United Airlines Holdings, Inc. (UAL) reported mixed third-quarter 2025 results with earnings beating estimates but revenues falling short. Adjusted EPS of $2.78 exceeded expectations but decreased 16.5% year over year. Operating revenues of $15.2 billion missed estimates but grew 2.6%. Passenger revenues increased to $13.8 billion. Cargo revenues grew 3.2% to $431 million.

UAL’s diverse revenue sources, including premium cabin, Basic Economy, cargo, and loyalty revenues, contributed to its third-quarter results. The company anticipates the fourth quarter of 2025 to have the highest total operating revenue for a single quarter in its history. Traffic grew 6.1%, capacity expanded 7.2%, and load factor declined to 83.3%.

For the fourth quarter of 2025, UAL expects adjusted EPS between $3.00 and $3.50, with a Zacks Consensus Estimate of $2.67. UAL carries a Zacks Rank #3 (Hold). Other transportation companies like Delta Air Lines and J.B. Hunt Transport Services also reported strong third-quarter performances. Delta’s earnings increased 14% year over year, while J.B. Hunt’s earnings improved 18.1%.

Read more at Nasdaq: United Airlines Q3 Earnings Surpass Estimates, Revenues Lag