United Airlines Holdings Inc. late Wednesday refined its 2025 profit outlook, joining Delta Air Lines Inc. in giving investors some hope for the industry, but a mixed earnings snapshot and lingering macroeconomic concerns left the stock under pressure.

United Airlines on Wednesday forecast a lower-than-expected profit in the quarter through September as worries about rising living costs and an uncertain economic outlook have led to a pullback in discretionary travel spending.

United Airlines said Wednesday travel demand has picked up since the beginning of July, thanks to less geopolitical and macroeconomic uncertainty. The Chicago-based airline, however, expects its earnings to suffer in the current quarter due to operational constraints at Newark airport near New York City — one of its largest hubs and among the busiest in the country.