.Friday, July 18, 2024 08:30 AM

United Airlines (NASDAQ:UAL) reported disappointing Q2 results, with revenue of $14.99 billion and adjusted EPS of $4.14 missing analyst forecasts of $15.11 billion and $3.98 respectively. The airline cited weakening demand for air travel as the reason for falling short of Wall Street expectations.

Despite the revenue dip, United Airlines saw a 4.8% decrease in cost per available seat mile (CASM) in Q2 compared to the same period last year, indicating operational efficiencies. This comes at a challenging time for the airline sector, with various U.S. airlines highlighting the upcoming summer and mid-August as crucial periods.

Looking ahead, United Airlines provided Q3 guidance, forecasting adjusted EPS between $2.75 and $3.25, below the Street estimate of $3.59. For the full year, the airline anticipates adjusted EPS to be in the range of $9.00 to $11.00.