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Jun 30, 2024
United Airlines Q2 2024 Earnings Report
Announced second-quarter earnings, achieving EPS expectations and demonstrating industry leadership in pre-tax margin.
Key Takeaways
United Airlines reported a strong second quarter in 2024, achieving pre-tax earnings of $1.7 billion and diluted earnings per share of $3.96. The company's revenue diversity advantages, including premium revenue and Basic Economy revenue, drove near-top-of-industry margins. United is strategically managing costs and capacity, expecting further improvements as industry-wide oversupply eases.
Achieved pre-tax earnings of $1.7 billion with an 11.6% pre-tax margin.
Diluted earnings per share reached $3.96, aligning with initial guidance.
Premium revenue grew by 8.5%, and Basic Economy revenue increased by 38% year-over-year.
Strategic cost management led to a 4.8% decrease in CASM.
United Airlines
United Airlines
United Airlines Revenue by Segment
United Airlines Revenue by Geographic Location
Revenue by Segment
Passenger Revenue
CapyFin.comCargo Revenue
CapyFin.comOther Operating Rev Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.comAtlantic Revenue
CapyFin.comPacific Revenue
CapyFin.comLatin America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
United expects leading unit revenue performance among its largest peers in the second half of the third quarter. The airline anticipates domestic capacity reductions and is positioned to benefit from its revenue diversity advantages.
Positive Outlook
- Expect best unit revenue performance among large peers in Q3.
- See mid-August as inflection point when industry-wide oversupply eases.
- Premium revenue growth continues to accelerate.
- Basic Economy revenue growth remains strong.
- Domestic road warrior market share is increasing.
Challenges Ahead
- Industry-wide oversupply in the domestic market persists.
- Airlines have begun to cancel loss-making capacity.
- Cost management remains a focus amid industry challenges.
- Capacity adjustments are being made to address current trends.
- The business outlook is subject to risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income