NASDAQ$UAL
United Airlines Holdings Inc · Q4 2024 earnings
Q4 2024 earnings · · Investor relations
Briefing
Achieved record profit in Q4, surpassing expectations, and reaffirmed the path to double-digit pre-tax margin.
United Airlines reported strong Q4 2024 financial results with a significant increase in pre-tax margin. The company saw growth in premium, corporate, and Basic Economy revenues, as well as loyalty and cargo. They also finished first in on-time performance at all seven of their U.S. hubs.
- Q4 pre-tax margin increased by 3.2 points year-over-year, or 3.5 points on an adjusted basis.
- United finished the year as the leader in on-time departures across all seven of its United hubs.
- The company sees robust demand in the first quarter of 2025.
- Premium revenue was up 10%, corporate revenue was up 7% and revenue from Basic Economy was up 20% year-over-year.
Headline financials
Revenue & EPS history
United Airlines · Revenue · Quarterly
$14.7B
Revenue by segment
United Airlines · $14.5B total across 3 segments · Q3 2023
- Passenger$13.3B—92.2%
- Other Operating$802M—5.5%
- Cargo$333M-33.1%2.3%
Forward guidance
United sees strong demand trends in the first quarter with domestic RASM expected to turn solidly positive year-over-year, as well as continued improvement in international RASM.
Tailwinds
- Strong demand trends in the first quarter.
- Domestic RASM expected to turn solidly positive year-over-year.
- Continued improvement in international RASM.
- Airline operated its largest domestic schedule in fourth quarter history, at 11% more flights than last year.
- Airline flew the largest international schedule of any U.S. carrier by available seat miles – 35% larger than the next largest U.S. carrier.
Headwinds
- Execution risks associated with strategic operating plan.
- Changes in fleet and network strategy or other factors outside our control resulting in less economic aircraft orders.
- Reliance on a limited number of suppliers to source a majority of our aircraft, engines and certain parts.
- Unfavorable economic and political conditions in the United States and globally.
- High and/or volatile fuel prices or significant disruptions in the supply of aircraft fuel.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-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 |
|---|---|---|---|---|
| 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 2011 | -2.8% | — | — | |
| Q4 2008 | -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% | — | — | |
| Q2 2009 | +2.8% | — | — | |
| Q4 2009 | +2.8% | — | — |
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