For the quarter ended March 2026, United Airlines (UAL) reported revenue of $14.61 billion, up 10.6% over the same period last year. EPS came in at $1.19, compared to $0.91 in the year-ago quarter.
The reported revenue represents a surprise of +2.03% over the Zacks Consensus Estimate of $14.32 billion. With the consensus EPS estimate being $1.08, the EPS surprise was +10.19%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how United performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Passenger load factor - Consolidated: 81.6% versus 81.3% estimated by four analysts on average. Total revenue per available seat mile (TRASM): 18.8 cents versus the three-analyst average estimate of 18.44 cents. CASM-ex (excluding special charges, third-party business expenses, fuel, and profit sharing): 13.95 cents versus 13.6 cents estimated by three analysts on average. Average aircraft fuel price per gallon: $2.78 versus the three-analyst average estimate of $2.86. ASMs (Available seat miles): 77.7 billion compared to the 78.24 billion average estimate based on three analysts. PRASM (Passenger revenue per available seat mile): 16.95 cents compared to the 16.61 cents average estimate based on three analysts. RPMs (Revenue passenger miles): 63.39 billion versus the three-analyst average estimate of 63.69 billion. Cost per ASM (CASM): 17.52 cents compared to the 17.82 cents average estimate based on two analysts. Fuel gallons consumed: 1,093.00 MGal compared to the 1,099.55 MGal average estimate based on two analysts. Operating revenue- Passenger revenue: $13.17 billion versus $13 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11% change. Operating revenue- Other operating revenue: $1.02 billion versus $966.78 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change. Operating revenue- Cargo: $422 million compared to the $451.98 million average estimate based on four analysts. The reported number represents a change of -1.6% year over year.View all Key Company Metrics for United here>>>
Shares of United have returned +5.3% over the past month versus the Zacks S&P 500 composite's +9.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.Beyond Nvidia: AI's Second Wave Is Here
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United Airlines Holdings Inc (UAL): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).