Wheels Up Experience Inc Down 8.36% To $2.52 After Earnings

Wheels Up Experience Inc (UP) said before open Thursday that it lost $0.14 per share in quarter four 2023.

On the revenue line, the company reported $246.4 million, missing estimates by $143.7 million.

In the same quarter a year ago, the company lost $2.7 per share on revenue of $408.3 million.

The stock is down 8.36% to $2.52 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Wheels Up Experience Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 43. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Wheels Up Experience Inc is the provider of on-demand private aviation in the United States. It is pioneering data and technology-driven solutions that connect consumers to safety-vetted and verified private aircraft. Its offerings consist of multi-tiered membership programs, on-demand flights across all private aircraft cabin categories, aircraft management, retail and wholesale charter, aircraft sales, corporate flight solutions, special missions, signature events and experiences, and commercial travel benefits through its strategic partnership with Delta.