United Airlines Q1 Earnings Preview: Analyst Estimates, Safety Concerns, Underperformance To Delta â€” Key Items To Watch

United Airlines Q1 Earnings Preview: Analyst Estimates, Safety Concerns, Underperformance To Delta — Key Items To Watch

Chris Katje

April 15, 2024

Leading airline company United Airlines Holdings Inc (NASDAQ:UAL) will report first-quarter financial results after market close Tuesday, April 16.

Here's a look at the earnings estimates and key items to watch.

Earnings Estimates: Analysts expect United Airlines to report first-quarter revenue of $12.45 billion, according to data from Benzinga Pro.

The company reported revenue of $11.429 billion in last year's first quarter. United Airlines has beaten Street estimates for revenue in six straight quarters.

Analysts expect the airline company to report a loss of 56 cents per share for the first quarter, compared to a loss of 63 cents per share in the year-ago period. The company has beaten earnings per share estimates from analysts in six straight quarters.

Related Link: United Airlines Pilots Urged To Take Unpaid Leave Amid Boeing Woes: Report

Key Items to Watch: The earnings report comes shortly after rival Delta Air Lines (NYSE:DAL) reported earnings per share and revenue, which both surpassed Street estimates. Delta saw several analyst price target increases after its recent quarterly earnings report.

Here are the most recent analyst ratings and price targets for United Airlines:

Susquehanna: Positive rating, lowered price target from $60 to $55

UBS: Initiated Neutral rating, $47 price target

The earnings report from United Airlines also comes as the airline sector has been faced with setbacks and concerns over airplanes made by Boeing Co (NYSE:BA).

United recently announced that it was postponing its investor day planned for May 1, due to safety concerns, with a rescheduled date expected for the fall. Investors could be watching the earnings report to see if a new date is announced.

The U.S. Global JETS ETF (NYSE:JETS), which tracks the airline sector, is up 6.7% over the past year. United Airlines makes up the second largest position of the ETF at 10.5%. United Airlines stock is up 3.2% over the past year.

Rival Delta Air Lines, which is the largest holding in the ETF, has been outperforming the sector with the stock up 38% over the past year.

A strong earnings report from United could lead to a potential gain in value to even out with the sector or get closer to the performance of peer Delta.

UAL Price Action: United Airlines stock closed down Monday 1.82% at $41.04 versus the 52-week trading range of $33.68 to $58.23.

Read Next: Delta Air Lines Stock Soars Over 50% In Under 6 Months – Can It Fly Higher?

Photo: Shutterstock

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