United's rising profit still misses and revenue falls
United Airlines' fourth-quarter profit spiked on cheaper jet fuel but still fell short of Wall Street expectations.
With jet fuel prices tumbling, airlines are making more money even while charging lower average fares.
Excluding one-time items, the company earned $2.54 per share, a nickel short of expectations by industry analysts according to polls by both Zacks Investment Research and FactSet.
Like other airlines, United was helped greatly by plunging oil prices, which helped cut its fourth-quarter fuel bill by 36 percent, a savings of $912 million from the year before.
There have been signs of progress — United rose to fourth among U.S. airlines in on-time performance in the latest government figures.
In a statement from the airline, Hart said that in the fourth quarter, United improved our operational performance, continued to invest in our products and services and achieved record financial performance.