Wheels Up Experience Inc (UP) Q3 2024 Earnings Call Highlights: Strategic Partnerships and ... [Yahoo! Finance]
Wheels Up Experience Inc. Class A (UP)
Company Research
Source: Yahoo! Finance
Wheels Up Experience Inc ( NYSE:UP ) reported a significant improvement in adjusted contribution margin, reaching nearly 15%, the highest since going public in 2021. The company reduced its adjusted EBITDA loss by nearly 50% sequentially to $20 million, showing progress towards achieving positive adjusted EBITDA in 2025. Prepaid block sales increased by 86% year over year, indicating strong customer commitment and improved service metrics. The strategic partnership with Delta Airlines continues to provide significant advantages, including credit support for new financing, enhancing access to capital. The fleet modernization strategy is expected to reduce operating complexity and costs, improve operational performance, and drive profit improvement over the next several years. Revenue was flat sequentially and private jet gross bookings were down 20% year over year, indicating challenges in maintaining growth momentum. The company reported a net loss of $58 million for the
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News
- Wheels Up Names Jill Greer as Executive Vice President, Investor Relations and Sustainability [Yahoo! Finance]Yahoo! Finance
- Wheels Up Names Jill Greer as Executive Vice President, Investor Relations and SustainabilityPR Newswire
- Wheels Up Secures $332 Million Revolving Financing Facility and Completes Acquisition of 17 Phenom 300 Series Aircraft [Yahoo! Finance]Yahoo! Finance
- Wheels Up Secures $332 Million Revolving Financing Facility and Completes Acquisition of 17 Phenom 300 Series AircraftPR Newswire
- Wheels Up Reports Third Quarter ResultsPR Newswire
UP
Sec Filings
- 11/14/24 - Form SC
- 11/14/24 - Form 8-K
- 11/7/24 - Form 10-Q
- UP's page on the SEC website