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United Airlines Holdings UAL Q3 2025 earnings

Reported October 15, 2025 · After market close

Revenue$15.2BMiss by $107.0MDiluted EPS$2.78Beat by $0.13
Revenue estimate$15.3B
EPS estimate$2.65

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$15.2B+2.6%
Operating income$1.4B-10.9%
Net income$949.0M-1.7%
EPS (diluted)$2.900.0%

Balance sheet

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Cash & equivalents$6.9B-23.9%
Total debt$31.3B+2.4%
Total equity$14.3B+25.1%
Total assets$76.3B+5.1%

Cash flow

See full
Operating cash flow$1.2B-18.7%
CapEx$1.5B+3.8%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$31.24B+66.5%
Enterprise value$55.69B+38.1%
P/E9.5×+2.7×
P/S0.5×+0.2×

Profitability

See full
Operating margin8.3%+0.1pp
Net margin5.6%+0.7pp

Returns & leverage

See full
Return on equity25.6%-1.7pp
Debt / equity2.2×-0.5×
Current ratio0.7×-0.1×

Versus estimates

Revenue

Q1 2026$14.6BBeat by $221.4M
Q3 2025$15.2BMiss by $107.0M
Q2 2025$15.2BMiss by $122.2MQ1 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 $0.11
Q3 2025$2.78Beat by $0.13
Q2 2025$3.87Beat by $0.06Q1 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 Q3 2025 earnings?
United Airlines Holdings (UAL) reported Q3 2025 earnings on October 15, 2025 after market close.
What were United Airlines Holdings's Q3 2025 revenue and EPS?
United Airlines Holdings reported revenue of $15.2B and diluted EPS of $2.78 for Q3 2025.
Did United Airlines Holdings beat estimates in Q3 2025?
Revenue missed the consensus estimate of $15.3B by $107.0M. EPS beat the consensus estimate of $2.65 by $0.13.
How did United Airlines Holdings's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.6% from $14.8B a year earlier and diluted EPS declined 16.5% from $3.33.
Where can I find United Airlines Holdings's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000100517-25-000190) and the 10-Q periodic report (0000100517-25-000193) directly on SEC EDGAR. The filing index links above go to sec.gov.