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United Airlines Holdings UAL Q2 2025 earnings

Reported July 16, 2025 · After market close

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

Next report

Jul 15, 2026 (In 5 days)
Revenue estimate$17.6B
EPS estimate$1.87

Financials

Q2 2025

Income statement

See full
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

See full
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
See full
Market cap$25.81B+61.6%
Enterprise value$49.06B+34.5%
P/E7.8×+2.4×
P/S0.4×+0.2×

Profitability

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

Returns & leverage

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

Versus estimates

Revenue

Q1 2026$14.6BBeat by $221.4MQ3 2025$15.2BMiss by $107.0M
Q2 2025$15.2BMiss by $122.2M
Q1 2025$13.2BMiss by $18.9MQ3 2024$14.8BBeat by $68.8MQ2 2024$15.0BMiss by $52.9M

Diluted EPS

Q1 2026$1.19Beat by $0.11Q3 2025$2.78Beat by $0.13
Q2 2025$3.87Beat by $0.06
Q1 2025$0.91Beat by $0.16Q3 2024$3.33Beat by $0.16Q2 2024$4.14Beat by $0.21

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Questions, answered.

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 diluted 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 diluted EPS declined 6.5% from $4.14.
Where can I find United Airlines Holdings's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0000100517-25-000147) directly on SEC EDGAR. The filing index links above go to sec.gov.