United Airlines Q1 diluted EPS rises 85% to $2.14 on 10.6% revenue growth; cuts capacity
United Airlines reported first-quarter 2026 diluted earnings per share of $2.14, up 85% year over year, and total operating revenue of $14.6 billion, up 10.6%. Fuel expense rose $340 million, and the company plans to cut its planned capacity by 5 points for the rest of 2026, with third- and fourth-quarter capacity now expected to be flat to up approximately 2% year over year. Shareholders get higher reported profit, but the capacity cut and elevated fuel prices are near-term pressures on the business.
Key points
- Diluted EPS of $2.14, up 85%; adjusted diluted EPS of $1.19, up 31%, within initial guidance of $1.00 to $1.50
- Total operating revenue of $14.6 billion, up 10.6%; net income of $0.7 billion
- Aircraft fuel expense up $340 million; average fuel price of $2.78 per gallon, up 9.9%
- Expects Q3 and Q4 2026 capacity flat to up approximately 2% year over year, after a 5-point cut versus the original plan
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 21, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.