United Airlines (UAL) Surpasses Estimates, Bullish on 2026 Outlook
United Airlines (UAL) shares climbed 2% Wednesday after posting stronger-than-expected earnings and raising its 2026 profit forecast. The carrier reported Q4 EPS of $3.10 and full-year EPS of $10.62 for 2025, demonstrating resilience despite a $250 million government shutdown impact and operational headwinds.
CEO Scott Kirby framed 2025 as validation of United's diversified revenue strategy, calling the model "remarkably resilient in tough times." The airline projects 2026 adjusted EPS between $12.00-$14.00, with capital expenditures staying below $8 billion.
Financial restructuring progress included paying down high-cost pandemic debt, achieving five credit rating upgrades, and ending 2025 with improved leverage ratios. United now sits one notch below investment grade across major rating agencies.