United Airlines Holdings Inc (NASDAQ:UAL, ETR:UAL1) expects higher-than-predicted profits in the fourth quarter after beating third-quarter earnings forecasts.
The airline reported adjusted earnings of $3.33 per share, surpassing Wall Street’s estimate of $3.17.
It now anticipates a fourth-quarter profit of $2.50 to $3 per share. Alongside this, United announced a $1.5 billion share buyback program, its first since the pandemic, signalling confidence in its recovery.
The company noted that domestic revenue improved in August and September, after a summer of discounted fares due to excess seat availability.
Airlines have since cut capacity, which, combined with falling jet fuel prices, has boosted industry performance. United's shares have risen 69% since August, with CEO Scott Kirby pointing to stronger revenue trends and disciplined capital returns.