Delta Air Lines cuts full-year earnings outlook

By Katherine Hamilton Delta Air Lines cut its earnings outlook after another quarter of persistently high fuel costs. The airline said Friday it now expects full-year earnings per share to be $5.10 to $5.60, down from its previous guidance range of $6.50 to $7.50. In the current fourth quarter Delta expects earnings per share of $1.15 to $1.65. Analysts surveyed by FactSet are projecting $1.43 a share. Revenue is expected to increase by about 20% from the same period a year ago. Estimates for the current quarter are based on an expected fuel price of $4.25 a gallon, and a refinery benefit of 40 cents per gallon, the company said. Chief Executive Ed Bastian said Delta was operating in "one of the most elevated fuel environments in recent times." However, demand among travelers has stayed strong, he said. Third quarter net income slid to $756 million, or $1.15 a share, from $1.42 billion, or $2.17 a share, a year earlier. Adjusted earnings per share were $1.72, behind the $1.77 anticipated by analysts, according to FactSet. Total operating revenue rose 21% to $20.19 billion. Analysts surveyed by FactSet forecast revenue of $17.65 billion. Delta's refinery contributed $2.6 billion in sales, a 76% jump from the year before. Excluding refinery sales, revenue was $17.59 billion. The company recorded $4.1 billion in adjusted fuel costs in the quarter, up 62% from the year before. The cost of fuel was $500 million higher in the quarter compared with guidance shared in July. Dow Jones, publisher of The Wall Street Journal, has a commercial agreement with Delta including news content on flights. Write to Katherine Hamilton at katherine.hamilton@wsj.com (END) Dow Jones Newswires October 09, 2026 06:30 ET (10:30 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.