Strong 2Q at Delta, but spiraling fuel costs ping outlook
by The Associated Press
Profit expectations trend up, yet Delta curbs its outlook this year, citing fuel costs
ATLANTA – Delta is topping most profit expectations for the second-quarter, but it’s slashing its outlook for the year, citing a $2 billion spike in fuel costs.
The Atlanta carrier on Thursday reported net income of $1.02 billion, or $1.47 per share. Adjusted per-share earnings were $1.77, which, according to a survey by Zacks Investment Research, is a nickel better than Wall Street expected.
That’s still down from last year and again, the company cited soaring fuel costs.
Revenue of $11.78 billion also beat projections.
Delta Air Lines Inc. expects full-year earnings of $5.35 to $5.70 per share, down from earlier per-share forecasts of $6.35 to $6.70.