United Airlines Q1 2024 Earnings Report

Exceeded revenue and EPS expectations, updated fleet plan for consistent narrowbody aircraft deliveries, and achieved the second-best first quarter on-time departure performance.

Key Takeaways

United Airlines reported a first-quarter 2024 pre-tax loss of $164 million, an improvement of $92 million over the same quarter last year. The adjusted pre-tax loss was $79 million, a $187 million improvement. The company generated $2.8 billion operating cash flow and $1.5 billion free cash flow. The company continues to expect full-year 2024 adjusted diluted earnings per share of $9 to $11.

First-quarter diluted loss per share of $0.38; first-quarter adjusted diluted loss per share of $0.15, ahead of expectations.

Updated fleet plan, allowing for a consistent delivery schedule of approximately 100 narrowbody aircraft yearly from 2025 through 2027.

Achieved second-best first quarter on-time departure performance in the company's history.

The demand environment remained strong with a double-digit percentage increase in business demand quarter over quarter, as compared to pre-pandemic.

Total Revenue

$12.5B

Previous year: $11.4B

+9.7%

EPS

-$0.15

Previous year: -$0.63

-76.2%