United Airlines lowers Q4 profit guidance due to rising jet fuel costs
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On October 21, 2026, United Airlines released its fourth-quarter business outlook, expecting adjusted earnings per share of $0.50 to $1.50 due to persistently high jet fuel costs, below analysts' expectation of $1.76. The company expects an average jet fuel price of $4.80 per gallon, about $0.45 above market consensus, a gap equivalent to about $1 per share. The upper end of the range implies United's 2026 adjusted earnings per share will not exceed $7.22. On the same day's earnings call, Chief Commercial Officer Andrew Nocella said the company's Q3 business revenue grew 22% year over year, yields rose 15%, and contracted business revenue grew 26%; Q3 passenger revenue grew nearly 18% to more than $16.2 billion, total revenue grew more than 17% to about $17.9 billion, and net profit exceeded $1 billion; quarterly capacity grew 1.3% year over year, and average fuel cost was $3.90 per gallon. An October 22 report said United recovered 72% of incremental fuel costs through fares in Q3, up from about 50% in Q2 but below the 80% to 90% guidance given in summer; the company expects a similar recovery rate in Q4 and has abandoned its previous goal of recovering 100% of fuel cost increases by the end of 2026, with Chief Financial Officer Mike Leskinen saying he is confident about full recovery but there is a lag.
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事件进展
- 10月22日 04:50 · 1reports美联航下调燃油成本回收目标Skift Feed：United Airlines passed on only 72% of incremental fuel costs in Q3, abandons year-end full recovery target
- 10月21日 12:00 · 1reports美联航第三季度商务收入同比增长22%Business Travel News：United Airlines' third-quarter business revenue increased 22% year-over-year
- 10月21日 09:42 · 1reports美联航因航油成本上涨下调第四季度利润预期Skift Feed：United Airlines lowers fourth-quarter profit guidance due to rising jet fuel costs
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- Skift FeedUnited Airlines passed on only 72% of incremental fuel costs in Q3, abandons year-end full recovery target
United Airlines recovered 72% of incremental fuel costs through fares in the third quarter, above about 50% in the second quarter but below the 80% to 90% guidance given in summer. The company expects a similar recovery rate in the fourth quarter and has abandoned its previous target of recovering 100% of fuel cost increases by the end of 2026. Chief Financial Officer Mike Leskinen said he is confident about fully recovering fuel cost increases, but there is a lag.
- Business Travel NewsUnited Airlines' third-quarter business revenue increased 22% year-over-year
United Airlines Chief Commercial Officer Andrew Nocella said on the earnings call that the company's third-quarter business revenue increased 22% year-over-year, yield rose 15%, and contracted business revenue grew 26%. Third-quarter passenger revenue grew nearly 18% to more than $16.2 billion, total revenue grew more than 17% to approximately $17.9 billion, and net profit exceeded $1 billion; capacity in the quarter increased 1.3% year-over-year, and the average fuel cost was $3.90 per gallon.
- Skift FeedUnited Airlines lowers fourth-quarter profit guidance due to rising jet fuel costs
United Airlines released its fourth-quarter business outlook on Tuesday. Due to persistently high jet fuel costs, it expects adjusted earnings per share of $0.50 to $1.50, below analysts' expectation of $1.76. The company expects an average jet fuel price of $4.80 per gallon, about $0.45 above market consensus, a difference equivalent to about $1 per share. The upper end of the range implies United Airlines' 2026 adjusted earnings per share will not exceed $7.22.