The possibility of a recession forced United to give two projections for the year.
Transcript:
United Airlines turned in a promising first quarter earnings report, but when it comes to the rest of the year, the company says it’s “impossible to predict” how it will play out. The airline saw revenue increase by 5% from a year ago, and revealed a $387 million profit in Q1.
But when discussing its guidance for the rest of the year – United couldn’t offer just one projection. In its filing it said, “The Company’s outlook is dependent on the macro environment which the Company believes is impossible to predict this year with any degree of confidence.”
United’s current projection would see earnings per share between $11.50 and $13.50. However, if the U.S. should fall into a recession, the company expects those numbers to fall between $7 and $9 per share.
Either way, United said it expects to turn a profit.
That’ll do it for your daily briefing. From New York City, I’m Loren Torres with TheStreet.
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