UAL Q4 2010 Earnings Conference Call Thread [Discussion, Highlights, etc.]
Jan 26, 2011, 5:23 am
#1
Original Poster
Join Date: Apr 2005
Location: MBS/FNT/LAN
Programs: UA 1K, HH Gold, Mariott Gold
Posts: 9,630
UAL Q4 2010 Earnings Conference Call Thread [Discussion, Highlights, etc.]
Here are the year end results from UAL:
http://ir.united.com/phoenix.zhtml?c...992&highlight=
Here is the link to the conf call (it starts at 10:30EST):http://ir.united.com/phoenix.zhtml?p...ventID=3661203
I will be in the air during the call, so I will listen to it when I get home.
http://ir.united.com/phoenix.zhtml?c...992&highlight=
* UAL reported fourth-quarter 2010 net income of $160 million or $0.44 diluted earnings per share excluding $485 million of special items consisting primarily of merger-related costs and other special charges, an improvement of $347 million compared to the pro forma results year-over-year. On a GAAP basis, UAL reported fourth-quarter net loss of $325 million or $1.01 diluted loss per share.
* UAL reported pro forma full-year 2010 net income of $1.6 billion excluding $765 million of special items, resulting in a net margin of 4.8 percent. On a GAAP basis, UAL reported full-year 2010 net income of $253 million.
* UAL consolidated passenger revenue increased 15.8 percent in the fourth quarter of 2010 compared to the pro forma results for the same period in 2009. Fourth-quarter 2010 consolidated passenger revenue per available seat mile (PRASM) increased 11.5 percent compared to the pro forma results year-over-year.
* UAL ended the year with $8.7 billion in unrestricted cash, cash equivalents and short-term investments.
* Employees of the combined company earned $224 million in profit sharing for full-year 2010.
* UAL reported pro forma full-year 2010 net income of $1.6 billion excluding $765 million of special items, resulting in a net margin of 4.8 percent. On a GAAP basis, UAL reported full-year 2010 net income of $253 million.
* UAL consolidated passenger revenue increased 15.8 percent in the fourth quarter of 2010 compared to the pro forma results for the same period in 2009. Fourth-quarter 2010 consolidated passenger revenue per available seat mile (PRASM) increased 11.5 percent compared to the pro forma results year-over-year.
* UAL ended the year with $8.7 billion in unrestricted cash, cash equivalents and short-term investments.
* Employees of the combined company earned $224 million in profit sharing for full-year 2010.
Here is the link to the conf call (it starts at 10:30EST):http://ir.united.com/phoenix.zhtml?p...ventID=3661203
I will be in the air during the call, so I will listen to it when I get home.
Jan 26, 2011, 6:48 am
#2
Join Date: Jun 2004
Location: What I write is my opinion alone..don't read into it anything not written.
Posts: 9,685
UA/CO beet estimates 1.6b profit pre spec items (merger costs)
http://ir.unitedcontinentalholdings....992&highlight=
Make that "beat" in the title.
Looks like jhayes already has thread, so mod, delete if necessary, thnx.
Make that "beat" in the title.
Looks like jhayes already has thread, so mod, delete if necessary, thnx.
Last edited by FlyinHawaiian; Jan 26, 2011 at 9:25 am Reason: moved into existing thread
Jan 26, 2011, 7:13 am
#3
Join Date: Jun 2004
Location: Washington, DC
Programs: UA Gold 1MM, AA EXP, HH Diamond, MR Gold, Avis PC, Hertz PC
Posts: 1,252
According to this Bloomberg report, "Seating capacity will increase 1 percent to 2 percent for 2011, the company said, chiefly on the international flights that are typically more profitable than domestic routes."
I could be wrong, but I think this means that nothing will happen to E+ until at least 2012. It seems to me that adding E+ to CO or taking it away from UA would have a much bigger impact on overall seating capacity than the 1 to 2 percent guidance cited above.
I could be wrong, but I think this means that nothing will happen to E+ until at least 2012. It seems to me that adding E+ to CO or taking it away from UA would have a much bigger impact on overall seating capacity than the 1 to 2 percent guidance cited above.
Jan 26, 2011, 7:15 am
#4
Join Date: Aug 2005
Location: NYC
Programs: AA EXP, B6 Mosaic, UA Platinum, others
Posts: 1,270
I wonder what this means:
" selected key technology platforms "
in the release. Which platforms?
" selected key technology platforms "
in the release. Which platforms?
Jan 26, 2011, 9:22 am
#6
Join Date: Feb 2002
Location: NYC: UA 1K, DL Platinum, AAirpass, Avis PC
Posts: 4,599
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8C148 Safari/6533.18.5)
From the earnings call today...
