United shares rise after Q1 profit beat, higher forward bookings

United Airlines UAL.O shares rise 6.4% to $71.30 premarket

Airline warns of profit risks if US economy falters, but says its forward bookings over the last two weeks have remained stable

United's Q1 profit came in at 91 cents/shr , topping analysts' expectations of 76 cents/shr –its first March quarter profit in five years, according to data compiled by LSEG

Shares of other carriers also rise, Delta Air Lines DAL.N up 2.9%, Southwest Airlines LUV.N up 2.6%, American Airlines AAL.O up 1.2%

United holds a trailing 12 months PE ratio of 6.26 vs industry median of 4.59

It expects to hit its FY profit forecast of $11.50 to $13.50/shr, given the demand environment remains stable and fuel prices stay around their current levels

Peers Delta and Frontier Airlines ULCC.O previously withdrew their FY forecasts

YTD, United Airlines down 31% vs 8.3% fall in the S&P 500 index .SPX