04:59 PM EDT, 10/15/2024 (MT Newswires) -- (Updates to include Q4 outlook and share repurchase program.)

United Airlines (UAL) reported Q3 adjusted earnings late Tuesday of $3.33 per diluted share, down from $3.65 a year earlier.

Analysts surveyed by Capital IQ expected $3.17.

Operating revenue in the quarter ended Sept. 30 rose to $14.84 billion from $14.48 billion a year earlier.

Analysts surveyed by Capital IQ expected $14.73 billion.

For Q4, the company expects adjusted EPS of $2.50 to $3. The consensus is for $2.81.

United Airlines said its board authorized a repurchase program for up to $1.5 billion of common shares and warrants originally issued to the US Treasury under the Coronavirus Aid, Relief, and Economic Security Act and the Payroll Support Program. The repurchase program will be subject to a limit of $500 million in 2024, the company said.

Price: 64.00, Change: -0.05, Percent Change: -0.08