United Continental Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total operating revenue of $9,438 million against $9,052 million a year ago. Operating income was $729 million against $1,005 million a year ago. Income before income taxes was $600 million against $884 million a year ago. Net income was $580 million against $397 million a year ago. Diluted earnings per share were $1.99 against $1.26 a year ago. Operating income, excluding special charges (Non-GAAP) was $760 million against $974 million a year ago. Adjusted EBITDA, excluding special charges and reflecting hedge adjustments (Non-GAAP) was $1,305 million against $1,474 million a year ago. Pre-tax income, excluding special charges and reflecting hedge adjustments (Non-GAAP) was $631 million against $857 million a year ago. Net income, excluding special charges and income tax adjustments and reflecting hedge adjustments (Non-GAAP) was $408 million against $562 million a year ago. Diluted earnings per share, excluding special charges and income tax adjustments and reflecting hedge adjustments (Non-GAAP) was $1.40 against $1.78 a year ago. Capital expenditures were $1,098 million against $880 million a year ago. Adjusted capital expenditures (Non-GAAP) were $1,046 million against $1,078 million a year ago. Net cash provided by operating activities was $728 million against $658 million a year ago. For the quarter revenue an increase of 4.3% year-over-year, consolidated passenger revenue per available seat mile (PRASM) was up 0.2% compared to the fourth quarter of 2016. Cargo revenue was $304 million, an increase of 21.6% year-over-year primarily due to higher international freight volume and yields.

For the full year, the company reported total operating revenue of $37,736 million against $36,556 million a year ago. Operating income was $3,498 million against $4,338 million a year ago. Income before income taxes was $2,999 million against $3,819 million a year ago. Net income was $2,131 million against $2,263 million a year ago. Diluted earnings per share were $7.02 against $6.85 a year ago. Operating income, excluding special charges (Non-GAAP) was $3,674 million against $4,976 million a year ago. Adjusted EBITDA, excluding special charges and reflecting hedge adjustments (Non-GAAP) was $5,826 million against $6,939 million a year ago. Pre-tax income, excluding special charges and reflecting hedge adjustments (Non-GAAP) was $3,175 million against $4,462 million a year ago. Net income, excluding special charges and income tax adjustments and reflecting hedge adjustments (Non-GAAP) was $2,052 million against $2,857 million a year ago. Diluted earnings per share, excluding special charges and income tax adjustments and reflecting hedge adjustments (Non-GAAP) was $6.76 million against $8.65 a year ago. Capital expenditures were $3,998 million against $3,223 million a year ago. Adjusted capital expenditures (Non-GAAP) were $4,729 million against $3,347 million a year ago. NOPAT - Non-GAAP was $4,137 million. Net cash provided by operating activities was $3,413 million against $5,542 million a year ago. For the full year total revenue was $37.7 billion, an increase of 3.2% year-over-year. Return on invested capital - Non-GAAP was 13.8%.

The company reported operating results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue passenger miles were 53,149 million against 51,538 million a year ago. Available seat miles were 65,028 million against 62,518 million a year ago. Consolidated passenger load factor was 81.7% against 82.4% a year ago.

For the full year, the company reported, revenue passenger miles were 216,261 million against 210,309 million a year ago. Available seat miles were 262,386 million against 253,590 million a year ago. Consolidated passenger load factor was 82.4% against 82.9% a year ago.

The company expects a tax rate of approximately 22% to 24% for the full year of 2018. Consolidated capacity year-over-year change higher/(lower) were 3.5% to 4.5%, revenue consolidated PRASM (¢/ASM) is in the range of 12.00 to 12.24, total consolidated capacity year-over-year change higher/(lower) were 3.5% to 4.5%. The company expects an earnings per share range of $6.50 to $7.50 in 2018. Capital expenditures came out in 2017, $4.7 billion as the company had guided. And it also talked about this in the third quarter, was that it thought it'd be at about $1 billion less in 2018.

In the fourth quarter of 2017, the company recorded a $10 million ($6 million net of taxes) impairment charge related to obsolete spare parts inventory.