## United Airlines Reports First-Quarter Earnings, Shares Rise in After-Hours Trading
United Airlines Holdings Inc. (UAL) reported its first-quarter financial results on Tuesday, exceeding analyst expectations and sending shares soaring in after-hours trading.
The company reported first-quarter revenue of $12.539 billion, surpassing the consensus estimate of $12.4 billion. United also reported an adjusted quarterly loss of 15 cents per share, beating analyst estimates for a loss of 57 cents per share.
Capacity increased by 9.1% year-over-year, while total revenue per available seat mile (TRASM) rose by 0.6%. Cost per available seat mile (CASM) decreased by 0.6%.
United adjusted its fleet plan to reflect production delays from Boeing. The company converted a portion of Boeing 737 Max 10 orders to Max 9 orders for delivery between 2025 and 2027. Additionally, United agreed to lease 35 new Airbus A321neos from two lessors, with deliveries expected in 2026 and 2027.
United ended the quarter with $16.9 billion in total liquidity and $27.2 billion in total debt and finance lease obligations.
profitably grow our mid-continent hubs and expand our highly profitable international network from our best in the industry coastal hubs."
United reiterated its expectations for full-year 2024 adjusted earnings of $9 to $11 per share, compared to analyst estimates of $9.67 per share. The company also revised its aircraft delivery estimates to 61 narrowbody and 5 widebody aircraft for 2024, reflecting the ongoing 737 Max grounding and production capacity constraints.
Following the earnings release, United Airlines shares jumped 4.75% in after-hours trading, reaching $43.47 at the time of publication.