United Airlines Holdings, Inc. (UAL)

United Airlines’ adjusted EPS trailed expectations while revenue was in line, based on preliminary results for the third fiscal quarter of 2026 reported October 20, 2026. Revenue rose 17% to about $17.9 billion (up from about $15.2 billion a year ago), with the consensus comparison showing revenue of $17.875 billion in line with the $17.894 billion estimate (-0.1%). Adjusted EPS came in at $2.54, down 9% from $2.78 a year ago, and EPS of $2.54 trailed the $2.57 estimate (-1.2%). Profitability included gross profit of roughly $12.0 billion with gross margin at about 67%, while operating income was about $1.4 billion and operating margin was near 8%. Net income increased 8% to roughly $1.0 billion (up from about $949.0 million a year ago), and the quarter generated operating cash flow of about $465 million. For the next period, consensus calls for EPS of $1.75 on revenue of $18.392 billion.