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Sep 30, 2023

United Airlines Q3 2023 Earnings Report

Revenue beat consensus on solid domestic and record-breaking international performance.

Key Takeaways

United Airlines reported strong Q3 2023 financial results, with revenue up 12.5% year-over-year, driven by solid domestic demand and record-breaking international performance, particularly in the Atlantic and Pacific regions. The company's pre-tax income increased by 29% year-over-year, and on an adjusted basis, increased by 37%.

Company had record setting profits in both Atlantic and Pacific regions

Pre-tax income increased 29% y-o-y; on an adjusted basis increased 37%

Delivered strong operational performance, with September being best on-time performance of the year

Increasingly powerful segmentation strategy proving to be a competitive advantage

Total Revenue
$14.5B
Previous year: $12.9B
+12.5%
EPS
$3.65
Previous year: $2.81
+29.9%
Passenger Revenue / ASM
$17
Previous year: $17.2
-1.0%
Cost per ASM
$16.3
Load Factor
86.4%
Previous year: 87.3%
-1.0%
Gross Profit
$4.44B
Previous year: $3.75B
+18.5%
Cash and Equivalents
$7.48B
Previous year: $11.3B
-33.6%
Free Cash Flow
-$962M
Total Assets
$73.2B
Previous year: $69B
+6.1%

United Airlines

United Airlines

United Airlines Revenue by Segment

United Airlines Revenue by Geographic Location

Forward Guidance

UAL will hold a conference call to discuss third-quarter 2023 financial results, as well as its financial and operational outlook for fourth-quarter 2023 and beyond, on Wednesday, Oct. 18.

Revenue & Expenses

Visualization of income flow from segment revenue to net income