United Airlines Holdings, Inc. (UAL) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 14.61B | 15.4B | 15.22B | 15.24B | 13.21B | 14.7B | 14.84B | 14.99B | 12.54B | 13.63B | 14.48B | 14.18B | 11.43B | 12.4B | 12.88B | 12.11B | 7.57B | 8.19B | 7.75B | 5.47B |
| Revenue Growth % | 10.57% | 4.78% | 2.57% | 1.67% | 5.37% | 7.85% | 2.48% | 5.7% | 9.71% | 9.89% | 12.48% | 17.06% | 51.06% | 51.37% | 66.15% | 121.39% | 134.9% | 140.09% | 211.37% | 270.92% |
| Cost of Goods Sold | 5.37B | 5.52B | 5.39B | 5.34B | 4.94B | 10.18B | 10.4B | 10.18B | 9.8B | 9.94B | 10.04B | 9.3B | 9.24B | 8.83B | 9.13B | 9.09B | 7.27B | 6.9B | 6.4B | 5.59B |
| COGS % of Revenue | 36.73% | 35.86% | 35.39% | 35.08% | 37.37% | 69.3% | 70.1% | 67.96% | 78.15% | 72.93% | 69.33% | 65.58% | 80.86% | 71.19% | 70.88% | 75.02% | 96.13% | 84.28% | 82.53% | 102.23% |
| Gross Profit | 9.24B | 9.88B | 9.84B | 9.89B | 8.28B | 4.51B | 4.44B | 4.8B | 2.74B | 3.69B | 4.44B | 4.88B | 2.19B | 3.57B | 3.75B | 3.02B | 293M | 1.29B | 1.35B | -122M |
| Gross Margin % | 63.27% | 64.14% | 64.61% | 64.92% | 62.63% | 30.7% | 29.9% | 32.04% | 21.85% | 27.07% | 30.67% | 34.42% | 19.14% | 28.81% | 29.12% | 24.98% | 3.87% | 15.72% | 17.47% | -2.23% |
| Gross Profit Growth % | 11.7% | 118.86% | 121.65% | 105.98% | 202.01% | 22.31% | -0.09% | -1.6% | 25.23% | 3.28% | 18.45% | 61.32% | 646.76% | 177.33% | 176.96% | 2579.51% | 120.9% | 193.47% | 168.94% | 95.17% |
| Operating Expenses | 8.25B | 8.49B | 8.44B | 8.57B | 7.67B | 3.01B | 2.87B | 2.87B | 2.64B | 2.69B | 2.7B | 3.36B | 2.23B | 2.2B | 2.29B | 2.15B | 1.68B | 1.7B | 317M | 148M |
| OpEx % of Revenue | 56.45% | 55.13% | 55.45% | 56.22% | 58.04% | 20.48% | 19.36% | 19.17% | 21.06% | 19.76% | 18.66% | 23.72% | 19.52% | 17.72% | 17.79% | 17.73% | 22.16% | 20.7% | 4.09% | 2.71% |
| Selling, General & Admin | 7.88B | 571M | 555M | 487M | 496M | 551M | 574M | 626M | 480M | 571M | 516M | 487M | 403M | 434M | 482M | 393M | 226M | 235M | 218M | 139M |
| SG&A % of Revenue | 53.94% | 3.71% | 3.65% | 3.2% | 3.75% | 3.75% | 3.87% | 4.18% | 3.83% | 4.19% | 3.56% | 3.43% | 3.53% | 3.5% | 3.74% | 3.24% | 2.99% | 2.87% | 2.81% | 2.54% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 997M | 1.39B | 1.4B | 1.32B | 607M | 1.5B | 1.56B | 1.93B | 99M | 997M | 1.74B | 1.52B | -43M | 1.38B | 1.46B | 878M | -1.38B | -408M | 1.04B | -270M |
| Operating Margin % | 6.83% | 9% | 9.16% | 8.7% | 4.59% | 10.22% | 10.54% | 12.87% | 0.79% | 7.32% | 12.01% | 10.7% | -0.38% | 11.09% | 11.32% | 7.25% | -18.29% | -4.98% | 13.38% | -4.94% |
| Operating Income Growth % | 64.25% | -7.72% | -10.86% | -31.31% | 513.13% | 50.65% | -10.01% | 27.16% | 330.23% | -27.49% | 19.27% | 72.78% | 96.89% | 437.01% | 40.6% | 425.19% | -0.22% | 80.89% | 164.21% | 83.51% |
| EBITDA | 1.75B | 2.13B | 2.13B | 2.06B | 1.33B | 2.25B | 2.31B | 2.65B | 807M | 1.68B | 2.4B | 2.19B | 612M | 1.83B | 2.07B | 1.49B | -773M | 211M | 1.66B | 350M |
| EBITDA Margin % | 12% | 13.86% | 13.96% | 13.51% | 10.1% | 15.32% | 15.54% | 17.67% | 6.44% | 12.34% | 16.58% | 15.42% | 5.35% | 14.78% | 16.06% | 12.29% | -10.22% | 2.58% | 21.42% | 6.4% |
| EBITDA Growth % | 31.41% | -5.24% | -7.89% | -22.28% | 65.3% | 33.97% | -3.96% | 21.13% | 31.86% | -8.29% | 16.15% | 46.81% | 179.17% | 768.72% | 24.58% | 325.43% | -1.98% | 112.57% | 267.85% | 134.35% |
