Delta Air Lines reported third-quarter adjusted earnings per share of $1.72, missing the consensus estimate of $1.81, while revenue of $20.186 billion beat the consensus estimate of $17.654 billion. The airline lowered its fiscal-year 2026 adjusted earnings per share guidance to $5.10 to $5.60 from $6.50 to $7.50, against a consensus estimate of $5.59, and guided fourth-quarter adjusted earnings per share to $1.15 to $1.65 versus the consensus estimate of $1.51, with sales of $17.527 billion versus the consensus estimate of $17.192 billion. Delta said its business has structural durability in a high-fuel-cost environment and that it will absorb a $6 billion increase in fuel costs, with fourth-quarter guidance assuming fuel at the forward curve as of Oct. 2 and including a refinery benefit of about 40 cents per gallon, resulting in a projected all-in fuel price of about $4.25 per gallon. The report is a read-through for American Airlines, which cut its 2026 outlook in July to adjusted earnings per share guidance of negative 65 cents to positive 65 cents after record second-quarter revenue was almost entirely offset by an 83% jump in fuel costs; unlike Delta, American does not hedge fuel and has no refinery to offset it.
Delta Air Lines IncDelta missed Q3 EPS estimates and slashed its FY2026 adjusted EPS guidance to $5.10-$5.60 from $6.50-$7.50.
American Airlines GroupRead-through: American cut its 2026 outlook after an 83% jump in fuel costs, and unlike Delta it does not hedge fuel and has no refinery to offset it.
