United Airlines (NASDAQ:UAL) Releases Q2 2026 Earnings Guidance

Key Points

• United updated Q2 2026 EPS guidance to 1.000–2.000 (consensus 1.960) and trimmed FY 2026 guidance to 7.000–11.000 EPS, down from prior guidance of $12–$14.
• Management cited higher jet fuel costs—about a $340M drag in the quarter—and plans to pull roughly 5 points of planned capacity, which pressured margins and drove the guidance cut.
• Despite beating Q1 estimates (EPS $1.19 vs. $1.15; revenue $14.61B vs. $14.19B), shares fell about 1.8% to $97.13, and insiders (President Brett J. Hart) disclosed the sale of 19,000 shares.

United Airlines (NASDAQ:UAL - Get Free Report) issued an update on its second quarter 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.000-2.000 for the period, compared to the consensus estimate of 1.960. The company issued revenue guidance of -. United Airlines also updated its FY 2026 guidance to 7.000-11.000 EPS.

United Airlines Stock Down 1.8%

Shares of UAL traded down $1.78 during mid-day trading on Tuesday, reaching $97.13. 9,740,001 shares of the stock traded hands, compared to its average volume of 7,194,691. The stock has a fifty day simple moving average of $98.85 and a 200 day simple moving average of $102.50. United Airlines has a 12-month low of $65.26 and a 12-month high of $119.21. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.35. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 0.85 and a beta of 1.28.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its earnings results on Tuesday, April 21st. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $14.61 billion during the quarter, compared to the consensus estimate of $14.19 billion. United Airlines had a net margin of 5.68% and a return on equity of 25.13%. United Airlines has set its FY 2026 guidance at 7.000-11.000 EPS and its Q2 2026 guidance at 1.000-2.000 EPS. Sell-side analysts expect that United Airlines will post 7.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on UAL shares. Argus decreased their price objective on shares of United Airlines from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, January 22nd. Barclays boosted their price target on United Airlines from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, January 12th. Wells Fargo & Company reduced their price target on United Airlines from $145.00 to $130.00 and set an "overweight" rating for the company in a report on Monday, March 16th. Wall Street Zen lowered United Airlines from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, TD Cowen upgraded United Airlines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, United Airlines has a consensus rating of "Buy" and a consensus target price of $131.19.

Insider Activity

In other news, President Brett J. Hart sold 19,000 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $106.45, for a total value of $2,022,550.00. Following the transaction, the president directly owned 264,638 shares in the company, valued at approximately $28,170,715.10. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.86% of the company's stock.

Key United Airlines News

Here are the key news stories impacting United Airlines this week:

• Positive Sentiment: Q1 results beat expectations: United reported strong revenue growth, materially higher operating profit and EPS that beat Street estimates, with improved pre‑tax margins and solid cash generation — a clear fundamental beat supporting the stock. United Airlines (UAL) Releases Q1 2026 Earnings: Revenue Growth and Strong EPS Beat
• Positive Sentiment: Management highlights long‑term strategy gains — premium/economy cabin segmentation, MileagePlus enhancements and best‑in‑class on‑time performance — which support margin expansion and higher‑yield customers over time. United's Long-Term Strategy Remains Focused on Winning Brand-Loyal Customers, Boosted by Q1 Growth in Earnings and Margins
• Neutral Sentiment: Capacity pullback planned: United says it will cut about 5 points of planned capacity for the rest of the year (Q3/Q4 expected flat to +2%), a tactical move that can protect margins but may limit revenue upside if demand stays strong. United Tops Views, Plans To Cut Capacity Amid Fuel Price Surge. Alaska Air Earnings Mixed.
• Negative Sentiment: 2026 guidance cut: United trimmed its full‑year adjusted EPS outlook to $7–$11 from $12–$14, citing the impact of higher jet fuel tied to geopolitical developments — a key reason sentiment weakened despite the quarter beat. United Airlines slashes 2026 forecast as fuel costs surge
• Negative Sentiment: Jet fuel hit: Higher fuel costs added roughly $340M in the quarter, forcing tactical adjustments and pressuring margins if prices remain elevated. United Airlines Profit Rises Despite Higher Jet Fuel Costs
• Negative Sentiment: Merger noise and political scrutiny: Talk that United floated a tie‑up with American has been publicly rejected by American and drawn bipartisan questions about antitrust — the episode raises regulatory and reputational uncertainty. American Airlines Has Denied Rumors of a Merger With United. Here Are 2 Others Factors Dragging Down the Stock Right Now.
• Negative Sentiment: Insider selling flagged: Recent open‑market sales by top executives (reported in filings coverage) can be read negatively by some investors, adding to near‑term sentiment pressure. United Airlines (UAL) Releases Q1 2026 Earnings: Revenue Growth and Strong EPS Beat

Institutional Trading of United Airlines

Several hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in United Airlines by 0.5% during the 4th quarter. State Street Corp now owns 11,510,200 shares of the transportation company's stock worth $1,287,071,000 after buying an additional 52,962 shares during the last quarter. Par Capital Management Inc. lifted its stake in United Airlines by 1.6% in the fourth quarter. Par Capital Management Inc. now owns 4,894,850 shares of the transportation company's stock valued at $547,342,000 after buying an additional 75,000 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of United Airlines by 56.8% during the fourth quarter. AQR Capital Management LLC now owns 2,928,657 shares of the transportation company's stock valued at $325,549,000 after acquiring an additional 1,060,371 shares during the period. Boston Partners grew its position in shares of United Airlines by 4.5% during the third quarter. Boston Partners now owns 2,434,975 shares of the transportation company's stock worth $234,731,000 after acquiring an additional 105,525 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of United Airlines by 17.4% during the third quarter. Ameriprise Financial Inc. now owns 1,709,166 shares of the transportation company's stock worth $164,934,000 after acquiring an additional 253,033 shares during the last quarter. Institutional investors own 69.69% of the company's stock.

About United Airlines

United Airlines Holdings, Inc operates United Airlines, a major U.S. full-service passenger carrier providing scheduled air transportation for passengers and cargo. The company offers a comprehensive route network that covers domestic markets across the United States as well as extensive international service to Europe, Asia, Latin America, and the Pacific. United operates a mixed fleet of narrow- and wide-body aircraft on point-to-point and hub-and-spoke routes, and supports corporate and leisure travel through offerings such as premium cabins, basic economy, and ancillary services including baggage, seat selection and in-flight amenities.

In addition to passenger operations, United provides cargo services through United Cargo, handling freight, mail and specialized shipments.

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