The earnings call highlights United Airlines' strong performance in revenue growth, operational efficiency, and cost management, despite facing challenges at Newark Airport and weaker-than-expected demand. The company demonstrated resilience and adaptability, with improvements in premium cabin revenues and strategic debt reduction. However, the decline in domestic and Atlantic RASM and initial demand weakness pose challenges moving forward.

Company Guidance -

Q3 2025

During the United Airlines Holdings' Earnings Conference Call for the second quarter of 2025, key metrics and guidance were provided that underscored the company's strategic focus and operational performance. United reported a 1.7% increase in top-line revenue, reaching a record $15.2 billion. Consolidated TRASM was down 4% on a 5.9% increase in capacity, with international operations outperforming domestic ones. The company highlighted an EPS of $3.87, within their guidance range and above Wall Street expectations, despite challenges such as geopolitical tensions, high fuel prices, and operational issues at Newark. United's forward guidance anticipates a third-quarter EPS between $2.25 and $2.75 and full-year EPS between $9 and $11, bolstered by a recent 6-point improvement in demand and strategic capacity adjustments. The airline also emphasized its commitment to brand loyalty, revenue diversification, and operational resilience, which are expected to drive future growth and maintain competitive margins within the industry.

Record Revenue Achievement

United's top-line revenue increased 1.7% to a record $15.2 billion in the second quarter.

Operational Excellence

United ranked #2 in on-time departure among the top 8 U.S. carriers and managed record high customer volumes, including the busiest travel day in United's history with over 611,000 passengers on June 22.

Premium Cabin Revenue Growth

Premium cabin revenues increased 5.6% year-over-year, demonstrating continued strong demand for premium services.

Improved Newark Operations

Newark rebounded to become the best performing airport in the New York City area after initial disruptions.

Successful Cost Management

Cost performance exceeded expectations with a 2.2% CASM-ex growth in the second quarter, with similar performance expected for the remainder of the year.

Free Cash Flow Generation

United expects to generate over $2 billion in free cash flow for the year.

Debt Reduction

United paid down the remaining $1.5 billion balance of their MileagePlus bonds two years early, reducing gross debt by almost $11 billion since the peak debt level of COVID.

United Airlines Holdings (UAL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

UAL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 21, 2025	2025 (Q3)	2.54 / -	3.33	―	―	―
Jul 17, 2025	2025 (Q2)	3.81 / 3.87	4.14	-6.52% (-0.27)	―
Apr 15, 2025	2025 (Q1)	0.75 / 0.91	-0.15	706.67% (+1.06)	―
Jan 21, 2025	2024 (Q4)	3.04 / 3.26	2	63.00% (+1.26)	―
Oct 15, 2024	2024 (Q3)	3.17 / 3.33	3.65	-8.77% (-0.32)	―
Jul 17, 2024	2024 (Q2)	3.93 / 4.14	5.03	-17.69% (-0.89)	―
Apr 16, 2024	2024 (Q1)	-0.54 / -0.15	-0.63	76.19% (+0.48)	―
Jan 22, 2024	2023 (Q4)	1.69 / 2.00	2.46	-18.70% (-0.46)	―
Oct 17, 2023	2023 (Q3)	3.38 / 3.65	2.81	29.89% (+0.84)	―
Jul 19, 2023	2023 (Q2)	4.03 / 5.03	1.43	251.75% (+3.60)	―

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
Jul 17, 2025	$91.22	―	―
Apr 15, 2025	$67.00	$66.99	-0.01%
Jan 21, 2025	$110.52	$107.97	-2.31%
Oct 15, 2024	$64.05	$72.02	+12.44%

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.