Sarah Patel's Avatar
published in Blogs
Oct 13, 2022
Delta (DAL, $30.34) misses Q3 earnings expectations

Delta (DAL, $30.34) misses Q3 earnings expectations

Delta Air Lines’ third-quarter adjusted earnings (excluding 42 cents from non-recurring items) came in at $1.51 per share,  lower than the Zacks Consensus Estimate of $1.56 (as reported by Zacks Investment Research).

Operating expenses, multiple flight cancellations and weakness in booking due to Hurricane Ian contributed to the earnings miss.

The carrier’s revenues rose +52% from the year-ago quarter to $13,975 million, but fell short of the Zacks Consensus Estimate of $14,157.2 million.

For the fourth quarter, Delta expects capacity to decrease in the 8-9% range. Non-fuel unit costs are expected to rise 12-13% year-over-year. The company expects revenues (adjusted) to be in the $12-$12.4 billion range.

Related Tickers: DAL