We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
United Airlines Gears Up to Report Q3 Earnings: What's in the Cards?
Read MoreHide Full Article
Key Takeaways
United Airlines' Q3 earnings estimate has fallen 18.54% to $2.68 per share, implying a 3.6% annual decline.
Elevated fuel prices, labor costs and reduced flying are expected to pressure UAL's third-quarter margins.
Strong bookings and premium demand could lift United Airlines' Q3 revenues 17.2% to $17.84 billion.
United Airlines Holdings, Inc. (UAL - Free Report) is scheduled to report third-quarter 2026 results on Oct. 20, after market close.
United Airlines has an encouraging earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 5.79%.
Image Source: Zacks Investment Research
Let’s see how things have shaped up for United Airlines this earnings season.
Factors Likely to Have Influenced UAL’s Q3 Performance
The Zacks Consensus Estimate for UAL’s third-quarter 2026 earnings has been revised downward by 18.54% in the past 60 days to $2.68 per share. Moreover, the consensus mark implies a 3.6% decline from the year-ago actual. The consensus estimate lies within the company provided guided range of $2.50-$3.50.
Image Source: Zacks Investment Research
We expect high fuel costs to have dented UAL’s bottom-line performance in the September quarter. The ongoing conflict in the Middle East has resulted in a sharp jump in oil prices. This has been naturally hurting the bottom line of airlines because fuel expenses represent a key input cost for airlines. With most U.S. carriers having abandoned fuel hedging strategies, such an oil supply disruption has left them fully exposed to price spikes. The company’s outlook assumed an all-in fuel price of approximately $3.69 per gallon.
Labor and other nonfuel expenses remain a margin constraint. Management expects third-quarter CASM-ex to be the 2026 peak, but reduced flying keeps unit-cost pressure elevated until larger-gauge aircraft begin helping efficiency in 2027.
United Airlines also plans to trim flying when fuel makes marginal routes uneconomic. Management said in September 2026 that some December flights would be removed and further first-quarter 2027 adjustments were possible if fuel stayed elevated. These reductions protect cash generation but can limit near-term revenue capture while fixed costs are spread across fewer seat miles.
Despite the sharp rise in jet fuel price, solid bookings are likely to have aided UAL’s top-line performance in the September quarter. United Airlines continues to benefit from resilient demand, a richer premium and loyalty mix, and customer investments that support pricing. Given this encouraging backdrop, the Zacks Consensus Estimate for UAL’s third-quarter 2026 revenues is pegged at $17.84 billion, indicating 17.2% growth year over year.
What Our Model Says About UAL
Our proven model does not conclusively predict an earnings beat for United Airlines this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
United Airlines has an Earnings ESP of +0.17% and a Zacks Rank #5 (Strong Sell).
United Airlines Holdings Inc Price and EPS Surprise
United Airlines reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that they have the right combination of elements to beat on earnings this reporting cycle.
ODFL is scheduled to report third-quarter 2026 earnings on Oct. 28. The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised upward by 0.63% over the past 60 days. ODFL’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, with the average beat being 6.71%.
C.H. Robinson Worldwide (CHRW - Free Report) has an Earnings ESP of +3.43% and a Zacks Rank #2 at present. CHRW is scheduled to report third-quarter 2026 earnings on Oct. 28.
The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised upward by 1.82% to $1.68 per share over the past 60 days. CHRW’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters and met the mark on the other occasion. The average beat is 8.11%.
View the Zacks #1 Rank List
Image: Bigstock
United Airlines Gears Up to Report Q3 Earnings: What's in the Cards?
Key Takeaways
United Airlines Holdings, Inc. (UAL - Free Report) is scheduled to report third-quarter 2026 results on Oct. 20, after market close.
United Airlines has an encouraging earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 5.79%.
Let’s see how things have shaped up for United Airlines this earnings season.
Factors Likely to Have Influenced UAL’s Q3 Performance
The Zacks Consensus Estimate for UAL’s third-quarter 2026 earnings has been revised downward by 18.54% in the past 60 days to $2.68 per share. Moreover, the consensus mark implies a 3.6% decline from the year-ago actual. The consensus estimate lies within the company provided guided range of $2.50-$3.50.
We expect high fuel costs to have dented UAL’s bottom-line performance in the September quarter. The ongoing conflict in the Middle East has resulted in a sharp jump in oil prices. This has been naturally hurting the bottom line of airlines because fuel expenses represent a key input cost for airlines. With most U.S. carriers having abandoned fuel hedging strategies, such an oil supply disruption has left them fully exposed to price spikes. The company’s outlook assumed an all-in fuel price of approximately $3.69 per gallon.
Labor and other nonfuel expenses remain a margin constraint. Management expects third-quarter CASM-ex to be the 2026 peak, but reduced flying keeps unit-cost pressure elevated until larger-gauge aircraft begin helping efficiency in 2027.
United Airlines also plans to trim flying when fuel makes marginal routes uneconomic. Management said in September 2026 that some December flights would be removed and further first-quarter 2027 adjustments were possible if fuel stayed elevated. These reductions protect cash generation but can limit near-term revenue capture while fixed costs are spread across fewer seat miles.
Despite the sharp rise in jet fuel price, solid bookings are likely to have aided UAL’s top-line performance in the September quarter. United Airlines continues to benefit from resilient demand, a richer premium and loyalty mix, and customer investments that support pricing. Given this encouraging backdrop, the Zacks Consensus Estimate for UAL’s third-quarter 2026 revenues is pegged at $17.84 billion, indicating 17.2% growth year over year.
What Our Model Says About UAL
Our proven model does not conclusively predict an earnings beat for United Airlines this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
United Airlines has an Earnings ESP of +0.17% and a Zacks Rank #5 (Strong Sell).
United Airlines Holdings Inc Price and EPS Surprise
United Airlines Holdings Inc price-eps-surprise | United Airlines Holdings Inc Quote
Highlights of UAL’s Q2 Earnings
United Airlines reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that they have the right combination of elements to beat on earnings this reporting cycle.
Old Dominion Freight Line (ODFL - Free Report) has an Earnings ESP of +0.77% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ODFL is scheduled to report third-quarter 2026 earnings on Oct. 28. The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised upward by 0.63% over the past 60 days. ODFL’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, with the average beat being 6.71%.
C.H. Robinson Worldwide (CHRW - Free Report) has an Earnings ESP of +3.43% and a Zacks Rank #2 at present. CHRW is scheduled to report third-quarter 2026 earnings on Oct. 28.
The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised upward by 1.82% to $1.68 per share over the past 60 days. CHRW’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters and met the mark on the other occasion. The average beat is 8.11%.