NYSE$UP
Wheels Up Experience Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Wheels Up reported first quarter results, delivering continued operational performance improvements and positioned for long-term profitable growth.
Wheels Up's Q1 2024 revenue decreased by $155 million year-over-year to $197 million, with nearly half the decrease due to exiting the aircraft management and aircraft sale businesses. Net loss improved slightly year-over-year to $97 million, and Adjusted EBITDA was relatively flat at a loss of $49 million. The company saw sequential improvement in March, which is continuing into the second quarter, driven by rebalancing the revenue mix, reducing the cost structure, and improving operational execution.
- Total Revenue decreased $155 million year-over-year to $197 million, nearly half of which was due to exiting the aircraft management and aircraft sale businesses.
- Adjusted Contribution decreased $4 million year-over-year to $2 million.
- Net loss improved slightly year-over-year to $97 million.
- Adjusted EBITDA was relatively flat year-over-year at a loss of $49 million.
Headline financials
Revenue & EPS history
Wheels Up · Revenue · Quarterly
$197M
Revenue by segment
Wheels Up · $267M total across 3 segments · Q3 2023
- Flight$215M-23.0%80.4%
- Other$31.6M-47.5%11.8%
- Membership$20.6M-8.0%7.7%
Forward guidance
Wheels Up expects improvement in its financial profile over the course of the year, driven by rebalancing its revenue mix, reducing its cost structure, and improving its operational execution.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-3.5%
Avg return
Earnings day
-5.9%
Avg return
5 days after
-6.8%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+34.8%
Q2 2023
Best reaction
-36.2%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.8% | -16.6% | +13.8% | |
| Q4 2025 | -12.4% | -6.1% | -28.3% | |
| Q3 2025 | +5.1% | +3.3% | -49.6% | |
| Q1 2025 | -3.5% | -7.8% | +13.9% | |
| Q4 2024 | +5.6% | +1.9% | -25.2% | |
| Q3 2024 | -7.4% | -6.5% | -1.4% | |
| Q2 2024 | -4.9% | -9.2% | -8.6% | |
| Q1 2024 | +0.9% | +20.2% | -9.9% | |
| Q4 2023 | -12.0% | -10.5% | -3.3% | |
| Q3 2023 | -10.0% | -10.7% | +32.9% | |
| Q2 2023 | +34.8% | +18.8% | +137.5% | |
| Q1 2023 | -36.2% | -42.8% | -39.4% | |
| Q4 2022 | -12.2% | -24.3% | -29.1% | |
| Q3 2022 | -3.7% | -8.0% | -36.8% | |
| Q2 2022 | +10.2% | +4.7% | -32.5% | |
| Q1 2022 | +11.7% | +21.2% | -2.3% | |
| Q4 2021 | -11.4% | -12.0% | -11.7% | |
| Q4 2019 | -11.4% | -12.0% | -11.7% | |
| Q3 2021 | -20.9% | -20.9% | -42.5% | |
| Q2 2021 | -3.2% | -10.2% | -11.4% | |
| Q1 2021 | +0.0% | +0.0% | -0.1% | |
| Q4 2020 | +0.4% | -2.3% | -4.4% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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