From Financial Modeling Prep: 2024-10-10 15:11:00

Delta Air Lines (NYSE:DAL) issued Q4 earnings guidance below expectations due to a summer network outage and pricing pressure. Adjusted EPS forecasted at $1.60 to $1.85, lower than the $1.78 estimate, causing shares to drop 2%. Revenue expected to grow 2-4%, despite a slight dip in demand linked to the U.S. election.

In July, Delta faced a network issue leading to 7,000 flight cancellations, costing $380 million in refunds. Operating expenses rose by $170 million, but fuel savings of $50 million offset some losses. Q3 earnings per share dropped by $0.45 due to disruptions, impacting annual guidance of $6 to $7 per share.

Delta reported Q3 adjusted earnings of $1.50 per share, down from $2.03 last year. Revenue reached $14.59 billion, slightly below the $14.65 billion estimate. Despite challenges, Delta aims to align annual adjusted income with its guidance range. The airline continues to navigate recovery from the summer outage and pricing pressures.



Read more at Financial Modeling Prep:: Delta Air Lines Lowers Guidance, Stock Down 2%