MIAMI — United Airlines reported a net profit of $965 million for the third quarter (Q3) of 2016 yesterday, and will be hosting its Q3 earnings call today, October 18. The call featured presentations from United Airlines’ CEO Oscar Munoz, newly minted President Scott Kirby, Chief Commercial Officer (CCO) Julia Haywood, and Chief Financial Officer (CFO) Andrew Levy.
Airways Senior Business Analyst Vinay Bhaskara live-blogged the call earlier today via the ReplyAll tool. You can read a transcript of his commentary of the call below. His overall take on today’s announcement was:
My overall take is that United has made several strides in strategy and has a good tag-team with Julia Haywood and Scott Kirby. I like a lot of the initiatives United has put in place to improve its product and operations, and I think you’ll start to see them materially pay off next year. More to the point, much of what I disliked hearing from United on the call is the stuff surrounding labor expenditures, PRASM in general, share buybacks, etc. But none of that is specific to United versus its peers. We’ve gone from a place where United has specific and deeper woes than its peers to a place where United has the same problems. That’s unabashed progress.
Beyond that, it was a pretty uneventful call – United Airlines is clearly holding something back for its Investor Day on November 15