United Airlines: Q2 Points To More Upside

United Airlines Holdings, Inc. demonstrates resilience amid rising fuel costs, with Q2 revenues surging 16% to a record $17.7 billion. The airline expects to recapture 80–90% of fuel cost increases by Q3 and fully recover by Q4, supporting robust future profitability. Management targets 2026 EPS of $9–$11 and aims for mid-teen pretax margins in the future, implying significant upside if operational goals are met. UAL stock trades at only ~4x long-term pretax profit goals, presenting an attractive valuation if margin expansion materializes.