A United Airlines Boeing 757 departs from Los Angeles International Airport en route to New York on Sept. 19, 2024.
Kevin Carter | Getty Images
United Airlines‘ second-quarter earnings beat estimates and its CEO said travel demand is picking upafter a rocky start to 2025.
United expects to post adjusted earnings of between $9 and $11 per share in 2025 compared with the $10 a share analysts had expected. Amid economic uncertainty this spring, United in April had taken the the unusual step of issuing two earnings forecasts — $11.50 to $13.50 a share in a stable environment and $7 and $9 a share in a “recessionary environment.”
Here is what United Airlines reported for the quarter that ended June 30 compared with what Wall Street was expecting, based on estimates compiled by LSEG:
- Earnings per share: $3.87 cents adjusted vs. $3.81 expected
- Revenue: $15.24 billion vs. $15.35 billion expected
For the third quarter, United expected adjusted earnings of $2.25 and $2.75 a share, within analysts’ expectations.
“The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year,” CEO Scott Kirby said.
Travel demand, particularly from more price-sensitive customers for domestic flights, has come in weaker than airline executives expected at the start the year, sending airfares lower. Delta Air Lines last week reinstated its full-year forecast, which was lower than it expected at the start of the year.
United’s second-quarter revenue rose 1.7% from a year earlier to $15.24 billion, below the $15.35 billion analysts expected. Net income dropped 26% to $973 million, or $2.97 a share. Adjusting for one-time items, United reported $1.27 billion, or $3.87 a share.
The carrier said operational constraints at Newark Liberty International Airport, a major United hub, this year hit its second-quarter pretax margin by 1.2 points and forecast a third-quarter impact of 0.9.
The Federal Aviation Administration in May cut flights at Newark because of air traffic control staffing shortages and other issues.
American Airlines and Southwest Airlines are scheduled to report results next week.
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