United Airlines Holdings (UAL)
NASDAQ:UAL
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Earnings Data
Report Date
Jul 22, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.8Last Year’s EPS
3.87Same Quarter Last Year
Strong Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong commercial momentum, robust revenue and yield acceleration, premium and loyalty growth, solid operational performance, significant free cash flow generation and decisive balance sheet actions — all supported by a large slate of product and fleet initiatives designed to de‑commoditize the airline. Counterbalancing these positives are a sharp and volatile increase in jet fuel costs (a $340M headwind in Q1), near‑term CASM‑ex pressure, proactive capacity reductions that reduce near‑term volume, regulatory constraints at O'Hare, and widened guidance reflecting scenario risk. On balance, the operational and financial strengths, material revenue momentum and clear plans to pass through fuel costs and protect margins outweigh the near‑term challenges and uncertainty.Company Guidance
Record Quarterly Revenue
Consolidated total operating revenue rose 10.6% year‑over‑year to a record first quarter of $14.6 billion; TRASM increased 6.9% year‑over‑year and all regions reported positive PRASM.
Strong Earnings and Margins
Q1 GAAP/non‑GAAP EPS was $1.19, up 31% year‑over‑year and within guidance; pretax margin expanded to 3.4%, a 40 basis point improvement versus prior year.
Robust Yield and Revenue Momentum
Selling ticket yields accelerated through the quarter (up ~4% Jan–Feb, ~12% early March, ~18% late March) and most recently sell‑in yields for future travel are up ~20% year‑over‑year; Q2 and full‑year RASM expected to be double‑digit increases.
Premium and Business Demand Strength
Premium revenues increased 13.6% on a 4.4% rise in premium capacity; premium RASM was up 8.9% year‑over‑year; business revenues were up ~14% year‑over‑year with recent business ticketing and revenue trends accelerating (~25% uplift in recent weeks).
Loyalty and Ancillary Performance
Loyalty revenue grew 13% in the quarter with healthy acquisition and spend after MileagePlus changes; five successful price increases and ancillary fee increases (including baggage) are beginning to offset higher fuel costs.
Operational Excellence
Carried a record number of passengers in Q1; ranked first in on‑time departures among the 8 largest U.S. carriers; per‑seat cancellation rate averaged 44% lower than the next two largest U.S. carriers; highest first‑quarter on‑time Net Promoter Score since the pandemic.
Digital & Customer Improvements
Record day‑of app usage of 86%, improved bag tracking, live TSA wait times and embedded live maps in disruption communications have improved recovery and personalization.
Balance Sheet Strength and Cash Generation
Generated $2.9 billion in free cash flow in Q1, paid down over $3.1 billion of debt (including $2.0 billion secured note repayment and $400 million aircraft debt prepayment), and completed a $2 billion unsecured bond issuance that tightened credit spreads; management notes highest credit rating in almost 30 years and tripled cash balance earlier.
Fleet and Product Investments
Deliveries of four high‑premium Boeing 787‑9s in Q1 with up to 16 more expected in 2026 (33 planned over two years); announced 50 A321 Coastliners and a combined fleet plan for ~100 A321s with premium lie‑flat beds and Premium Plus seats, plus new onboard products (A321 XLR, CRJ450, Relax Row).
Clear Multi‑Quarter Fuel Recovery Plan
Management expects to recapture 40%–50% of the increased fuel cost in Q2, 70%–80% in Q3 and 85%–100% by Q4, and is targeting double‑digit pretax margins in 2027 assuming continued pass‑through progress.
UAL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
UAL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 21, 2026 | $97.13 | $91.71 | -5.58% |
Jan 20, 2026 | $108.57 | $110.96 | +2.20% |
Oct 15, 2025 | $104.05 | $98.19 | -5.63% |
Jul 17, 2025 | $91.22 | $92.25 | +1.13% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does United Airlines Holdings (UAL) report earnings?
United Airlines Holdings (UAL) is schdueled to report earning on Jul 22, 2026, After Close (Confirmed).
What is United Airlines Holdings (UAL) earnings time?
United Airlines Holdings (UAL) earnings time is at Jul 22, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UAL EPS forecast?
UAL EPS forecast for the fiscal quarter 2026 (Q2) is 1.8.
