United Continental Holdings Inc (NASDAQ:UAL) Q2 2015 Earnings Conference Call - Final Transcript
Jul 23, 2015 • 10:30 am ET
Good morning, and welcome to United Continental Holdings Earnings Conference Call for the Second Quarter of 2015. My name is Brandon [Phonetic], and I'll be your conference facilitator today. Following the initial remarks from management, we will open the lines for questions. [Operator Instructions] This call is being recorded, and is copyrighted. Please note that no portion of the call may be recorded, transcribed or rebroadcast without the company's permission. Your participation implies your consent to our recording of this call. If you do not agree with these terms, simply drop off the line.
I will now turn the presentation over to your host for today's call, Nene Foxhall, and Jonathan Ireland. Please go ahead.
Thank you, Brandon. Good morning, everyone, and welcome to United's second quarter 2015 earnings conference call. Joining us here in Chicago to discuss our results are Chairman, President and CEO, Jeff Smisek; Vice Chairman and Chief Revenue Officer, Jim Compton; Executive Vice President and Chief Operations Officer, Greg Hart; and Executive Vice President and Chief Financial Officer, John Rainey. Jeff will begin with some overview comments, after which Jim will discuss revenue and capacity. Greg will follow with an update on our operations. John will then review our cost, fleet, and capital structure after which we will open the call for questions, first from analysts, and then from the media. We'd appreciate it if you would limit yourself to one question, and one follow-up.
With that I'll turn it over to Jonathan Ireland.
Thanks, Nene. This morning we issued our earnings release, and separate investor update. Both are available on our website at ir.united.com. Information in this morning's earnings release, and investor update, and remarks made during this conference call may contain forward-looking statements, which represents the company's current expectations, or beliefs concerning future events, and financial performance.
All forward-looking statements are based upon information currently available to the company. A number of factors could cause actual results to differ materially from our current expectations. Please refer to our press release, Form 10-Q, and other reports filed with the SEC by United Continental Holdings, and United Airlines for more throughout description of these factors.
Also, during the course of our call, we'll discuss several non-GAAP financial measures. For reconciliation of these non-GAAP measures to GAAP measures please refer to the tables at end of our earnings release and investor update. Copies of which are available on our website. Unless otherwise noted, special charges are excluded as we walk through our numbers for the quarter. These items are detailed in our earnings release.
And now I'd like to turn the call over to Jeff.
Thanks, Nene and Jonathan, and thank you for joining us on our second quarter 2015 earnings call. Today we reported pre-tax earnings of $1.3 billion, the highest quarterly earnings in United's history. We earned $3.31 per diluted share, and produced an 18.2% return on invested capital over the last 12 months. In the quarter, we generated $1.8 billion of operating cash flow, and