United Airlines

The following is a summary of the United Airlines Holdings, Inc. (UAL) Q4 2023 Earnings Call Transcript: Financial Performance: United Airlines’ q4 total revenue increased by 9.9% due to a 14.7% increase in capacity. Pretax income of $4.3 billion in 2023, an improvement of over $3.2 billion compared to 2022. Earnings per share for the year were reported at $10.05, within the initial guidance range and ahead of consensus expectations. The fourth quarter of the fiscal year saw a pretax income of $845 million and earnings per share of $2, which was above the guided range. The reported CASM-ex (cost-per-available-seat-mile) for the fourth quarter increased by 4.9%. The company maintained their net debt to EBITDAR ratio within its target of less than 3 times. However, United Airlines anticipates a loss per share between $0.35 and $0.85 for the first quarter of 2024. Business Progress: Strides made in both domestic and […]

United Airlines Holdings Inc (NASDAQ:UAL), will be reporting its fourth-quarter earnings on Monday, Jan. 22. Wall Street is expecting the company to report $1.70 in EPS and $13.53 billion in revenues, as it reports after market hours. The company is a major airline known for its extensive domestic and international flight network. As one of the largest airlines globally, United is recognized for its widespread route coverage, modern fleet, and its frequent flyer program called MileagePlus. United Airlines’ stock is down over 19% over the past year. Business & Fundamentals: United Airlines stands out for its strategic resilience and adaptability in the challenging airline industry. While the low-cost sector faces headwinds, United’s unique approach during the pandemic could potentially position it for future growth. Unlike competitors who retired aircraft, United maintained its fleet and staff, anticipating a swift demand rebound. This strategy paid off in 2022 when international demand surged, boosting the

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $47, up $6, is 5.1x our 2024 EPS estimate (remains at $9.13; 2023 remains at $9.87), below UAL’s 2018-2019 historical forward average of 8.4x. We believe a discount is merited due to the recent events regarding the Boeing 737 Max-9 aircraft, as the Federal Aviation Administration (FAA) grounded 171 737 Max-9 planes due to increased quality control concerns that arose after a panel blew off an Alaska Air Group (ALK 37 ***) operated flight last Friday. The 737 Max-9 series aircraft currently accounts for roughly, by our estimation, 6% of UAL’s current fleet. In addition, UAL currently has almost 50% of its expected aircraft order book tied to the 737 Max series; however, we believe that the lion’s share of its 737 Max

United Airline Holdings (NASDAQ:UAL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 28.65% B of A Securities $40 → $56 Upgrades Underperform → Buy 12/20/2023 49.32% Raymond James $68 → $65 Maintains Outperform 10/19/2023 125.13% JP Morgan $93 → $98 Maintains Overweight 10/19/2023 56.21% Raymond James $70 → $68 Maintains Outperform 10/19/2023 -8.11% Susquehanna $44 → $40 Maintains Neutral 10/19/2023 63.11% Citigroup $76 → $71 Maintains Buy 10/11/2023 1.08% Susquehanna $57 → $44 Maintains Neutral 10/05/2023 60.81% Raymond James $76 → $70 Maintains Outperform 10/02/2023 72.29% Morgan Stanley $80 → $75 Maintains Overweight 09/29/2023 10.27% Jefferies $65 → $48 Maintains Hold 09/26/2023 56.21% Bernstein $71 → $68 Maintains Outperform 08/28/2023 33.24% Evercore ISI Group $65 → $58 Maintains In-Line 08/07/2023 83.78% Redburn Partners → $80 Upgrades Neutral → Buy 07/24/2023 92.97% Citigroup $75 → $84 Maintains Buy 07/23/2023 49.32% Jefferies →

Raymond James analyst Savanthi Syth maintains United Airlines Holdings (NASDAQ:UAL) with a Outperform and lowers the price target from $68 to $65.

