United Airlines (UAL) 4Q 2025 earnings

United Airlines It said on Tuesday it could post record earnings this year thanks to strong travel demand in recent weeks for both premium seats and no-frills tickets.

The carrier expects adjusted earnings per share this year to be between $12 and $14, in line with analysts’ expectations of $13.16. United predicts earnings per share for the first quarter will be between $1 and $1.50, while analysts forecast $1.13 per share.

United reported full-year 2025 adjusted earnings per share of $10.20, up 8% annually, after the company previously lowered its forecast for this year. The airline also reported adjusted net income for the year was $3.5 billion, up 6% from the previous year.

Here’s what United Airlines reported for the quarter ending Dec. 31 compared to Wall Street’s expectations, based on estimates compiled by LSEG:

• Earnings per share: $3.10 vs expected $2.94
• Revenues: $15.4 billion against expectations of $15.4 billion

United joined rival Delta Airlines in forecasts of potential record earnings for the year. The two carriers accounted for nearly all of the U.S. airline industry’s profits in the first nine months of 2025. Other carriers will report later this month.

The carrier’s fourth-quarter profit rose 6% from a year earlier to $1.04 billion, or $3.19 per share, while its capacity increased 6.5% from the same period in 2024. Adjusting for one-time items, United reported earnings of $1.01 billion, or $3.10 per share.

United’s CEO, Scott Kirby, expressed confidence in the airline’s growth plan in an interview with CNBC last year, saying “customers choose us.”

All carriers are looking to generate revenue from higher priced tickets, such as first class tickets. United said premium revenues increased 9% in the fourth quarter and 11% in 2024 overall.

The longest government shutdown in the fourth quarter impacted United’s pretax results by $250 million, the company said.

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