Delta sales guidance disappoints, CEO says airline expects lower demand around the election
Delta expects fourth-quarter earnings of between $1.60 and $1.85 a share.
Delta had previously said the CrowdStrike outage cost it $380 million in revenue and amounted to a 45-cent hit to earnings in the third quarter.
CEO Ed Bastian said consumers will likely pause travel plans around the U.S. election.
Delta had previously said the CrowdStrike outage cost it $380 million in revenue and amounted to a 45-cent hit to earnings in the third quarter.
CEO Ed Bastian said consumers will likely pause travel plans around the U.S. election.
Delta Air Lines expects to grow earnings in the fourth quarter, thanks to resilient travel demand and strong bookings for year-end holidays.
The Atlanta-based carrier on Thursday forecast fourth-quarter adjusted earnings of $1.60 to $1.85 per share, compared with Wall Street estimates of $1.71, according to LSEG, and above the adjusted $1.28 per share it reported a year earlier.
Revenue will likely rise between 2% and 4% from a a year earlier, compared with estimates of a 4.1% increase. The carrier warned it expects a 1-point revenue hit from lower demand before and after the Nov. 5 U.S. presidential election.
The Atlanta-based carrier on Thursday forecast fourth-quarter adjusted earnings of $1.60 to $1.85 per share, compared with Wall Street estimates of $1.71, according to LSEG, and above the adjusted $1.28 per share it reported a year earlier.
Revenue will likely rise between 2% and 4% from a a year earlier, compared with estimates of a 4.1% increase. The carrier warned it expects a 1-point revenue hit from lower demand before and after the Nov. 5 U.S. presidential election.
Here’s how Delta performed in the third quarter, compared with Wall Street expectations based on consensus estimates from LSEG:
Earnings per share: $1.50 adjusted vs. $1.52 expected
Revenue: $14.59 billion adjusted vs. $14.67 billion expected
Earnings per share: $1.50 adjusted vs. $1.52 expected
Revenue: $14.59 billion adjusted vs. $14.67 billion expected
Delta said it still expects its full-year adjusted earnings to come in between $6 and $7 a share, excluding the CrowdStrike impact.
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