Airline company United Airlines Holdings (NASDAQ: UAL) will be announcing earnings results this Wednesday after market close. Here’s what to expect.

United Airlines missed analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $15.24 billion, up 1.7% year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA estimates and a slight miss of analysts’ revenue estimates. It reported 70.09 billion revenue passenger miles, up 4.5% year on year.

Is United Airlines a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting United Airlines’s revenue to grow 3% year on year to $15.3 billion, in line with the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.68 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. United Airlines has missed Wall Street’s revenue estimates twice over the last two years.

Looking at United Airlines’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Delta delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 3.8%, and Carnival reported revenues up 3.3%, topping estimates by 0.5%. Delta’s stock price was unchanged after the resultswhile Carnival was down 5.6%.

Read our full analysis of Delta’s results here and Carnival’s results here.

Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 6.9% on average over the last month. United Airlines is down 5.4% during the same time and is heading into earnings with an average analyst price target of $116.35 (compared to the current share price of $98.90).

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