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Complete financial analysis of Wheels Up Experience Inc. (UP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Wheels Up Experience Inc., a leading company in the Airlines, Airports & Air Services industry within the Industrials sector.
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Wheels Up Experience Inc. (UP)
About Wheels Up Experience Inc.
Wheels Up Experience Inc. provides private aviation services primarily in the United States. The company offers a suite of products and services, which include multi-tiered membership programs, on-demand flights across various private aircraft cabin categories, aircraft management, retail and wholesale charter, whole aircraft acquisitions and sales, corporate flight solutions, special missions, signature events and experiences, and commercial travel. It operates a fleet of approximately 1,500 aircraft. The company was founded in 2013 and is headquartered in New York, New York.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Revenue | 1.25B | 1.58B | 1.19B | 694.98M | 384.91M | 332.14M |
| Cost of Revenue | 1.29B | 1.54B | 1.12B | 634.78M | 340.67M | 276.43M |
| Gross Profit | -37.72M | 39.44M | 76.63M | 60.21M | 44.24M | 55.71M |
| Gross Profit Ratio | -3.01% | 2.50% | 6.42% | 8.66% | 11.49% | 16.77% |
| Research & Development | 61.87M | 57.24M | 33.58M | 21.01M | 13.97M | 10.20M |
| General & Administrative | 145.87M | 183.53M | 113.33M | 64.89M | 28.43M | 13.53M |
| Selling & Marketing | 88.83M | 117.11M | 80.07M | 55.12M | 40.62M | 42.05M |
| SG&A | 234.70M | 300.64M | 193.40M | 120.01M | 69.05M | 64.28M |
| Other Expenses | 109.26M | 65.94M | 54.20M | -17.85M | 39.35M | 0.00 |
| Operating Expenses | 464.37M | 423.82M | 281.18M | 123.17M | 122.37M | 108.19M |
| Cost & Expenses | 1.70B | 1.96B | 1.40B | 757.95M | 463.04M | 384.62M |
| Interest Income | 6.12M | 3.67M | 53.00K | 550.00K | 615.00K | 30.76M |
| Interest Expense | 41.26M | 7.52M | 9.52M | 22.99M | 29.36M | 0.00 |
| Depreciation & Amortization | 58.53M | 65.94M | 54.20M | 58.53M | 39.35M | 33.23M |
| EBITDA | -386.22M | -481.93M | -133.46M | -3.89M | -38.16M | -18.77M |
| EBITDA Ratio | -30.82% | -19.99% | -12.59% | -0.56% | -9.91% | -5.65% |
| Operating Income | -443.56M | -384.38M | -204.55M | -62.97M | -78.13M | -52.00M |
| Operating Income Ratio | -35.39% | -24.33% | -17.13% | -9.06% | -20.30% | -15.66% |
| Total Other Income/Expenses | -42.45M | 4.63M | 6.11M | -22.44M | -28.75M | -30.76M |
| Income Before Tax | -486.00M | -507.38M | -197.17M | -85.41M | -106.87M | -83.24M |
| Income Before Tax Ratio | -38.78% | -32.12% | -16.51% | -12.29% | -27.77% | -25.06% |
| Income Tax Expense | 1.38M | 170.00K | 58.00K | 16.23M | 18.76M | 0.00 |
| Net Income | -487.39M | -507.55M | -197.23M | -101.63M | -125.63M | -83.24M |
| Net Income Ratio | -38.89% | -32.13% | -16.51% | -14.62% | -32.64% | -25.06% |
| EPS | -3.69 | -20.66 | -9.63 | -4.14 | -5.12 | -3.39 |
| EPS Diluted | -3.69 | -20.66 | -9.63 | -4.14 | -5.12 | -3.39 |
| Weighted Avg Shares Out | 132.19M | 24.57M | 20.48M | 24.53M | 24.53M | 24.53M |
| Weighted Avg Shares Out (Dil) | 132.19M | 24.57M | 20.48M | 24.53M | 24.53M | 24.53M |
Wheels Up: Be Patient, But A Turnaround Is In The Works
Shares of Wheels Up have begun a modest rebound after the company's Q3 earnings release. Importantly, Wheels Up announced a $332 million financing package from Bank of America and guaranteed by Delta to purchase new aircraft. Standardizing Wheels Up's fleet...
Wheels Up Names Jill Greer as Executive Vice President, Investor Relations and Sustainability
Greer to lead Wheels Up's investor relations strategy as well as the development and implementation of company's sustainability strategy ATLANTA , Nov. 19, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), a global leader in private aviation, today announced the...
Wheels Up Secures $332 Million Revolving Financing Facility and Completes Acquisition of 17 Phenom 300 Series Aircraft
New Bank of America-led facility, with Delta Air Lines credit support, provides growth flexibility as Wheels Up expands its fleet with GrandView Aviation assets to enhance customer experience ATLANTA , Nov. 14, 2024 /PRNewswire/ -- On November 13, 2024, Wheels Up...
Wheels Up Experience Inc. (UP) Q3 2024 Earnings Call Transcript
Wheels Up Experience Inc. (NYSE:UP ) Q3 2024 Results Conference Call November 7, 2024 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Eric Cabezas - Interim Chief Financial Officer Operator Welcome to...
Wheels Up Reports Third Quarter Results
Improvement in financial performance driven by operating initiatives over past year Fleet modernization plan represents next phase of strategic journey to profitability New credit facility expected to strengthen balance sheet; credit support from Delta Air Lines underscores commitment to strategic...
Wheels Up Announces Fleet Modernization Strategy and Associated Transactions
Wheels Up to transition its current jet fleets to Phenom 300 Series and Challenger 300 Series aircraft Entered into agreement to acquire GrandView Aviation's entire fleet of 17 Phenom 300 and Phenom 300E aircraft Entered into agreement to sell entire...
Wheels Up Announces Date of Third Quarter 2024 Earnings Release and Webcast
ATLANTA , Oct. 17, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that it will release its third quarter 2024 financial results on Thursday, November 7, 2024. Management will provide a review of the quarter and business update...
Wheels Up Appoints Meaghan Wells as EVP of Enterprise Planning and Strategy
Wells to lead Wheels Up's enterprise planning, fleet and corporate strategy, corporate development and commercial partnerships, leveraging her years of industry experience ATLANTA , Oct. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced Meaghan Wells as...
Wheels Up Announces Investors Agree to One-Year Lock-Up Extension
Approximately 97.2% of lead investor shares will remain subject to the lock-up restriction until September 20, 2025 ATLANTA , Sept. 23, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that lead investors, Delta Air Lines, Inc., CK Wheels LLC, and...
Wheels Up Announces Executive Leadership Transitions
Chief Financial Officer Todd Smith and Chief Legal Officer Laura Heltebran to depart Matthew Knopf to join as Chief Legal Officer and Secretary, with Eric Cabezas acting as interim Chief Financial Officer ATLANTA , Aug. 21, 2024 /PRNewswire/ -- Wheels...
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