United Continental Holdings Inc. (UAL) reported that its first-quarter net loss narrowed to $417 million or $1.26 per share, from $448 million or $1.36 per share in the same quarter last year.
But, net loss, excluding special charges, widened to $325 million or $0.98 per share from $286 million or $0.87 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $1.09 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenue for the quarter rose to $8.72 billion from $8.60 billion in the prior year quarter. Eleven analysts had consensus revenue estimate of $8.69 billion for the quarter.
First-quarter consolidated passenger revenue increased 0.7 percent to $7.6 billion, compared to the same period in 2012.
Consolidated revenue passenger miles or RPMs decreased 1.2 percent on a consolidated capacity or available seat miles decrease of 4.9 percent year-over-year for the first quarter. First-quarter 2013 consolidated load factor was 81.1 percent, an increase of 3.0 points versus the first quarter of 2012.
First-quarter consolidated passenger revenue per available seat mile or PRASM increased 5.9 percent compared to the same period in 2012.
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