United Airlines Q3 revenue meets on record passenger traffic
UAL•United Airlines' third-quarter operating revenue rose 17% year over year to $17.90 billion, matching analyst expectations, while adjusted EPS of $2.54 missed the $2.57 consensus. The company expects fourth-quarter revenue to grow more than 20% year over year and set another record.
1. Quarterly results
United carried a record 49.5 million customers in the third quarter, including six of its 10 highest-volume travel days of the year. Adjusted net income was $833 million, below the $859.08 million consensus; net income was $1 billion and EPS was $3.14.
2. Revenue and outlook
Premium revenue rose 17% year over year, Basic Economy revenue increased 16%, loyalty revenue rose 17%, and cargo revenue climbed 23%. Contracted business revenue grew 26%. United expects fourth-quarter total operating revenue growth to accelerate versus the third quarter, with an increase of more than 20% year over year.
