Earnings·October 20, 2026 at 4:01 PM EDT·3 sources
United Airlines Misses Estimates, Squeezed by Soaring Fuel Costs
UAL -4.0%AAL
UAL · last 30 trading days+2.4% since the news
News
Third-quarter fuel bill$4.84 billion
Third-quarter net income$1.03 billion
Fourth-quarter adjusted earnings outlook50 cents to $1.50 a share
Analysts’ fourth-quarter earnings expectation$1.76 a share
What happened
- United Airlines forecast fourth-quarter adjusted earnings of 50 cents to $1.50 a share, below analysts’ expected $1.76.
- Third-quarter net income rose 8.5% to $1.03 billion, while revenue increased 17.4% to $17.88 billion.
- Fuel costs rose sharply, but higher fares and resilient passenger demand helped offset some of the impact.
Fourth-quarter adjusted earnings outlook
50 cents to $1.50 a share
Analysts’ fourth-quarter earnings expectation
$1.76 a share
Third-quarter net income
$1.03 billion
Third-quarter fuel bill
$4.84 billion
Why it matters
The results show how elevated jet-fuel costs are pressuring airline earnings even as demand remains resilient and carriers raise fares. The outlook is relevant to markets, credit and corporate-finance professionals assessing airline margins and cash-flow sensitivity.
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Timeline
- EarlierOct 19Stock Market Today: Stock Futures Rebound After Friday's Tech Selloff
- EarlierOct 20United CEO Kirby Defends Support of a US Wealth Tax
- First reported by BloombergOct 20United Airlines Misses Estimates, Squeezed by Soaring Fuel Costs
- CNBC reportsOct 20United Airlines slashes 2026 profit outlook on fuel prices, but travelers keep booking despite higher fares
- The Wall Street Journal reportsOct 20United Airlines Revenue Rises as Fare Hikes Offset Fuel Costs
Who is involved
United Airlines Misses Estimates, Squeezed by Soaring Fuel CostsUnited AirlinesUALAmerican Airlines Group Inc.AALScott Kirby
CompanyPerson
Sources (3)
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- Oct 20 · United CEO Kirby Defends Support of a US Wealth Tax
- Oct 21 · United ‘Still Solidly Profitable’ as Fuels Costs Rise, CEO Kirby Says
- Oct 21 · United Airlines set to open its biggest airport lounge in $2.6 billion overhaul at Houston hub
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