Delta Air Lines Follows Suit With Its Industry Counterparts, Lowers Q3 Profit Guidance
Portfolio Pulse from Akanksha Bakshi
Delta Air Lines has lowered its Q3 profit guidance, following similar moves by other airlines. The company now expects Q3 earnings per share of $1.85-$2.05, down from the previous expectation of $2.20-$2.50. Total revenue growth is expected to be within the upper half of initial guidance of +11% to +14%. The airline also anticipates a 1% to 2% rise in non-fuel unit costs for the September quarter, primarily due to unexpectedly higher maintenance costs.
September 14, 2023 | 1:58 pm
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Delta Air Lines has lowered its Q3 profit guidance, which could negatively impact its stock price in the short term. The company's shares are already trading lower.
Delta's lower Q3 profit guidance indicates that the company's financial performance may not meet previous expectations, which could lead to a decrease in its stock price. The company's shares are already trading lower, suggesting that investors may be reacting negatively to the news.
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