United Continental Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Capital Expenditures Guidance for the Full Year of 2012
January 26, 2012 at 06:01 pm IST
United Continental Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported total operating revenues of $8,928 million, operating income of $45 million, loss before income taxes of $146 million, net loss of $138 million or $0.42 per diluted share compared to the total operating revenues of $8,464 million, operating loss of $82 million, loss before income taxes of $324 million, net loss of $325 million or $1.01 per diluted share for the same quarter year ago. Net income excluding special items was $109 million or $0.30 per diluted share compared to the $160 million for the same quarter year ago. During the quarter, the company generated $265 million of operating cash flow, and gross capital expenditures were $204 million.
For the year, the company reported total operating revenues of $37,110 million, operating income of $1,822 million, income before income taxes of $845 million, net income of $840 million or $2.26 per diluted share compared to the total operating revenues of $34,109 million, operating income of $1,919 million, income before income taxes of $955 million, net income of $955 million or $2.61 per diluted share for the previous year. Net income excluding special items was $1,323 million or $3.49 per diluted share compared to the $1,619 million for the previous year.
The company provided capital expenditures guidance for the full year of 2012. As a result, the company expects gross capital expenditures to be $2.3 billion in 2012 or $1.3 billion net of expected financing.