Press release
United Airlines Reports Best First-Quarter Financial Performance in Five Years Despite Challenging Macroeconomic Environment
Q1 pre-tax margin up 4.9 points year-over-year, ahead of Wall Street consensus; up 3.6 points on an adjusted basis1 Q1 pre-tax margin expected to lead the
About this update from United Airlines Holdings, Inc.
[{"type":"text","content":"Q1 pre-tax margin up 4.9 points year-over-year, ahead of Wall Street consensus; up 3.6 points on an adjusted basis1\nQ1 pre-tax margin expected to lead the industry as United continues to attract more brand-loyal customers, improve the customer experience and demonstrate the resiliency of the business\nYear-to-date2 repurchased $451 million of shares \nUnited expects resilient earnings in Q2 and full-year 20253 despite uncertain macroeconomic environment and is removing 4 points of scheduled domestic capacity starting in the third quarter 2025\nGenerated operating cash flow of $3.7 billion in the first quarter and over $10 billion in the last 12 months; Over $2 billion of free cash flow4 in the first quarter and over $5 billion in the last 12 months\nDelivered best first-quarter operational performance since 2021\nCHICAGO, April 15, 2025 /PRNewswire/ -- United Airlines (UAL) today reported its best first-quarter financial results in the past five years, despite a challenging macroeconomic environment.\nUnited reported a first-quarter profit, with record revenue of $13.2 billion, and total revenue per available seat mile (TRASM) growth of 0.5% year-over-year. The company had first quarter pre-tax earnings of $478 million, with a pre-tax margin of 3.6%; and adjusted pre-tax earnings1 of $391 million, with an adjusted pre-tax margin1 of 3.0%. The company also achieved diluted earnings per share of $1.16 and adjusted diluted earnings per share1 of $0.91, within the guidance range provided at the start of the quarter.\nUnited continued to build brand loyalty in the first quarter and saw strong growth across its diversified revenue streams. Premium cabin revenue rose 9.2%, business revenue was up 7.4% and revenue from Basic Economy was up 7.6% year-over-year. International travel remained strong, with Atlantic RASM up 4.7% and Pacific RASM up 8.5% year-over-year. Other revenue streams such as cargo and loyalty remained resilient and were up 9.7% and 9.4% year-over-year, respectively. Forward bookings over the last two weeks have remained stable, with premium cabins up 17% and international up 5% year-over-year.\nUnited believes our proven ability to win brand-loyal customers is a competitive advantage and will make United resilient in any economic environment. In response to the current demand environment, United is removing 4 percent...