Revenue
Earnings
UAL has guided for earnings per share to range between $2.25-2.75 in Q3 2025. Analysts are predicting EPS of $2.67, which indicates a decline of nearly 20% from the prior-year quarter. In Q2 2025, adjusted EPS of $3.87 was down 6.5% YoY.
Points to note
United can be expected to benefit from relatively stable demand for travel. The Newark hub has recovered from its disruption which is a positive. However, on its last earnings call, the company said Newark’s negative impact on bookings in Q2 for future travel were expected to temporarily impact top line results in Q3 by about 1 point.
The airline’s revenue-diverse business model gives it resilience against macroeconomic volatility. It continues to see momentum in premium revenues and loyalty revenues. In Q2, premium cabin revenues rose nearly 6% YoY while loyalty revenues were up 9%.
United tends to rely on offshore and main cabin sales during the third quarter and these two segments have remained weak in 2025. The company anticipates unit revenues to be negative in Q3.
UAL can be expected to benefit from its diverse revenue streams and its premium offerings. The positive trends seen in bookings and yields may have benefited the to-be-reported quarter.