Q4 FY2024 results ended on December 31, 2024
- Total operating revenue: $14.7B, +7.8% YoY
- Net income: $985M, +64.2% YoY
- Diluted EPS: $2.95 vs $1.81 in Q4 2023
- Pre-tax margin: 8.9% vs 5.7% in Q4 2023
CEO Scott Kirby: "United had a unique strategy coming out of COVID and our people have delivered for customers leading to a structurally and permanently changed industry. 2024 was a strong year across the board for United as we've become the leading global airline."
🌱Revenue & Growth
- Passenger revenue: $13.3B, +6.9% YoY
- Cargo revenue: $521M, +29.6% YoY
- Other revenue: $899M, +12.0% YoY
- Premium cabin revenue up 10% YoY
- Corporate revenue up 7% YoY
💰Profits & Financials
- Operating income: $1.5B, +50.6% YoY
- Operating margin: 10.2% vs 7.3% in Q4 2023
- Fuel cost per gallon: $2.40 vs $3.13 in Q4 2023
- Available liquidity: $17.4B
- Net leverage ratio: 2.4x vs 2.9x in Q4 2023
📌Business Highlights
- Carried record 174M customers in 2024
- First in on-time departures at all seven hubs
- Announced SpaceX Starlink for 1,000+ aircraft
- Launched MileagePlus pooling program
- Operating 145 more mainline flights per day vs 2023
- Added service to nine new international destinations
🔮Future Outlook
- Expects robust demand trends in Q1 2025
- Domestic RASM projected to turn positive YoY
- Continues to see improvement in international RASM
- On path to achieve double-digit pre-tax margins
- Reiterates confidence in industry transformation