United Airlines Q3 revenue meets on record passenger traffic

United Airlines Holdings

Tue 21:10

Overview
US airline's Q3 operating revenue rose 17% yr/yr, meeting analyst expectations
Adjusted EPS for Q3 missed analyst expectations
Company expects Q4 revenue growth to accelerate and set another record

Outlook
United expects Q4 total operating revenue growth to accelerate versus Q3 and set another record with an over 20% year-over-year increase

Result Drivers
RECORD PASSENGER TRAFFIC - United carried a record 49.5 mln customers in Q3, with six of its 10 highest-volume travel days for the year
PREMIUM AND BASIC ECONOMY DEMAND - Premium revenue up 17%, Basic Economy up 16%, loyalty revenue up 17%, cargo revenue up 23% yr/yr
CONTRACTED BUSINESS REVENUE - Contracted business revenue rose 26% yr/yr, showing strong close-in demand across all industries

Company press release: ID:nPn2Kww3va

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Meet
$17.90 bln
$17.90 bln (16 Analysts)
Q3 Adjusted EPS
Miss
$2.54
$2.57 (20 Analysts)
Q3 EPS
 
$3.14
 
Q3 Adjusted Net Income
Miss
$833 mln
$859.08 mln (14 Analysts)
Q3 Net Income
 
$1 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 23 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the airlines peer group is "buy"
Wall Street's median 12-month price target for United Airlines Holdings, Inc. is $150.00, about 56.9% above its October 19 closing price of $95.60
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 11 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)