $482 Million in Operating Cash Flow
$92 Million 1Q10 Net Loss Excluding Charges; $479 Million Improvement From Prior Year
$82 Million 1Q10 GAAP Net Loss; $300 Million Improvement From Prior Year
No. 1 On-Time Carrier Among 5 Largest U.S. Global Carriers for 1Q10 Based on Preliminary Industry Results †
CHICAGO, April 27, 2010 – UAL Corporation (Nasdaq: UAUA), the holding company whose primary subsidiary is United Airlines, reported results for the first quarter ended March 31, 2010. The company:
•
Reported a first quarter operating profit of $58 million, excluding non-cash, net mark-to-market hedge gains and certain accounting charges as outlined in note 4 of the attached statement of consolidated operations, the company’s first operating profit in the first quarter since 2000. The company reported a GAAP operating profit of $69 million.
•
Reported a first quarter net loss of $92 million, or $0.55 per basic share, excluding non-cash, net mark-to-market hedge gains and certain accounting charges as outlined in note 4 of the attached statement of consolidated operations, narrowing its net loss by $479 million compared to the first quarter of 2009. The company reported a GAAP net loss of $82 million, or $0.49 per basic share.
•
Reported a 19.0% year-over-year increase in consolidated passenger revenue per available seat mile (PRASM) for the first quarter.
•
Reported a 4.8% year-over-year increase in consolidated unit cost per available seat mile (CASM) for the quarter, excluding fuel and certain accounting charges, against a reduction in consolidated capacity of 3.3% year-over-year. Consolidated CASM, including fuel and excluding non-cash, net mark-to-market fuel hedge gains and certain accounting charges, was up 6.5% year-over-year. GAAP consolidated unit cost, including these items, was up 8.6%.
•
Closed the quarter with total cash of $3.8 billion, unrestricted cash of more than $3.5 billion, and restricted cash of nearly $300 million. As of April 26, unrestricted cash increased to $4.5 billion, including $700 million in secured debt offering proceeds received in April.
•
Ranked No. 1 in on-time arrivals among the five largest U.S. global carriers for the first quarter based on preliminary industry results † .
•
Finalized agreements for 25 Boeing 787 Dreamliner and 25 Airbus A350 XWB widebody aircraft orders.
•
Filed an application for a daily non-stop slot from San Francisco to Tokyo’s downtown Haneda airport with the U.S. Department of Transportation, an opportunity enabled by the pending U.S.-Japan Open Skies agreement.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
UAL Corporation Reports First Quarter 2010 Results
First 1Q Operating Profit Since 2000
$58 Million 1Q10 Operating Profit Excluding Charges; $69 Million 1Q10 GAAP Operating Profit
Generated $482 Million in Operating Cash Flow
$92 Million 1Q10 Net Loss Excluding Charges; $479 Million Improvement From Prior Year
$82 Million 1Q10 GAAP Net Loss; $300 Million Improvement From Prior Year
No. 1 On-Time Carrier Among 5 Largest U.S. Global Carriers for 1Q10 Based on Preliminary Industry Results †
CHICAGO, April 27, 2010 – UAL Corporation (Nasdaq: UAUA), the holding company whose primary subsidiary is United Airlines, reported results for the first quarter ended March 31, 2010. The company:
•
Reported a first quarter operating profit of $58 million, excluding non-cash, net mark-to-market hedge gains and certain accounting charges as outlined in note 4 of the attached statement of consolidated operations, the company’s first operating profit in the first quarter since 2000. The company reported a GAAP operating profit of $69 million.
•
Reported a first quarter net loss of $92 million, or $0.55 per basic share, excluding non-cash, net mark-to-market hedge gains and certain accounting charges as outlined in note 4 of the attached statement of consolidated operations, narrowing its net loss by $479 million compared to the first quarter of 2009. The company reported a GAAP net loss of $82 million, or $0.49 per basic share.
•
Reported a 19.0% year-over-year increase in consolidated passenger revenue per available seat mile (PRASM) for the first quarter.
•
Reported a 4.8% year-over-year increase in consolidated unit cost per available seat mile (CASM) for the quarter, excluding fuel and certain accounting charges, against a reduction in consolidated capacity of 3.3% year-over-year. Consolidated CASM, including fuel and excluding non-cash, net mark-to-market fuel hedge gains and certain accounting charges, was up 6.5% year-over-year. GAAP consolidated unit cost, including these items, was up 8.6%.
•
Closed the quarter with total cash of $3.8 billion, unrestricted cash of more than $3.5 billion, and restricted cash of nearly $300 million. As of April 26, unrestricted cash increased to $4.5 billion, including $700 million in secured debt offering proceeds received in April.
•
Ranked No. 1 in on-time arrivals among the five largest U.S. global carriers for the first quarter based on preliminary industry results † .
•
Finalized agreements for 25 Boeing 787 Dreamliner and 25 Airbus A350 XWB widebody aircraft orders.
•
Filed an application for a daily non-stop slot from San Francisco to Tokyo’s downtown Haneda airport with the U.S. Department of Transportation, an opportunity enabled by the pending U.S.-Japan Open Skies agreement.