United Airlines lowers 2026 profit outlook as fuel costs rise, while bookings hold up

United Airlines lowered its 2026 profit outlook as fuel costs increased, while passenger bookings continued despite higher ticket prices.

The carrier reported $17.9 billion in third-quarter operating revenue, an increase of 17.4% from the same period a year earlier. Adjusted diluted earnings reached $2.54 per share.

Fuel remained a major pressure on the business. United’s third-quarter fuel expense rose by $1.8 billion from a year earlier. The company also said its expected 2026 fuel expense had increased by nearly $6 billion compared with its initial expectation for the year.

United carried 49.5 million revenue customers during the quarter. Economy unit revenue rose 17% year over year, while revenue per available seat mile increased 15.9%.

For the fourth quarter, United forecast adjusted diluted earnings of $0.50 to $1.50 per share. Its outlook uses an average fuel price of about $4.80 per gallon, and the company expects unit revenue growth to accelerate from the third quarter.

United had raised its full-year 2026 adjusted diluted earnings guidance to $9.00-$11.00 per share in July before lowering its profit outlook as fuel costs rose. The company reported first-quarter adjusted diluted earnings of $1.19 per share.

United’s third-quarter performance and fourth-quarter forecast point to continued revenue growth alongside higher operating costs. The company expects stronger unit revenue growth in the fourth quarter, while fuel prices remain central to its earnings outlook.