United Airlines (UAL) Releases Q1 2026 Earnings: Revenue Growth and Strong EPS Beat

United Airlines Holdings (UAL) Q1 2026 results:

Total revenue of $14.6 billion (up 10.57% year‑over‑year).

Gross profit of $4.4 billion (up 9.31% year‑over‑year).

Operating profit of $997 million (up 64.25% year‑over‑year).

Net income attributable to common shareholders of $699 million (up 80.62% year‑over‑year).

Diluted earnings per share of $2.14 (up 84.48% year‑over‑year).

Balance sheet and cash flow highlights:

Cash from operating activities of $4.8 billion (up 29.35% year‑over‑year).

Purchases of property, plant and equipment (capital spending) of $1.67 billion (up 35.6% year‑over‑year).

Cash and cash equivalents of $7.87 billion (down 16.02% year‑over‑year).

Cost of sales of $10.2 billion (up 11.12% year‑over‑year).

Total liabilities of $65.1 billion (up 2.47% year‑over‑year).

Performance versus street estimates:

Diluted EPS of $2.14 beat the estimate of $1.11.

Revenue of $14.6 billion slightly topped the estimate of $14.5 billion.

Overall, United Airlines (UAL) delivered solid top‑line growth and materially stronger profitability in the quarter, with operating profit and net income rising at double‑digit rates and a pronounced EPS beat, supported by healthier cash generation despite a year‑over‑year decline in cash reserves.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

United Airlines Holdings Inc. Insider Trading Activity

United Airlines Holdings Inc. insiders have traded $UAL stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $UAL stock by insiders over the last 6 months:

J SCOTT KIRBY (Chief Executive Officer) sold 120,000 shares for an estimated $12,943,800
BRETT J HART (President) sold 19,000 shares for an estimated $2,022,568

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

EARLY ACCESS

Receive UAL Data Alerts

Real-time alerts on filings, insider trades, and market signals — before everyone else.

Get Alerts →

United Airlines Holdings Inc. Hedge Fund Activity

We have seen 528 institutional investors add shares of United Airlines Holdings Inc. stock to their portfolio, and 380 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL INTERNATIONAL INVESTORS removed 3,815,497 shares (-17.3%) from their portfolio in Q4 2025, for an estimated $426,648,874
BALYASNY ASSET MANAGEMENT L.P. removed 2,641,208 shares (-99.8%) from their portfolio in Q4 2025, for an estimated $295,339,878
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 2,048,224 shares (-72.5%) from their portfolio in Q4 2025, for an estimated $229,032,407
PRIMECAP MANAGEMENT CO/CA/ removed 2,024,470 shares (-11.2%) from their portfolio in Q4 2025, for an estimated $226,376,235
FMR LLC added 1,857,987 shares (+12.8%) to their portfolio in Q4 2025, for an estimated $207,760,106
HOLOCENE ADVISORS, LP removed 1,491,352 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $166,762,980
TWO SIGMA INVESTMENTS, LP added 1,305,748 shares (+3647.3%) to their portfolio in Q4 2025, for an estimated $146,008,741

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

United Airlines Holdings Inc. Government Contracts

We have seen $8,091,026 of award payments to $UAL over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

CIVIL RESERVE AIR FLEET - AIR TRANSPORTATION SERVICES: $4,030,679
CIVIL RESERVE AIR FLEET - AIR TRANSPORTATION SERVICES: $717,831
CIVIL RESERVE AIR FLEET - AIR TRANSPORTATION SERVICES: $278,000
TO PROVIDE HEAVYWEIGHT DELIVERY SERVICES FOR DOMESTIC & INTERNATIONAL SHIPMENTS: $151,077

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

United Airlines Holdings Inc. Congressional Stock Trading

Members of Congress have traded $UAL stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $UAL stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 1 purchase worth up to $15,000 on 12/19 and 1 sale worth up to $15,000 on 02/10.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

United Airlines Holdings Inc. Analyst Ratings

Wall Street analysts have issued reports on $UAL in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

TD Cowen issued a "Buy" rating on 01/22/2026
Barclays issued a "Overweight" rating on 01/12/2026
UBS issued a "Buy" rating on 01/06/2026
Wells Fargo issued a "Overweight" rating on 12/18/2025
BMO Capital issued a "Outperform" rating on 12/09/2025

To track analyst ratings and price targets for United Airlines Holdings Inc., check out Quiver Quantitative's $UAL forecast page.

United Airlines Holdings Inc. Price Targets

Multiple analysts have issued price targets for $UAL recently. We have seen 13 analysts offer price targets for $UAL in the last 6 months, with a median target of $130.0.

Here are some recent targets:

Atul Maheswari from UBS set a target price of $135.0 on 03/23/2026
John Godyn from Citigroup set a target price of $132.0 on 03/20/2026
Christian Wetherbee from Wells Fargo set a target price of $130.0 on 03/16/2026
Duane Pfennigwerth from Evercore ISI Group set a target price of $125.0 on 03/12/2026
Sheila Kahyaoglu from Jefferies set a target price of $125.0 on 03/12/2026
Tom Fitzgerald from TD Cowen set a target price of $128.0 on 03/09/2026
James Goodall from Rothschild & Co set a target price of $110.0 on 03/05/2026