United Airlines stock (NASDAQNDAQ: UAL) recently reported its Q4 results, with revenues and earnings above the street estimates. The company reported revenue of $13.6 billion, reflecting a 9.9% y-o-y growth and above the $13.5 billion street estimate. Its adjusted earnings of $2.00 per share were down 19% y-o-y but above the consensus estimate of $1.69 per share. In this note, we discuss United Airlines’ stock performance, key takeaways from its recent results, and valuation.
UAL stock has faced a slight decline of 4% from levels of $45 in early January 2021 to around $43 now, vs. an increase of about 30% for the S&P 500 over this roughly three-year period. Overall, the…


















