United Airlines (UAL) Q4 2013 Earnings Call

Discussion in 'United Airlines | MileagePlus' started by davef139, Jan 23, 2014.  |  Print Topic

  1. davef139

    davef139 Gold Member

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    Alright another quarter down.

    *Disclosure I hold no holding for or against (I wanted to take puts out tho)

    Quick highlight..



    UAL Reports $1.1 Billion Full-Year 2013 Profit Excluding Special Charges, an 84 Percent Increase over 2012 Results; $571 Million Profit Including Special Charges
    UAL Reports $298 Million Fourth-Quarter 2013 Profit Excluding Special Charges; $140 Million Profit Including Special Charges
    UAL earned a 10.0 percent return on invested capital in 2013.
    UAL generated $38.3 billion of revenue in 2013, an increase of 3.0 percent year-over-year.
    United's consolidated passenger revenue per available seat mile (PRASM) increased 3.1 percent in 2013 compared to 2012.
    Full-year 2013 consolidated unit costs (CASM), holding fuel rate and profit sharing constant and excluding special charges and third-party business expense, increased 3.8 percent year-over-year on a consolidated capacity reduction of 1.4 percent. Full-year 2013 consolidated CASM increased 1.2 percent year-over-year.
    UAL ended 2013 with $6.1 billion in unrestricted liquidity.
    Employees earned $190 million in profit sharing for full-year 2013, which will be distributed on Feb. 14.
    For the 10th consecutive year, readers of Global Traveler magazine voted United's MileagePlus program the Best Frequent-Flyer program.


    UAL Reports $1.1 Billion Full-Year 2013 Profit Excluding Special Charges, an 84 Percent Increase over 2012 Results; $571 Million Profit Including Special ChargesUAL Reports $298 Million Fourth-Quarter 2013 Profit Excluding Special Charges; $140 Million Profit Including Special Charges
    UAL Reports $1.1 Billion Full-Year 2013 Profit Excluding Special Charges, an 84 Percent Increase over 2012 Results; $571 Million Profit Including Special ChargesUAL Reports $298 Million Fourth-Quarter 2013 Profit Excluding Special Charges; $140 Million Profit Including Special Charges
    [FONT=Arial, Georgia, Times New Roman, Times, serif]UAL Reports $1.1 Billion Full-Year 2013 Profit Excluding Special Charges, an 84 Percent Increase over 2012 Results; $571 Million Profit Including Special ChargesUAL Reports $298 Million Fourth-Quarter 2013 Profit Excluding Special Charges; $140 Million Profit Including Special Charges
    [/FONT]
    • UAL earned a 10.0 percent return on invested capital in 2013.
    • UAL generated $38.3 billion of revenue in 2013, an increase of 3.0 percent year-over-year.
    • United's consolidated passenger revenue per available seat mile (PRASM) increased 3.1 percent in 2013 compared to 2012.
    • Full-year 2013 consolidated unit costs (CASM), holding fuel rate and profit sharing constant and excluding special charges and third-party business expense, increased 3.8 percent year-over-year on a consolidated capacity reduction of 1.4 percent. Full-year 2013 consolidated CASM increased 1.2 percent year-over-year.
    • UAL ended 2013 with $6.1 billion in unrestricted liquidity.
    • Employees earned $190 million in profit sharing for full-year 2013, which will be distributed on Feb. 14.
    • For the 10th consecutive year, readers of Global Traveler magazine voted United's MileagePlus program the Best Frequent-Flyer program.
     
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  2. davef139

    davef139 Gold Member

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    Call at 9.30a CST btw
     
  3. UA191

    UA191 Silver Member

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    Pisses me off that earnings were up 84% from 2012, yet they're furloughing hundreds of FAs... I know it's union tactic, but still...
     
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  4. Wandering Aramean
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    Wandering Aramean Gold Member

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    Full release: http://ir.unitedcontinentalholdings...3680&p=irol-newsArticle&ID=1892942&highlight=

    The union says FAs can only work on "their side" of the house so that's the rule. Management would be much happier with a joint contract and the flexibility it will bring. Also, there's the part where this all started a decade ago when sUA slashed their mainline fleet and never put into place a plan to purchase new aircraft.
     
