Press release
United Airlines Announces Full-Year and Fourth-Quarter 2023 Financial Results
Full-year diluted earnings per share of $7.89; full-year adjusted diluted earnings per share1 of $10.05 Fourth quarter diluted earnings per share of $1.81,
About this update from United Airlines Holdings, Inc.
[{"type":"text","content":"Full-year diluted earnings per share of $7.89; full-year adjusted diluted earnings per share1 of $10.05\nFourth quarter diluted earnings per share of $1.81, adjusted diluted earnings per share1 of $2.00, ahead of expectations\nDelivered best quarterly on-time arrival performance in company history2\nNewark operations improved substantially with the best 4th quarter ever for on-time performance\nCHICAGO, Jan. 22, 2024 /PRNewswire/ -- United Airlines (UAL) today reported fourth-quarter and full-year 2023 financial results. The company delivered full-year diluted earnings per share of $7.89 and adjusted full-year diluted earnings per share1 of $10.05, achieving its initial full-year target of $10 - $12 set at the beginning of 2023.\nUnited's diversified revenue strategy proved, once again, to be a critical, differentiated, competitive advantage. United's premium cabin saw an increase in revenue of 16% for the quarter year-over-year, while its Basic Economy offering again saw a substantial revenue increase of 20% for the quarter year-over-year.\nUnited also benefited from cost convergence across the industry. This cost convergence resulted in a stronger relationship between United's unit costs and unit revenue performance. Combined with durable demand for travel and an increasing preference for United's reliable operational performance and premium offerings, the company delivered on its initial full year 2023 earnings per share guidance despite a wide range of headwinds.\n\"Our plans really came together in 2023, and I want to thank the United team for all of the hard work it took to get us there,\" said United Airlines CEO Scott Kirby. \"Despite unpredictable headwinds, we delivered on our ambitious EPS target that few thought possible – and set new operational records for our customers,\" said United Airlines CEO Scott Kirby. \"Looking ahead, we expect these trends to continue and United is incredibly well positioned to capitalize on them and to deliver on our short and long-term financial targets.\"\nFourth-Quarter Financial Results\nCapacity up 14.7% compared to fourth-quarter 2022.Total operating revenue of $13.6 billion, up 9.9% compared to fourth-quarter 2022.TRASM4 down 4.2% compared to fourth-quarter 2022.CASM4 down 0.1%, and CASM-ex1,4 up 4.9%, compared to fourth-quarter 2022.Pre-tax income of $0.8 billion, with a pre-tax ...