# United Airlines Q3 Revenue Hits $17.9B Record

> United Airlines posts record $17.9B Q3 revenue as fuel costs surge, recapturing 72% of $1.8B increase.
- Title: United Airlines Q3 Revenue Hits $17.9B Record · BigGo Finance
- Summary: United Airlines posts record $17.9B Q3 revenue as fuel costs surge, recapturing 72% of $1.8B increase. United Airlines reported $17.9 billion Q3 revenue, a…
- Keywords: united airlines, q3 2026, revenue, fuel costs, earnings call, trasm, yields, pretax margin, eps, casm ex, starlink wifi, mileageplus
- Source: BigGo Finance — https://finance.biggo.com/news/US_UAL_2026-10-21
- Author: BigGo Finance
- Published: 2026-10-21T16:54:15+00:00
- Read time: 2 min
- Topics: united airlines, q3 2026, revenue, fuel costs, earnings call, trasm, yields, pretax margin, eps, casm ex, starlink wifi, mileageplus
## United Airlines Q3 Revenue
United Airlines reported third-quarter 2026 revenue of $17.9 billion, a 17.4% year-over-year increase and a record for the period.
## Fuel Expense Surge
Despite a $1.8 billion year-over-year increase in fuel expense, United delivered earnings per share of $2.54 and a pretax margin of 6.2%.
## Fuel Cost Recapture
United recaptured 72% of the $1.8 billion fuel increase in the quarter, suggesting room for further yield improvement.
## TRASM and Yields Growth
United saw a 15.9% rise in TRASM and a 17% jump in yields, driving the revenue increase.
## Q4 EPS Guidance
United guided fourth-quarter EPS to $0.50-$1.50, assuming an all-in fuel price of approximately $4.80 per gallon.
## CASM ex Projection
CASM ex is expected to decelerate from Q3's 7.8% growth, with a material step-down in 2027.
## 2027 CASM ex Target
Management targets 2-3% CASM ex growth for 2027 and aims to recapture 100% of fuel costs over time.
## Starlink Wi-Fi Deployment
United is rapidly deploying Starlink Wi-Fi, with about half of departures on equipped aircraft and plans to reach 61% by year-end 2026.
## Loyalty Program Growth
United expects to add 1 million new co-brand accounts in 2026 and loyalty revenue increased 17%.
## Premium Cabin Revenue
Premium cabin revenue rose 17% on a 2.5% capacity increase, with premium PRASM up 14.1%.
## Non-Premium Revenue
Non-premium revenue climbed 18.4% on a 0.5-point capacity increase, with RASM up 17.8%.
## Business Revenue Surge
Business revenue surged 22% with yields up 15%, while leisure revenue grew 16% with stronger yield gains.
## Cargo Revenue Jump
Cargo revenue jumped 23%, driven by yields, and loyalty revenue increased 17%.
## Q4 Capacity Outlook
United aims to make Q3 earnings at par with other quarters, with progress on Q1 and Q4 desseasonalization.
## Key takeaway

United Airlines reported $17.9 billion Q3 revenue, a 17.4% year-over-year increase, and recaptured 72% of a $1.8 billion fuel cost increase.