United Airlines (UAL) 3Q 2025 earnings

United Airlines On Wednesday, it forecast higher-than-expected earnings for the fourth quarter after a rocky start to 2025.

The carrier expects to earn between $3 and $3.50 per share in the final three months of the year, compared to analysts’ estimates of $2.86 per share.

While United has expanded its flight capacity, its rivals have rolled back some of their growth plans after a glut of flights hit fares this year. The airline increased its capacity by 7% compared to last year in the third quarter. In the three-month period ending September 30, unit passenger revenue decreased by 3.3% for domestic travel and 7.1% for international travel. Sales from the lucrative loyalty program increased by 9%.

In an interview last month, United CEO Scott Kirby defended the airline’s growth plan, saying the airline is gaining loyal customers through its network, new technologies like free inflight Wi-Fi, revamped cabins and new lounges.

“These investments over nearly a decade, combined with the excellent service we receive from our employees, have allowed United to acquire and retain brand-loyal customers, leading to economic resilience despite macroeconomic fluctuations in the first three quarters of the year and a significant uptick in the fourth quarter as the economy and demand improved,” Kirby said in a statement Wednesday. he said.

Still, in the third quarter, United beat earnings expectations even though its revenue fell short of estimates.

Here’s what United Airlines reported for the quarter ending Sept. 30 compared to Wall Street’s expectations, based on estimates compiled by LSEG:

• Earnings per share: adjusted $2.78, expected $2.62
• Revenues: 15.33 billion dollars is expected against the expectation of 15.23 billion dollars

United’s third-quarter revenue rose 2.6% from last year, from $14.84 billion to $15.23 billion. Net income fell 1.7% to $949 million, or $2.90 per share. Adjusting for one-time items, including debt, among other things, United posted revenue of $909 million, or $2.78 per share.

Carrier competes Delta Airlines It has expanded its global network to far-flung destinations like Greenland and Mongolia to win over wealthier travelers who pay more for seats. United said premium cabin revenue, which includes first class and other spacious seats, rose 6% in the third quarter. United’s sales from no-frills basic economy are up 4% annually.

In the spring and early summer, United and other carriers lowered the earnings forecasts they made at the beginning of the year as passenger demand fell due to back-to-back schedules and a glut of flights hurt airfares.