Why United Airlines (UAL) Stock Is Falling

United Airlines Holdings Inc UAL shares are trading lower by 8.5% to $40.71 during Friday’s session. Shares of airline stocks are trading lower in sympathy with Delta, which dropped after reporting fourth-quarter results and issuing 2024 guidance.

What Happened?

In the fourth quarter of FY23, Delta reported a 5.9% year-over-year growth in operating revenue to $14.22 billion and an 11.1% year-over-year increase in adjusted operating revenue to $13.66 billion, surpassing the consensus of $13.52 billion.

The adjusted EPS of $1.28 meanwhile exceeded the consensus of $1.17. Total passenger revenue showed a 12% YoY increase, reaching $12.17 billion, while cargo revenue decreased by 24% YoY to $188 million…Read More

According to data from Benzinga Pro, UAL has a 52-week high of $58.23 and a 52-week low of $33.68.