United Airlines reported strong financial performance for 2024, with record profit sharing and operational achievements. International revenue and capacity growth were significant, with plans for EPS growth and strong free cash flow in 2025. However, challenges with FAA staffing and OEM production delays remain areas of concern.

Company Guidance

In the United Airlines Q4 2024 earnings call, the company provided robust guidance for 2025, anticipating an 18% increase in EPS at the midpoint, which translates to $11.50 to $13.50. This growth is supported by an expected 3.5-point improvement in pretax margin for Q1 2025, driven by strong operational performance and strategic adjustments in network capacity. The company also outlined plans to maintain cost efficiency, with a particular focus on managing labor and inflationary pressures, which are expected to add 2 to 3 points in CASM-ex pressure due to pending labor agreements. Additionally, the airline highlighted its continued investment in product differentiation, including the rollout of Starlink Wi-Fi, which is seen as a competitive advantage. United plans to leverage its MileagePlus program further to enhance revenue and customer experience, indicating a strong commitment to decommoditizing air travel and sustaining profitability amidst a challenging macroeconomic environment.

Record Profit Sharing

United Airlines will be paying out $713 million in profit sharing for 2024, signifying strong financial performance and employee involvement.

Operational Achievements

United served a record 174 million customers in 2024, with the busiest December in history, averaging 511,000 passengers a day.

International Revenue and Capacity Growth

United's international capacity, particularly in the Pacific and Atlantic regions, showed significant growth with margins above domestic averages.

EPS Growth and Free Cash Flow

United plans to grow its EPS by approximately 18% in 2025 and expects to generate around $3.4 billion in free cash flow, matching 2024's performance.

Debt Reduction and Improved Leverage

In 2024, United paid down $7.4 billion of debt, reducing net leverage to 2.4x, with a target to go below 2x in 2025.

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United Airlines Holdings (IT:1UAL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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IT:1UAL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 17, 2018	2018 (Q2)	- / 3.09	2.631	17.45% (+0.46)	―	―
Oct 16, 2018	2018 (Q3)	- / 2.93	2.124	37.84% (+0.80)	―	―
Jan 15, 2019	2018 (Q4)	- / 2.31	1.339	72.14% (+0.97)	―	―
Apr 16, 2019	2019 (Q1)	- / 1.10	0.478	130.00% (+0.62)	―	―
Jul 16, 2019	2019 (Q2)	- / 4.03	3.09	30.34% (+0.94)	―	―
Oct 15, 2019	2019 (Q3)	- / 3.89	2.928	33.01% (+0.97)	―	―
Jan 21, 2020	2019 (Q4)	- / 2.55	2.306	10.79% (+0.25)	―	―
Apr 30, 2020	2020 (Q1)	- / -2.46	1.1	-323.48% (-3.56)	―	―
Jul 21, 2020	2020 (Q2)	- / -8.91	4.028	-321.14% (-12.94)	―	―
Oct 14, 2020	2020 (Q3)	- / -7.81	3.894	-300.49% (-11.70)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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IT:1UAL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 21, 2025	€106.02	€105.42	-0.57%
Oct 15, 2024	€59.25	€65.62	+10.75%
Jul 17, 2024	€43.13	€43.09	-0.09%
Apr 16, 2024	€38.68	€44.01	+13.78%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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