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$UAL (-0.18%) | United Airlines Q3'24 Earnings Highlights:


๐Ÿ”น Adj EPS: $3.33 (Est. $3.13) ๐ŸŸข; DOWN from $3.65 YoY

๐Ÿ”น Revenue: $14.84B (Est. $14.77B) ๐ŸŸข; UP +2.5% YoY

๐Ÿ”ธ Authorized a new $1.5B share repurchase program


Q4 Guidance:

๐Ÿ”น Adj EPS: $2.50 - $3.00 (Est. $2.75) ๐ŸŸก


Operational Metrics:

๐Ÿ”น Capacity (Available Seat Miles): 81.54B; UP +4.1% YoY

๐Ÿ”น Revenue Passenger Miles: 69.55B; UP +2.7% YoY

๐Ÿ”น Load Factor: 85.3% (vs. 86.4% YoY)ย 

๐Ÿ”น PRASM: 16.63 cents; DOWN -2.4% YoYย 

๐Ÿ”น CASM-ex: 12.26 cents; UP +6.5% YoYย 


Segment Revenue:

๐Ÿ”น Passenger: $13.56B; UP +1.6% YoY

๐Ÿ”น Cargo: $417M; UP +25% YoY

๐Ÿ”น Other: $865M; UP +7.9% YoY


Fuel Statistics:

๐Ÿ”น Fuel Consumed: 1.17B gallons; UP +3.4% YoY

๐Ÿ”น Average Fuel Price per Gallon: $2.56; DOWN -13% YoY


Share Repurchase Program:

๐Ÿ”ธ Board authorized a new $1.5B share repurchase program

๐Ÿ”ธ First buyback since suspension in 2020 due to COVID-19

๐Ÿ”ธ Limit of $500M in aggregate repurchases through year-end 2024


๐Ÿ”ธ Operational Highlights:

โ€” Generated $7.2B of operating cash flow and $3.4B of free cash flow year-to-date

โ€” Demand continues to be strong; Corporate revenues up 13% YoY in September

โ€” Premium revenues up 5% YoY; Basic Economy revenue up 20% YoY


CEO Scott Kirby's Commentary:

๐Ÿ”ธ "As predicted, unproductive capacity left the market in mid-August, and we saw a clear inflection point in our revenue trends that propelled United to exceed Q3 expectations."

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