United’s Fourth Quarter and Full Year Earnings Live Event will be held tomorrow, January 22, 2020.For more information on our financial performance, please visit ir.united.com. Also, remember that Earnings Live is Wednesday from 3:30 p.m. to 4:30 p.m. CT. You can find more information about Earnings Live on the company’s website.
United reported fourth quarter net income of $641 million, diluted earnings per share (EPS) of $2.53, up 50% versus the fourth quarter of 2018, pre-tax earnings of $844 million and pre-tax margin of 7.8%, expanding pre-tax margin 2.5 points versus the fourth quarter of 2018.
United also reported fourth quarter adjusted net income of $676 million, adjusted diluted EPS of $2.67, up 11% versus the fourth quarter of 2018, adjusted pre-tax earnings of $889 million and adjusted pre-tax margin of 8.2%, expanding adjusted pre-tax margin 0.5 points versus the fourth quarter of 2018.*
For the full year, United reported net income of $3.0 billion, diluted EPS of $11.58, up 51% versus full year 2018, pre-tax earnings of $3.9 billion and pre-tax margin of 9.0%, expanding pre-tax margin 2.6 points versus full year 2018.
Finally, United also reported full-year adjusted net income of $3.1 billion, adjusted diluted EPS of $12.05, up 32% versus full year 2018, adjusted pre-tax earnings of $4.1 billion, adjusted pre-tax margin of 9.4%, expanding adjusted pre-tax margin 1.7 points versus the full year 2018.
* Excludes special charges, unrealized gains and losses on investments and imputed interest on certain finance leases. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included in the tables accompanying our earnings press release.