United raises full-year EPS guidance to $9–$11 despite $6B fuel cost headwind

Filed July 15, 2026 · Period ending July 15, 2026 · ~2 min read

Key Changes

• high

  Full-year 2026 adjusted EPS guidance raised to $9.00–$11.00; Q3 guidance $2.50–$3.50. Company expects to exceed high end of both ranges if fuel prices return to early July levels.

  Exhibit 99.1 view on EDGAR →
• high

  Fuel costs up $6B for full year vs. initial expectations; Q2 fuel expense rose $2.3B (84% YoY). Company recovered ~50% of Q2 increase, expects 80–90% recovery in Q3 and 100% by Q4.

  Exhibit 99.1 view on EDGAR →
• high

  Q3 and Q4 2026 TRASM growth expected to exceed Q2's 12.1% YoY increase. Premium revenue +16%, cargo +23%, contracted business +27%, economy cabin unit revenue +12% in Q2.

  Exhibit 99.1 view on EDGAR →