From CNBC:

Delta Air Lines shares fell by 7% after the company adjusted its 2024 earnings forecast. The new estimate expects full-year earnings per share of $6 to $7, below the previous estimate of over $7 per share. Other major airlines, including United, American, and Southwest, also saw declines following the new forecast.

Despite the earnings forecast adjustment, Delta finished 2023 with a doubled quarterly profit of $2.04 billion. CEO Ed Bastian stated in a CNBC interview that the airline has recovered nearly 90% of its pre-pandemic travel demand and anticipates strong growth in international travel.

Delta is optimistic about an inflection point in domestic unit revenues turning positive in the new year, and shares surged more than 20% in 2023. However, the stock is still down from its all-time high of $63.16 in July 2019, currently trading at around $39 per share.



Read more: Airline stocks tumble after Delta trims profit forecast