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Wheels Up Experience (UP)
NYSE:UP
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Aug 12, 2021
|% Change Since: -24.88%
|Next Earnings Date:May 20, 2021
Earnings Call Sentiment|Positive
The earnings call reflects a positive outlook with stabilized revenue and significant operational improvements, including a successful fleet modernization strategy. While there are challenges such as a decline in membership revenue and on-time performance issues, the company has made significant strides in reducing losses and improving customer satisfaction.Company Guidance
In the third quarter earnings call for Wheels Up, CEO George Mattson highlighted several key metrics indicating the company's financial and operational progress. The adjusted contribution margin reached nearly 15%, almost doubling from the previous quarter and marking the highest since going public, reflecting improved operational performance and higher fleet utilization. The adjusted EBITDA loss was reduced by nearly 50% sequentially to $20 million, advancing towards the goal of achieving positive adjusted EBITDA in 2025. Block sales saw a significant increase, up 85% year-over-year to $147 million, driven by strong traction in corporate sales, particularly joint Delta accounts. Moreover, the company's fleet modernization strategy, including the acquisition of Embraer's Phenom 300 and 300E aircraft, is expected to enhance operational efficiency and profitability. With the support of a new $332 million credit facility from Bank of America, Wheels Up anticipates improvements in cash flow and liquidity, positioning the company for resumed growth in 2025.Stable Revenue and Operational Improvements
Revenue was $194 million in Q3, roughly flat sequentially, highlighting stability. Adjusted contribution margin was 14.8%, nearly double the second quarter, the highest since going public in 2021.
Significant Reduction in Adjusted EBITDA Loss
Adjusted EBITDA loss reduced by nearly 50% sequentially to $20 million, showing meaningful progress towards achieving positive adjusted EBITDA in 2025.
Strong Growth in Block Sales
Block sales were up over 85% year-over-year to $147 million, with joint Delta accounts representing the highest mix of overall block sales in September.
Fleet Modernization Strategy
Announced a fleet modernization strategy including acquisition of Embraer Phenom 300 and Bombardier Challenger 300 series aircraft, expected to complete in approximately 3 years.
Improved Customer Satisfaction
Nearly 50% increase in customer satisfaction, with almost 3/4 rating their experience as excellent or very good.
New Financing Commitment
Entered a commitment letter with Bank of America for up to $332 million revolving credit facility, supported by Delta Airlines.
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UP Earnings History
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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UP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $2.17 | $2.04 | -5.99% |
| Aug 08, 2024 | $1.85 | $1.67 | -9.73% |
| May 09, 2024 | $2.23 | $2.16 | -3.14% |
| Mar 07, 2024 | $2.75 | $2.41 | -12.36% |
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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FAQ
When does Wheels Up Experience (UP) report earnings?
Wheels Up Experience (UP) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Wheels Up Experience (UP) earnings time?
Wheels Up Experience (UP) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UP EPS forecast?
Currently, no data Available
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