- Seat configuration announcement in 30-60 days
- Co located in all hubs by end of 2Q (assume this means SFO too)
- Checkin at any counter starting late spring
- Combined website selling late spring
- United Club rolls out in 3Q
- Combined loyalty program details still "later this year"
- Before that....account combinations will roll out "soon"
An analyst noted they reduced their domestic capacity forecast -- and wondered if that baked in an assumption of expanding E+. They ignored the question for now.
From the earnings call today...
- Seat configuration announcement in 30-60 days
- Co located in all hubs by end of 2Q (assume this means SFO too)
- Checkin at any counter starting late spring
- Combined website selling late spring
- United Club rolls out in 3Q
- Combined loyalty program details still "later this year"
- Before that....account combinations will roll out "soon"
An analyst noted they reduced their domestic capacity forecast -- and wondered if that baked in an assumption of expanding E+. They ignored the question for now.
Last edited by FlyinHawaiian; Jan 26, 2011 at 9:24 am Reason: moved into existing thread
Jan 26, 2011, 10:00 am
#8
FlyerTalk Evangelist
Join Date: Jan 2009
Location: London & Sonoma CA
Programs: UA 1K, MM *G for life, BAEC Gold
Posts: 10,220
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8C148 Safari/6533.18.5)
From the earnings call today...
- Seat configuration announcement in 30-60 days
- Co located in all hubs by end of 2Q (assume this means SFO too)
......
From the earnings call today...
- Seat configuration announcement in 30-60 days
- Co located in all hubs by end of 2Q (assume this means SFO too)
......
Jan 26, 2011, 10:04 am
#9
Join Date: Mar 2008
Location: Houston
Programs: United MileagePlus Premier Silver/Hyatt Platinum
Posts: 360
Jan 26, 2011, 10:12 am
#10
FlyerTalk Evangelist
Join Date: Apr 2008
Location: LGA/JFK/EWR
Programs: UA 1K1.75MM, Hyatt Globalist, abandoned Marriott LTT (RIP SPG), Hertz PC
Posts: 21,166
So on the key issues (loyalty program, seat configuration), plan is to delay (bad news) as long as possible so that flyers will have higher switching costs if they plan to change carriers for 2012
Jan 26, 2011, 10:34 am
#11
FlyerTalk Evangelist
Join Date: Jul 2003
Location: BOS, PVG
Programs: United 1K and 1MM, Marriott Ambassador
Posts: 10,000
Jan 26, 2011, 10:38 am
#12
Join Date: Jun 2004
Location: What I write is my opinion alone..don't read into it anything not written.
Posts: 9,685
Source that this is the plan and the reason? You state this, not use the word "opinion" nor end in a question. Please site the source of this statement.
Jan 26, 2011, 10:38 am
#13
FlyerTalk Evangelist
Join Date: Apr 2008
Location: LGA/JFK/EWR
Programs: UA 1K1.75MM, Hyatt Globalist, abandoned Marriott LTT (RIP SPG), Hertz PC
Posts: 21,166
Jan 26, 2011, 11:38 am
#14
Join Date: Feb 2002
Location: NYC: UA 1K, DL Platinum, AAirpass, Avis PC
Posts: 4,599
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8C148 Safari/6533.18.5)
I'm not sure how saying seating configs will be announced in 30-60 days is dragging their feet.
You'll know that by the end of the first quarter. They've also made 2012 upgrade instrument benefits clear before this year started.
Originally Posted by UA-NYC
So on the key issues (loyalty program, seat configuration), plan is to delay (bad news) as long as possible so that flyers will have higher switching costs if they plan to change carriers for 2012
You'll know that by the end of the first quarter. They've also made 2012 upgrade instrument benefits clear before this year started.
Jan 26, 2011, 12:01 pm
#15
FlyerTalk Evangelist
Join Date: Nov 2009
Location: Northeast Kansas | Colorado Native
Programs: Amex Gold/Plat, UA *G, Hyatt Globalist, Marriott LT Gold, NEXUS, TSA Disparager Unobtanium
Posts: 21,599
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8C148 Safari/6533.18.5)
From the earnings call today...
- Seat configuration announcement in 30-60 days
- Co located in all hubs by end of 2Q (assume this means SFO too)
- Checkin at any counter starting late spring
- Combined website selling late spring
- United Club rolls out in 3Q
- Combined loyalty program details still "later this year"
- Before that....account combinations will roll out "soon"
An analyst noted they reduced their domestic capacity forecast -- and wondered if that baked in an assumption of expanding E+. They ignored the question for now.
From the earnings call today...
- Seat configuration announcement in 30-60 days
- Co located in all hubs by end of 2Q (assume this means SFO too)
- Checkin at any counter starting late spring
- Combined website selling late spring
- United Club rolls out in 3Q
- Combined loyalty program details still "later this year"
- Before that....account combinations will roll out "soon"
An analyst noted they reduced their domestic capacity forecast -- and wondered if that baked in an assumption of expanding E+. They ignored the question for now.
30-60 days for seating? They've had since October 1st...