Delta Air Lines slashes earnings outlook citing weaker U.S. demand, sending shares down

Delta Air Lines slashes earnings outlook citing weaker U.S. demand, sending shares down


Delta Air Lines planes are seen parked at Seattle-Tacoma International Airport on June 19, 2024 in Seattle, Washington.

Kent Nishimura | Getty Images

Delta Air Lines cut its first-quarter revenue and profit forecasts, citing weaker consumer and corporate travel demand.

Delta expects revenue in the quarter ending March 31 to rise no more than 5% from last year, down from a forecast in January of 6% to 8% growth. It slashed its adjusted earnings forecast to 30 cents to 50 cents per share from a previous guidance of 70 cents to $1 a share.

“The outlook has been impacted by the recent reduction in consumer and corporate confidence caused by increased macro uncertainty, driving softness in Domestic demand,” Delta said in a securities filing.

The forecast, delivered after the market closed on Monday, comes a day before a JPMorgan airline industry conference where CEOs are expected to update investors on current demand trends.

This is breaking news. Please check back for updates.

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