United Airlines could hit record earnings after strong start to 2026

Airlines

United Airlines could hit record earnings after strong start to 2026

Published Tue, Jan 20 2026

4:04 PM EST

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Key Points

  • United Airlines said 2026 is off to a strong start, both for premium seats and no-frills tickets, as it reported fourth-quarter earnings.
  • Delta Airlines and United account for most of the U.S. airline industry's profits.
  • United executives will hold a conference call with analysts at 10:30 a.m. ET on Wednesday.

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A United Airlines airplane undergoes service at the George Bush Intercontinental Airport on Nov. 6, 2025 in Houston, Texas.

Brandon Bell | Getty Images

United Airlines on Tuesday said it could generate record earnings this year thanks to strong travel demand in recent weeks, both for premium seats and no-frills tickets.

The carrier expects adjusted earnings per share of between $12 and $14 this year, in line with the $13.16 analysts expected. For the first quarter, United forecast per-share earnings of $1 to $1.50, while analysts had estimated $1.13 a share.

United reported adjusted, full-year 2025 earnings of $10.20 a share, up 8% year over year, after the carrier had previously lowered its forecast for the year. The airline also reported adjusted net income of $3.5 billion for the year, up 6% from a year earlier.

Here is what United Airlines reported for the quarter that ended Dec. 31 compared with what Wall Street was expecting, based on estimates compiled by LSEG:

  • Earnings per share: $3.10 adjusted vs. $2.94 expected
  • Revenue: $15.4 billion vs. $15.4 billion expected

United joined its rival Delta Air Lines in forecasting potential record earnings for the year. The two carriers accounted for almost all of the U.S. airline industry's profit in the first nine months of 2025. Other carriers are set to report later this month.

The carrier's fourth-quarter profit rose 6% from a year earlier to $1.04 billion, or $3.19 a share, while capacity rose 6.5% from the same period in 2024. Adjusting for one-time items, United posted earnings of $1.01 billion, or $3.10 a share.

United's CEO Scott Kirby has expressed confidence in the airline's growth plan, saying in an interview with CNBC last year that "customers are choosing us."

All carriers are chasing revenue from higher-priced tickets like first class. United said premium revenue rose 9% in the fourth quarter and 11% for the full year over 2024.

The longest-ever government shutdown in the fourth quarter hit pretax United results by $250 million, the company said.

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