A United Airlines plane takes off from Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on June 9, 2026.
Joe Raedle | fake images
united airlinesSecond-quarter results beat Wall Street estimates, but billions of dollars in additional fuel costs continue to weigh on profits, the airline said Wednesday.
Here's what United Airlines reported for the quarter ending June 30 compared to what Wall Street expected, according to estimates compiled by LSEG:
- Earnings per share: $1.99 adjusted vs. $1.88 expected
- Revenue: $17.67 billion vs. $17.61 billion expected
United forecast third-quarter adjusted earnings per share of between $2.50 and $3.50, compared with analyst estimates of $3.60 per share. It estimated full-year adjusted earnings per share of between $9 and $11, the high end of the range of $7 to $11 adjusted per share it forecast in April, when it cut its January forecast after the United States and Israel attacked Iran in late February.
According to Argus data published by industry group Airlines for America, jet fuel prices at major US airports rose 34% in July alone through Tuesday amid a rollercoaster of escalating and de-escalating conflict between the US and Iran. Jet fuel is the biggest cost for airlines after labor.
United said higher fuel prices could add nearly $6 billion to its expenses this year compared to what it expected in early 2026, and that its second-quarter fuel costs rose 84% from last year to $2.3 billion. Those estimates were made based on Tuesday's fuel prices. It said it would cover up to 90% of its highest costs this quarter and all of it in the fourth quarter.
Rival Delta Airlines It also said it is passing more of those higher costs onto travelers. Airlines said demand has remained strong despite higher fares.
United said it is updating its forecast to include the latest fuel prices because costs have been so volatile. Since early July, fuel prices have weighed on third-quarter adjusted earnings by $1.12 per share, he said.
The airline could further cut its capacity plans due to higher fuel costs this year, it said in a statement.
United expanded its flights 3.5% in the second quarter. Its revenue rose 16% from a year earlier to $17.67 billion, and total unit revenue rose 12.1% in the second quarter from a year ago. This was the largest unit revenue growth since the beginning of 2023, according to FactSet.
The airline reported higher revenue for premium, corporate and basic economy tickets, as well as increased unit revenue for domestic and international travel.
Net income fell more than 17% to $805 million, or $2.46 per share. Adjusting for one-time items, United reported $649 million, or $1.99 per share on an adjusted basis.
United executives will hold an earnings conference call on Thursday at 10:30 a.m. ET.
