NYSE$UP
Wheels Up Experience Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Wheels Up's financial performance in Q3 2023 reflected a year-over-year revenue decrease but also showed improvements in adjusted contribution and adjusted EBITDA.
Wheels Up reported a decrease in revenue to $320 million, but showed improvements in adjusted contribution and EBITDA. The company secured a $450 million investment and is focusing on operational efficiency and profitability.
- Revenue decreased to $320 million year-over-year.
- Adjusted Contribution increased to $35 million year-over-year.
- Net loss decreased slightly year-over-year to $145 million, which includes a $56 million non-cash goodwill impairment charge.
- Adjusted EBITDA improved to a loss of $19 million year-over-year.
Headline financials
Revenue & EPS history
Wheels Up · Revenue · Quarterly
$320M
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
The company did not provide specific forward guidance in this earnings report. The report focuses on the strategic investment from Delta Air Lines and other partners, and the company's efforts to improve operational efficiency and profitability.
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 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 | — | — | — |
Discussion
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