United Airlines could hit record earnings after strong start to 2026

Jan 20, 2026 | Uncategorized

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A United Airlines airplane at the George Bush Intercontinental Airport in Houston, Nov. 6, 2025.
Brandon Bell | Getty Images

United Airlines

The carrier expects adjusted earnings per share of between $12 and $14 this year, in line with the $13.16 analysts expected. For the first quarter, United forecast per-share earnings of $1 to $1.50, while analysts had estimated $1.13 a share.

United joined its rival Delta Air Lines

United’s unit revenue fell 1.6% in the fourth quarter compared with last year. Still, United said premium revenue rose 9% in the fourth quarter and 11% for the full year over 2024. Restrictive basic-economy ticket sales, which compete with discount airlines, were up 7% in the last three months of 2025.

Most airlines are chasing revenue from higher-priced tickets like first class, racing to add in fresh, new cabins that command a premium.

Here is what United Airlines reported for the quarter that ended Dec. 31 compared with what Wall Street was expecting, based on estimates compiled by LSEG:

  • Earnings per share: $3.10 adjusted vs. $2.94 expected
  • Revenue: $15.4 billion vs. $15.4 billion expected

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

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

The longest-ever government shutdown, in the fourth quarter, hit pretax United results by $250 million, the company said. Air traffic controller shortages sparked delays and dented bookings but travel recovered, airline executives said.

United reported adjusted, full-year 2025 earnings of $10.20 a share, up 8% year over year, after the carrier had previously lowered its forecast for the year. The airline also reported adjusted net income of $3.5 billion for the year, up 6% from a year earlier.

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