NYSE$UP
Wheels Up Experience Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Wheels Up reported a decrease in revenue and an increase in net loss, but showed improvement in Adjusted EBITDA and operational efficiency.
Wheels Up reported a decrease in revenue by 21% year-over-year to $335 million and an increase in net loss year-over-year to $161 million, which included a $70 million non-cash goodwill impairment charge. However, the company saw slight improvement in Adjusted EBITDA to a loss of $40 million and made progress on operational initiatives.
- Revenue decreased $90 million year-over-year to $335 million.
- Net loss increased year-over-year to $161 million, driven by a $70 million non-cash goodwill impairment charge.
- Adjusted EBITDA improved slightly year-over-year to a loss of $40 million.
- Company received a short-term capital infusion from Delta Air Lines and is pursuing strategic options.
Headline financials
Revenue & EPS history
Wheels Up · Revenue · Quarterly
$335M
Revenue by segment
Wheels Up · $287M total across 3 segments · Q2 2023
- Flight$235M-17.2%82.1%
- Other$29.8M-47.4%10.4%
- Membership$21.5M-10.6%7.5%
Forward guidance
Wheels Up is continuing to engage with strategic and financial partners around the path forward and look forward to sharing more information in the days ahead. Meanwhile, they are continuing to provide exceptional service and experiences to their customers, who are reaping the benefits of their continued focus on operations.
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 Q2 2023
-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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