United Airlines The carrier is cutting its profit forecast for the year as fuel costs continue to rise, but the carrier said passengers continue to book.
United said Tuesday it expects to earn between 50 cents and $1.50 per share on an adjusted basis in the fourth quarter, well below the $1.76 per share expected by Wall Street analysts. At the high end of that range, that would bring United’s 2026 adjusted earnings to as low as $7.22 per share. In mid-July, United said it expected annual profit of between $9 and $11 per share.
The carrier expects to pay an average of $4.80 per gallon for fuel in the fourth quarter, compared to an average of $3.90 per gallon in the third.
Rising fuel prices this year have added billions of dollars to airline costs, eating into profits despite strong demand and pushing up airfares.
Here’s what United Airlines reported for the quarter ended September 30, compared to what Wall Street expected, based on estimates compiled by LSEG:
- Earnings per share: $2.54 adjusted vs. $2.57 expected
- Income: $17.88 billion versus $17.9 billion expected
United’s third-quarter net income rose 8.5% from a year earlier to $1.03 billion, or $3.14 per share. During the same period last year, its net income was $949 million, or $2.90 per share.
“Our people have risen to the challenge of our ever-changing environment and our results demonstrate the resilience of focusing on building a brand-loyal airline for customers,” United CEO Scott Kirby said in an earnings release.
United’s fuel bill increased nearly 62% in the quarter from a year earlier, to $4.84 billion.
Revenue for the quarter ended September 30 increased 17.4% from a year earlier to $17.88 billion, up from $15.23 billion the year before.
Domestic passenger unit revenues increased by 14.5% from the previous year, while international unit revenues increased by 17.4%, a sign of rising fares. Passengers continue to book, United said, with passenger numbers up more than 2% from last year.
Including one-time items, United reported net income of $833 million, or $2.54 per share.
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