Chicago-based United Airlines expressed confidence in its current financial outlook with the issuance of updated revenue guidance for the third quarter of 2018, as part of the company’s presentation at the Cowen and Company Annual Global Transportation Conference in Boston Sept. 5.

United now expects its third-quarter 2018 consolidated passenger unit revenue growth to be near the high end of its previously reported guidance range, which, compared to 3Q 2017, is expected to be up between 4% and 6%.

Similarly, United is expecting its pre-tax margin (excluding special charges and the mark-to-market impact of equity investments) to be near the high end of its announced guidance of between 8% and 10%, compared to 3Q 2017.

The optimistic outlook comes, United said, “despite higher commodity fuel prices in the third quarter pushing the expected consolidated average aircraft fuel price toward the high end of [United’s] previously provided guidance range of $2.27-$2.32 per gallon.”

United’s 2018 second-quarter revenue was up 7.7% year-over-year (YOY), but expenses rose 12.2% and the company’s operating income, at $1.2 billion, was down 19.2$ YOY. United’s 2Q net profit came to $684 million, down 16.7% YOY.

In July, then-acting United CFO Gerry Laderman said non-fuel unit costs had declined YOY in the second quarter and were expected to be flat to down 1% in the third quarter. Laderman was formally promoted to United EVP and CFO Aug. 22.

Mark Nensel