Transportation
Delta’s Guidance Misses Estimates After Summer Upheaval
- Carrier sees election uncertainty briefly deterring air travel
- Third-quarter revenue, costs affected by technology outage
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Delta Air Lines Inc. forecast profit and sales short of Wall Street’s estimates for the final months of the year, suggesting a slow recovery from a challenging summer travel season.
Adjusted earnings will be $1.60 to $1.85 a share in the fourth quarter, the carrier said in a statement Thursday that also included third-quarter results. The midpoint is below the $1.78 average of analyst estimates compiled by Bloomberg. Delta’s revenue growth guidance of 2% to 4% compares with an average 4.4% year-over-year increase expected by analysts.