NASDAQ$UAL
United Airlines Holdings Inc · Q2 2026 earnings
Q2 2026 earnings · · After market close · Investor relations
Briefing
United Airlines reported Q2 2026 net income of $805 million and raised full-year adjusted EPS guidance despite sharply higher fuel costs.
United delivered Q2 2026 operating revenue of $17.7 billion, up 16% year-over-year, with diluted EPS of $2.46 and adjusted diluted EPS of $1.99. Strong demand drove PRASM and yield growth of 12%, offsetting an 84% increase in fuel expense. The company raised full-year 2026 adjusted EPS guidance to $9.00-$11.00 while advancing its customer and network investments.
- Total operating revenue rose 16% to $17.7 billion with TRASM up 12.1% year-over-year.
- Adjusted pre-tax earnings reached $843 million despite $2.3 billion higher fuel costs.
- Full-year 2026 adjusted EPS guidance raised to $9.00-$11.00.
- Starlink installed on 450 aircraft; systemwide on-time departures best Q2 since 2021.
Headline financials
Revenue & EPS history
United Airlines · Revenue · Quarterly
$17.7B
Revenue by segment
United Airlines · $17.7B total across 3 segments · Q2 2026
- Passenger revenue$16.1B—91.1%
- Other operating revenue$1.05B—5.9%
- Cargo revenue$527M—3.0%
Forward guidance
Full-year 2026 adjusted diluted EPS guidance raised to $9.00-$11.00 despite nearly $6 billion higher anticipated fuel costs.
Tailwinds
- Strong demand and 12% yield growth
- Recovery of 80-100% of fuel cost increases expected in H2
Headwinds
- Nearly $6 billion increase in full-year fuel expense
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-0.5%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+3.4%
Avg return
30 days after
48%
33 / 69 earnings
Positive
+18.8%
Q1 2024
Best reaction
-15.4%
Q2 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +0.7% | -5.4% | +3.0% | |
| Q4 2025 | -1.2% | -0.7% | +4.1% | |
| Q3 2025 | -5.8% | -3.8% | -8.7% | |
| Q2 2025 | +1.8% | +0.7% | +7.5% | |
| Q1 2025 | -0.0% | -2.5% | +16.3% | |
| Q4 2024 | +0.5% | -2.2% | -4.6% | |
| Q3 2024 | +13.4% | +16.7% | +43.5% | |
| Q2 2024 | -1.4% | +2.4% | -10.6% | |
| Q1 2024 | +18.8% | +25.2% | +33.5% | |
| Q4 2023 | +4.3% | +9.6% | +13.5% | |
| Q3 2023 | -8.3% | -11.2% | -0.6% | |
| Q2 2023 | +3.2% | +2.3% | -10.4% | |
| Q1 2023 | +9.2% | +4.9% | +13.6% | |
| Q4 2022 | -5.4% | -4.2% | -5.2% | |
| Q3 2022 | +8.3% | +12.0% | +19.8% | |
| Q2 2022 | -9.7% | -12.4% | -9.6% | |
| Q1 2022 | +10.7% | +11.6% | -5.2% | |
| Q4 2021 | -6.0% | -9.3% | +4.0% | |
| Q3 2021 | -2.6% | -0.9% | +0.6% | |
| Q2 2021 | +10.7% | +9.4% | +1.1% | |
| Q1 2021 | -10.0% | -4.9% | -0.1% | |
| Q4 2020 | -4.8% | -9.8% | +7.3% | |
| Q3 2020 | -2.9% | +0.7% | +10.6% | |
| Q2 2020 | -2.0% | +1.7% | +5.3% | |
| Q1 2020 | -14.7% | -22.7% | -10.2% | |
| Q4 2019 | -7.1% | -8.7% | -10.9% | |
| Q3 2019 | +3.1% | +3.6% | +6.4% | |
| Q2 2019 | +3.8% | +2.7% | -10.6% | |
| Q1 2019 | +5.6% | +4.4% | -2.3% | |
| Q4 2018 | +8.1% | -3.2% | +8.6% | |
| Q3 2018 | +8.8% | +7.5% | +13.1% | |
| Q2 2018 | +9.3% | +12.0% | +13.3% | |
| Q1 2018 | +4.9% | +6.6% | +3.2% | |
| Q4 2017 | -10.2% | +14.4% | -7.5% | |
| Q3 2017 | -11.5% | -12.5% | -13.8% | |
| Q2 2017 | -6.9% | -10.3% | -18.9% | |
| Q1 2017 | -1.9% | +0.7% | +10.3% | |
| Q4 2016 | -0.4% | +4.3% | +2.4% | |
| Q3 2016 | +0.9% | +4.5% | +23.1% | |
| Q2 2016 | +1.2% | -0.3% | -0.2% | |
| Q1 2016 | -9.1% | — | — | |
| Q4 2015 | +3.5% | — | — | |
| Q3 2015 | +9.4% | — | — | |
| Q2 2015 | -1.0% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +5.6% | — | — | |
| Q3 2014 | +1.1% | — | — | |
| Q2 2014 | +1.7% | — | — | |
| Q1 2014 | -14.4% | — | — | |
| Q4 2013 | -6.2% | — | — | |
| Q3 2013 | +0.7% | — | — | |
| Q2 2013 | +3.7% | — | — | |
| Q1 2013 | -0.8% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | -5.2% | — | — | |
| Q2 2012 | -6.6% | — | — | |
| Q1 2012 | -3.5% | — | — | |
| Q4 2008 | -2.8% | — | — | |
| Q4 2011 | -2.8% | — | — | |
| Q3 2011 | -4.6% | — | — | |
| Q4 2010 | -4.6% | — | — | |
| Q2 2011 | -4.6% | — | — | |
| Q1 2010 | +4.8% | — | — | |
| Q1 2011 | -3.8% | — | — | |
| Q2 2010 | -15.4% | — | — | |
| Q3 2009 | +0.3% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q4 2009 | +2.8% | — | — | |
| Q2 2009 | +2.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro