04:44 PM EDT, 10/15/2025 (MT Newswires) -- United Airlines' (UAL) third-quarter earnings beat expectations, while the air carrier missed revenue estimates even as air travel demand improved.

Adjusted earnings dropped to $2.78 a share for the September quarter from $3.33 the year before. Analysts polled by FactSet expected EPS of $2.65. Operating revenue increased 2.6% year over year to $15.23 billion, shy of the Street's view for $15.33 billion.

Passenger revenue rose 1.9% to $13.82 billion, driven by a 3.1% gain in domestic sales. Total revenue per available seat mile, which is used to compare the efficiency of various airlines, fell 4.3%.

UBS Securities said in a note late last month that it expected US airlines' third-quarter results to show improving revenue trends, which the brokerage said would help offset modest expense pressure for most players in the industry. United Airlines had the most upside heading into third-quarter results, UBS analysts Thomas Wadewitz and Atul Maheswari wrote in the note.

For the ongoing three-month period, the airline anticipates adjusted EPS of $3 and $3.50. The average analyst estimate on FactSet is for $2.87.

United Airlines expects a strong fourth quarter as "the demand environment strengthens with an expected meaningful improvement in unit revenue year-over-year," compared to the third quarter, the carrier said in a statement.