| D&A (Non-Cash Add-back) | 756M | 748M | 730M | 733M | 727M | 750M | 742M | 719M | 708M | 684M | 663M | 669M | 655M | 458M | 610M | 611M | 611M | 619M | 623M | 620M |
| EBIT | 986M | 1.65B | 1.53B | 1.56B | 122M | 1.62B | 1.61B | 2.11B | 229M | 1.2B | 1.93B | 1.84B | 192M | 1.57B | 1.58B | 857M | -1.35B | -439M | 1.03B | -160M |
| Net Interest Income | -138M | -187M | -136M | -143M | -144M | -144M | -139M | -177M | -216M | -223M | -211M | -235M | -278M | -291M | -324M | -365M | -395M | -400M | -420M | -392M |
| Interest Income | 135M | 137M | 142M | 167M | 164M | 172M | 187M | 190M | 177M | 207M | 234M | 216M | 170M | 156M | 104M | 33M | 5M | 6M | 11M | 12M |
| Interest Expense | 273M | 324M | 278M | 310M | 308M | 316M | 326M | 367M | 393M | 430M | 445M | 451M | 448M | 447M | 428M | 398M | 400M | 406M | 431M | 404M |
| Other Income/Expense | -127M | -61M | -140M | -77M | -129M | -196M | -279M | -190M | -263M | -227M | -254M | -130M | -213M | -245M | -305M | -419M | -368M | -437M | -434M | -294M |
| Pretax Income | 870M | 1.32B | 1.25B | 1.25B | 478M | 1.31B | 1.29B | 1.74B | -164M | 771M | 1.49B | 1.39B | -256M | 1.13B | 1.15B | 459M | -1.75B | -845M | 603M | -564M |
| Pretax Margin % | 5.96% | 8.61% | 8.24% | 8.19% | 3.62% | 8.89% | 8.66% | 11.6% | -1.31% | 5.66% | 10.25% | 9.78% | -2.24% | 9.11% | 8.95% | 3.79% | -23.16% | -10.31% | 7.78% | -10.31% |
| Income Tax | 172M | 281M | 306M | 275M | 91M | 322M | 321M | 416M | -40M | 172M | 348M | 312M | -62M | 287M | 211M | 130M | -375M | -199M | 130M | -130M |
| Effective Tax Rate % | 19.77% | 21.21% | 24.38% | 22.04% | 19.04% | 24.66% | 24.96% | 23.92% | 24.39% | 22.31% | 23.43% | 22.49% | 24.22% | 25.4% | 18.3% | 28.32% | 21.4% | 23.55% | 21.56% | 23.05% |
| Net Income | 699M | 1.04B | 949M | 973M | 387M | 984M | 965M | 1.32B | -124M | 599M | 1.14B | 1.07B | -194M | 843M | 942M | 329M | -1.38B | -646M | 473M | -434M |
| Net Margin % | 4.78% | 6.78% | 6.23% | 6.39% | 2.93% | 6.7% | 6.5% | 8.83% | -0.99% | 4.4% | 7.85% | 7.58% | -1.7% | 6.8% | 7.32% | 2.72% | -18.2% | -7.89% | 6.1% | -7.93% |
| Net Income Growth % | 80.62% | 6.1% | -1.66% | -26.46% | 412.1% | 64.27% | -15.13% | 23.07% | 36.08% | -28.94% | 20.7% | 226.75% | 85.91% | 230.5% | 99.15% | 175.81% | -1.47% | 65.95% | 125.69% | 73.33% |
| Net Income (Continuing) | 698M | 1.04B | 949M | 973M | 387M | 984M | 965M | 1.32B | -124M | 599M | 1.14B | 1.07B | -194M | 843M | 942M | 329M | -1.38B | -646M | 473M | -434M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.14 | 3.19 | 2.90 | 2.97 | 1.16 | 2.94 | 2.90 | 3.96 | -0.38 | 1.81 | 3.42 | 3.24 | -0.59 | 2.55 | 2.86 | 1.00 | -4.24 | -1.99 | 1.44 | -1.34 |
| EPS Growth % | 84.48% | 8.5% | 0% | -25% | 405.26% | 62.43% | -15.2% | 22.22% | 35.59% | -29.02% | 19.58% | 224% | 86.08% | 228.14% | 98.61% | 174.63% | 1.17% | 67.27% | 122.75% | 76.86% |
| EPS (Basic) | 2.14 | 3.19 | 2.93 | 3.00 | 1.18 | 3.00 | 2.93 | 4.02 | -0.38 | 1.83 | 3.47 | 3.28 | -0.59 | 2.58 | 2.88 | 1.01 | -4.24 | -1.99 | 1.46 | -1.34 |
| Diluted Shares Outstanding | 326.8M | 327M | 326.9M | 327.2M | 333M | 334.5M | 332.7M | 333.9M | 328.3M | 331.3M | 332.4M | 331.5M | 327.4M | 330.4M | 329.5M | 330.3M | 325M | 323.8M | 329M | 323.6M |
| Basic Shares Outstanding | 326.8M | 327M | 326.9M | 327.2M | 333M | 327.9M | 329M | 328.8M | 328.3M | 328.02M | 328M | 331.5M | 327.4M | 326.93M | 329.37M | 329M | 325M | 323.8M | 328.47M | 323.6M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |