Shares of United Airlines (NASDAQ: UAL) climbed more than 3% intra-day on Wednesday after the carrier reported fourth-quarter profit and revenue that exceeded Wall Street expectations, supported by strong demand from premium travelers.

United posted diluted earnings per share of $3.19 for the quarter ended December, beating the consensus estimate of $2.96. Revenue rose to $15.4 billion, modestly above the $15.39 billion analysts had forecast.

The airline guided for adjusted earnings per share of $12 to $14 in 2026, as it plans to take delivery of more than 120 aircraft and further expand its route network.

A record 181 million passengers flew with United in 2025. Premium revenue increased 9% in the fourth quarter, while loyalty revenue rose 10%. Capacity expanded 6.5% during the quarter, though total revenue per available seat mile declined 1.6% year over year.

United said a prolonged U.S. government shutdown that ended in November reduced pre-tax earnings by approximately $250 million during the quarter.

For full-year 2025, diluted earnings per share rose 8% to $10.20, or $10.62 on an adjusted basis. United said it expected to be the only major U.S. airline to grow adjusted earnings per share in 2025.