NYSE$UP
Wheels Up Experience Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Wheels Up reported record revenue driven by strong flight demand and membership growth, but net income decreased due to increased operating costs.
Wheels Up Experience Inc. announced record revenue for the third quarter of 2021, with a 55% increase year-over-year to $302.0 million. Active Members grew 45% year-over-year to 11,375, and Live Flight Legs increased 52% year-over-year to 19,714. However, the company experienced a net loss of $59.5 million, compared to a net income of $20.5 million in the same period last year.
- Revenue increased 55% year-over-year to $302.0 million.
- Active Members grew 45% year-over-year to 11,375.
- Live Flight Legs increased 52% year-over-year to 19,714.
- Net loss was $(59.5) million, a decrease of $(80.0) million year-over-year.
Headline financials
Revenue & EPS history
Wheels Up · Revenue · Quarterly
$302M
Revenue by segment
Wheels Up · $244M total across 3 segments · Q3 2021
- Flight$218M+55.7%89.5%
- Membership$18M+34.7%7.4%
- Other$7.63M+177.1%3.1%
Forward guidance
Wheels Up announced new capped rate pricing and program changes for membership programs, which will take effect on December 1, 2021.
Tailwinds
- Strategic relationship with American Express, offering their members exclusive benefits.
- Partnership has driven strong new flight activity, membership purchases, and fund block purchases.
- Partnership has driven a significant increase in mobile downloads during the quarter.
- Accelerated success in selling “UP for Business,” which has benefited from the commercial relationship with Delta Air Lines.
- Gives businesses the flexibility to fly both commercial and private
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 Q3 2021
-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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