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  5. davef139

    davef139 Gold Member

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    Ok and we start
     
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  6. davef139

    davef139 Gold Member

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    Quarter and Full year results.

    Full year 1.1bln profit 84% YoY, $2.53/share
    Hit target of 10% ROICOver 35,000 E+ seats and full lieflat on longhaul
    170aircraft with wifi now
    inseat power on half of mainline
    152 airbii with new overheads and interior refreshing.
     
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  7. davef139

    davef139 Gold Member

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    New android app this spring.
    new website slowly rolling out this year.
     
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  8. davef139

    davef139 Gold Member

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    New phase of cust service training this year
    1aircraft/day with new wifi rollout
    adding new streaming video
    Tomm opening new SFO E Gates
    Q2 LHR goes to T2 and TB in BOS
     
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  9. Wandering Aramean
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    Wandering Aramean Gold Member

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    GS lobby at EWR next month. Power poles at all hubs this year.
     
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  10. davef139

    davef139 Gold Member

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    63 new Mainline and Regionals this year.
    Project Quality internal program sounds like a way to cut costs! Sorry missed msot of this as I had to watch some futures
     
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  11. davef139

    davef139 Gold Member

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    6300 canceled flights from Jan 1-7!

    80.6% ontime Mainline
    19mln ontime bonuses 54mln full year
    hit ontime marks 6months out of the year.
    reduced mx cancels by 14% YoY
     
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  12. davef139

    davef139 Gold Member

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    2013 reduced cap, 3rd year in row.
    2014 1-2% cap up. mostly coming from newer aircraft and slimline seats.
     
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  13. davef139

    davef139 Gold Member

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    I think heard flyer friendly 3times now :rolleyes:
     
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  14. Hartmann
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    Hartmann Gold Member

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    Implemented like they are at IAH, one every third gate?
     
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  15. Black Cloud
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    Black Cloud Gold Member

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    How many of those aircraft have a wifi uptime greater than 10%?
     
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  16. Wandering Aramean
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    Wandering Aramean Gold Member

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    Bragging about the TPAC network and SFO as best TPAC gateway. Clearly targeted at DL's SEA growth IMO.
     
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  17. davef139

    davef139 Gold Member

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    Lots more Aisia coming.
    Winter storms in Jan 0.6pts cap cut

    FAR 117.
    Adding buffers, new tools to monitor, hiring more pilots. Not much else "working on schedules to compnsate" I am sure Q&A will be good for this.
     
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  18. davef139

    davef139 Gold Member

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    Corp Rev up 7%

    E+ Rev up 36% jump on per seat basis
    3.5bln acnilary rev by 2017 goal 2.8 in 2013
     
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  19. Wandering Aramean
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    Wandering Aramean Gold Member

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    This is a HUGE number IMO.

    And that number should continue to rise as they expect to have E+ in the 3 main GDS platforms in 2014.
     
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  20. davef139

    davef139 Gold Member

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    Q2 - first phase of new website.
    Offering E+ through all 3 gdf providers
     
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  21. davef139

    davef139 Gold Member

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    Yeah wish they gave hard dollar numbers, seems E+ is super profitable
     
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  22. davef139

    davef139 Gold Member

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    3.5% Productivity increase in 2014
    2013 NEw aircraft
    24x 737-900
    2x 878

    retired 36 in 2013
    9 smaller aircraft on the sheet for the year

    36 new mainline in 2014
    30x 739
    6x 787 (2x -9)

    (missed the regional comments)

    738/9 get split scimitar (2% fuel savings)

    Fuel Eff improve 1.5% - 200mln savings
     
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  23. davef139

    davef139 Gold Member

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    TSA doubled security fee, 100mln more for UA, fees used for debt reduction not security
     
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  24. Wandering Aramean
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    Wandering Aramean Gold Member

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    17 E75s to join the fleet, I believe.
     
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  25. davef139

    davef139 Gold Member

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    Goverment tax bashing lol....
     
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