Wheels Up Experience Inc. (UP) Earnings
Wheels Up Experience Inc. is expected to report next earnings on August 6, 2026 (in NaN days). UP has beaten EPS estimates in 6 of its last 7 reported quarters (average surprise +90.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | — | $-2.29 | — | $169M | — |
| Feb 19, 2026 | — | $-0.02 | — | $184M | -61.1% |
| Nov 5, 2025 | — | $-0.10 | — | $185M | -62.8% |
| Aug 7, 2025 | — | $-0.10 | — | $190M | -59.7% |
| May 1, 2025 | — | $-0.10 | — | $178M | -61.5% |
| Mar 11, 2025 | $-2.20 | $-0.07 | +96.8% | $205M | -50.7% |
| Nov 7, 2024 | $-2.20 | $-0.07 | +96.8% | $194M | -55.5% |
| May 9, 2024 | $-0.47 | $-0.12 | +74.5% | $197M | -20.0% |
| Mar 7, 2024 | $-2.60 | $-0.12 | +95.4% | $246M | -36.8% |
| Nov 9, 2023 | $-2.30 | $-1.93 | +16.1% | $320M | -18.0% |
| Aug 14, 2023 | $-2.90 | $-2.43 | +16.2% | $335M | -5.0% |
| Mar 9, 2023 | $-2.90 | $-8.00 | -175.9% | $408M | +18.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2024 · November 9, 2024
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- George Mattson outlined the vision to combine private and premium commercial aviation, and mentioned the company's progress in stabilizing financials after previous sequential revenue declines. - Adjusted EBITDA loss was reduced by nearly 50% sequentially to $20 million. - Fleet modernization strategy announced, including transitioning to Embraer Phenom 300 series and Bombardier Challenger 300 series aircraft, with a plan to complete transition in ~3 years. - Highlighted strong traction in Delta corporate sales, with joint Delta accounts having the highest mix of block sales in September. - Added key hires: Chief Legal Officer, EVP of Enterprise Planning and Strategy, and SVP of Customer Experience. - Eric Cabezas discussed third quarter results, fleet modernization's positive impact, Bank of America transaction, and improved cash burn with operating cash flow improving sequentially and year-over-year.
Guidance
- Anticipates fourth quarter adjusted EBITDA will show strong sequential improvement over the third quarter, though will absorb costs from fleet modernization strategy. - Expects full year 2025 to generate positive adjusted EBITDA. - Believes recent fleet announcements will drive strong customer interest and continued commercial momentum in Q4 and 2025. - Fleet modernization is expected to drive step-change improvement in operational performance, efficiency, and profitability margins per aircraft.
Segment performance
Revenue for the third quarter was $194 million, roughly flat sequentially. Adjusted contribution margin was almost 15% in the third quarter, nearly double the second quarter's figure and the highest since going public in 2021. Prepaid blocks were $147 million for the quarter, up 86%, nearly double the level a year ago. Corporate block sales were up over 50% year-over-year. Private jet gross bookings were down 20% year-over-year but only 6% sequentially, while total gross bookings were down 16% year-over-year but only 4% sequentially in Q3.