- Getty Images/Scott Olson
- Shares of United Continental are down more than 10% on Thursday. The company gave investors a disappointing pre-tax margin forecast.
The company beat Wall Street estimates on both the top and bottom lines, earning $2.22 a share on revenue of $9.87 billion, but it was the pre-tax margin forecast of between 3% and 5% for the fourth quarter that caught the attention of both Wall Street analysts and investors alike.
United also said that passenger revenue per available seat mile, a closely watched industry metric, slumped 3.7%, impacted by the hurricanes in the Atlantic. It expects that number to fall an additional 1% to 3% in the fourth quarter.
Shares of United are down more than 18% this year, including Thursday’s drop.
- Markets Insider