United Airlines raised its full-year earnings forecast after beating second-quarter revenue and profit estimates, though the carrier cautioned that soaring jet fuel prices could add nearly $6 billion to its 2026 expenses.
The airline posted adjusted earnings of $1.99 per share on revenue of $17.67 billion, both exceeding analyst projections, while raising its full-year adjusted earnings guidance to between $9 and $11 per share. However, its third-quarter forecast of $2.50 to $3.50 per share fell short of expectations. Net income declined 17% to $805 million as fuel costs surged 84% from a year earlier.
Jet fuel prices hit a record near $5 per gallon in April before easing to $3.64 by mid-July. United and rival Delta Air Lines have raised airfares to offset the additional costs. United expanded flying capacity 3.5% in the quarter while total unit revenue climbed 12.1%.