United Airlines reported record fourth-quarter 2025 revenue of $15.4 billion, exceeding consensus forecasts by approximately 0.35%, and delivered earnings per share of $3.10. This EPS figure represented a 5.4% beat over analyst estimates, even as it was down about 4% year-over-year. The company attributed a $250 million pre-tax earnings headwind to the November government shutdown, underscoring operational resilience in challenging conditions.

Premium cabins, corporate travel and loyalty programs drove much of United’s revenue growth, while main-cabin demand among lower-income consumers remained soft. Corporate ticket sales were reported to be high-single-digit percentage points above year-ago levels, with first-quarter 2026 earnings guidance pointing to a 37% year-over-year rise, reflecting strong business volumes.

To support sustained growth, United plans to take delivery of more than 100 narrowbody jets and around 20 widebody aircraft in 2026. This expansion is designed to enhance capacity flexibility across domestic and international routes and to address both premium and leisure segments as market conditions evolve.

Analysts maintain a consensus price target of $134.94 on United, implying over 21% upside from current levels. The stock trades at a trailing P/E of approximately 11.1× and a forward P/E near 8×, which compares favorably to its historical multiple. With eight analysts raising targets since the start of 2026—Citigroup leading with a $153 target—investors see both momentum-driven trading opportunities and longer-term accumulation potential in the $111–$116 range.