2025 Earnings Outlook
United Airlines forecasts record earnings per share (EPS) for the current year, projecting adjusted EPS between $12 and $14. This projection is supported by robust travel demand, including strong sales in premium seats, business travel, and basic-economy tickets.
For the first quarter, the carrier expects EPS between $1 and $1.50. United's outlook aligns with Delta Air Lines' forecasts for potential record earnings for the year. Both carriers were responsible for nearly all U.S. airline industry profits in the first nine months of 2025.
Fourth Quarter 2025 Performance
United Airlines reported an adjusted EPS of $3.10 for the quarter ending December 31, surpassing the $2.94 expected. Revenue for the quarter reached $15.4 billion, meeting analyst estimates.
The carrier's fourth-quarter profit increased by 6% from the previous year, totaling $1.04 billion, or $3.19 per share. Adjusted for one-time items, earnings were $1.01 billion, or $3.10 per share. Capacity grew by 6.5% compared to the same period in 2024.
Unit revenue decreased by 1.6% in the fourth quarter compared to the prior year. However, premium revenue saw a 9% rise in the fourth quarter and an 11% increase for the full year over 2024. Sales of basic-economy tickets, designed to compete with discount airlines, rose by 7% in the last three months of 2025. This trend aligns with a broader industry focus on maximizing revenue from higher-priced ticket options.