Overview

• United reported adjusted EPS of $2.78 versus estimates around $2.62–$2.66, with revenue of about $15.2 billion narrowly missing consensus near $15.28–$15.33 billion and net income at $949 million.
• Fourth‑quarter guidance calls for adjusted EPS of $3.00 to $3.50, and the company says momentum could deliver its highest quarterly operating revenue on record.
• Premium‑cabin revenue increased about 6% year over year and loyalty revenue rose about 9%, reflecting United’s multi‑year push into higher‑margin products and customer perks.
• Capacity grew roughly 7% year over year, pressuring unit revenue (TRASM down 4.3%) even as unit costs eased (CASM down 2.8%).
• Operational updates include Newark on‑time performance now comparable to LaGuardia and JFK, the start of Starlink Wi‑Fi service with a target of fleetwide installation by 2027, and ongoing air‑traffic‑control staffing risks linked to the government shutdown.