Last week, United Airlines (NASDAQ: UAL) reported strong Q3 results that easily surpassed analysts' expectations. It also offered up a bullish forecast, telling investors that profits are set to exceed pre-pandemic levels in the fourth quarter, with more growth ahead.

Sounds pretty good, doesn't it? And despite this rosy forecast, United Airlines stock trades for just seven times forward earnings. Yet Warren Buffett wouldn't dream of buying this airline stock today -- even though Berkshire Hathaway owned it just a few years ago. Here's why.

Image source: United Airlines.

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Source Fool.com