United Airlines Holdings (NASDAQ:UAL) could provide an industry outlook for the airline sector and an early look at the impact of flight delays and cancellations from Hurricane Milton when the company reports third-quarter financial results Tuesday after market close.
Earnings Estimates: Analysts expect the company to report third-quarter revenue of $14.78 billion, up from $14.48 billion in last year's third quarter, according to data from Benzinga Pro.
The company has beaten analysts’ revenue estimates in seven of the last eight quarters, missing estimates in the second quarter.
Analysts expect the company to report third-quarter earnings per share of $3.13, down from last year's $3.65 in the third quarter. The company has beaten earnings per share estimates from analysts in eight straight quarters.
Key Items to Watch: The impact of Hurricane Milton and Hurricane Helene in Florida could affect United Airlines’ future financial results. The company was one of many airlines that faced numerous cancellations and delays from the weather events.
While the results would be in the next reported quarter, United could share an early look at the financial impact and how the company is forecasting future results.
Margins and financials versus peers was a key theme in the company's second quarter results and could be an area to watch Tuesday.
"The revenue diversity advantages that we've built with our premium customers, Basic Economy customers, and domestic road warriors, on top of the world's best loyalty program and leading customer service, have propelled our margins to near the top of the industry," United CEO Scott Kirby said after second-quarter results.
The United CEO said he expected the company to have "leading unit revenue performance" versus peers in the second half of the third quarter.
Another item that won't be in the company's third-quarter results but could be highlighted during the earnings report and conference call is United's recent unveiling of new flights to new international territories in the company's largest international expansion.
Beginning in May 2025, United will offer several nonstop flights from its Newark/New York hub to international cities not served by other U.S. airlines.
The company's focus on international expansion and a boost in transatlantic flights could be something to watch in the sector.
United's earnings report comes ahead of several other major airlines, which could have investors monitoring the U.S. Global Jets ETF (NYSE:JETS), which tracks the airline sector. United has the largest weighting in the ETF, at 11.4% of assets.
UAL Price Action: United stock was up 2.8% to $63.53 on Monday, versus a 52-week trading range of $33.68 to $63.81, with the new high set during Monday's trading session. United stock is up 56% year-to-date in 2024.
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