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United Airlines Holdings UAL Q2 2025 earnings

Reported July 16, 2025 · After market close

Revenue$15.2BMiss by $122.2M
EPS$3.87Beat by $0.06
Revenue estimate$15.4B
EPS estimate$3.81

Next report

Oct 21, 2026 (in 2 months)
Revenue estimate$17.8B
EPS estimate$3.08

Financials

Q2 2025

Income statement

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Revenue$15.2B+1.7%
Operating income$1.3B-31.3%
Net income$973.0M-26.5%
EPS (diluted)$2.97-25.0%

Balance sheet

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Cash & equivalents$9.5B-14.2%
Total debt$32.8B+3.7%
Total equity$13.4B+27.0%
Total assets$77.2B+5.3%

Cash flow

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Operating cash flow$2.2B-22.9%
CapEx$1.3B+10.6%
Free cash flow$930.0M-45.6%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$25.81B+61.6%
Enterprise value$49.06B+34.5%
P/E7.8×+2.4×
P/S0.4×+0.2×

Profitability

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Operating margin8.6%+0.1pp
Net margin5.7%+0.4pp
FCF margin7%+6.0pp

Returns & leverage

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Return on equity27.7%-4.5pp
Debt / equity2.5×-0.6×
Current ratio0.7×-0.1×

FAQ

When did United Airlines Holdings report Q2 2025 earnings?
United Airlines Holdings (UAL) reported Q2 2025 earnings on July 16, 2025 after market close.
What were United Airlines Holdings's Q2 2025 revenue and EPS?
United Airlines Holdings reported revenue of $15.2B and eps of $3.87 for Q2 2025.
Did United Airlines Holdings beat estimates in Q2 2025?
Revenue missed the consensus estimate of $15.4B by $122.2M. EPS beat the consensus estimate of $3.81 by $0.06.
How did United Airlines Holdings's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1.7% from $15.0B a year earlier and eps declined 6.5% from $4.14.
Where can I find United Airlines Holdings's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000100517-25-000143) and the 10-Q periodic report (0000100517-25-000147) directly on SEC EDGAR. The filing index links above go to sec.gov.