United Airline Holdings (NASDAQ:UAL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/20/2023 54.06% Raymond James $68 → $65 Maintains Outperform 10/19/2023 132.28% JP Morgan $93 → $98 Maintains Overweight 10/19/2023 61.18% Raymond James $70 → $68 Maintains Outperform 10/19/2023 -5.19% Susquehanna $44 → $40 Maintains Neutral 10/19/2023 68.29% Citigroup $76 → $71 Maintains Buy 10/11/2023 4.29% Susquehanna $57 → $44 Maintains Neutral 10/05/2023 65.92% Raymond James $76 → $70 Maintains Outperform 10/02/2023 77.77% Morgan Stanley $80 → $75 Maintains Overweight 09/29/2023 13.77% Jefferies $65 → $48 Maintains Hold 09/26/2023 61.18% Bernstein $71 → $68 Maintains Outperform 08/28/2023 37.47% Evercore ISI Group $65 → $58 Maintains In-Line 08/07/2023 89.62% Redburn Partners → $80 Upgrades Neutral → Buy 07/24/2023 99.1% Citigroup $75 → $84 Maintains Buy 07/23/2023 54.06% Jefferies → $65 Maintains Hold 07/21/2023 65.92% TD Cowen $65 → $70 Maintains Outperform 07/21/2023

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $41, down $19, is 4.5x our ’24 EPS estimate (cut to $9.13 from $11.38; ’23 to $9.87 from $11.30), below its peer forward average of 4.9x, which we believe is merited due to its above-peer average floating-rate debt ($11B vs. peer average of ~$3B) and lofty capex needs (~$9B vs. peer average of $4B in ’24). Q3 EPS of $3.65 vs. $2.81 beat consensus by $0.24. Q3 revenues grew ~13 Y/Y. The stock fell ~10% today, which we think is due to rising unit costs (labor and fuel) and the impact of the recent Israeli conflict (2% of total capacity per UAL). In Q3, UAL finalized a labor contract with its pilots (valued at $10B, lifting pay by as much as 40% over

JPMorgan analyst Jamie Baker maintains United Airlines Holdings (NASDAQ:UAL) with a Overweight and raises the price target from $93 to $98.

Citigroup analyst Stephen Trent maintains United Airlines Holdings (NASDAQ:UAL) with a Buy and lowers the price target from $76 to $71.

United Airlines expects to end FY2024 with a similar level of capacity as seen in FY2023, even though it won’t be a year of capacity growth across the Atlantic, chief commercial officer Andrew Nocella says in a call with analysts. The airline anticipates little to no growth on domestic flying for the 1H, but it does predict a faster-than-expected shake-up in the domestic market, which will lead to an improvement in margins over the medium-to-long-term, CEO Scott Kirby says.

United Airlines plans to significantly boost its first class seats offering in the upcoming years as customers think differently about paying higher prices to travel in the midst of an inventory-led environment. The airline seeks to increase its first class seats per departure from 9 in 2019 to 16 by 2027, representing an 80% chief commercial officer Andrew Nocella says in a call with analysts. Six years ago, United Airlines didn’t offer premium products that many of its best customers were willing to pay for, but the company is now making quick progress in correcting this disconnect in its commercial plans, Nocella adds.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $41, down $19, is 4.5x our ’24 EPS estimate (cut to $9.13 from $11.38; ’23 to $9.87 from $11.30), below its peer forward average of 4.9x, which we believe is merited due to its above-peer average floating-rate debt ($11B vs. peer average of ~$3B) and lofty capex needs (~$9B vs. peer average of $4B in ’24). Q2 EPS of $3.65 vs. $2.81 beat consensus by $0.24. Q2 revenues grew ~13 Y/Y. The stock fell ~10% today, which we think is due to rising unit costs (labor and fuel) and the impact of the recent Israeli conflict (2% of total capacity per UAL). In Q3, UAL finalized a labor contract with its pilots (valued at $10B, lifting pay by as much as 40% over