By Janet H. Cho
Delta Air Lines slashed its first quarter earnings and revenue guidance, citing recently reduced consumer and corporate confidence amid "increased macro uncertainty."
The Atlanta-based carrier cut its first quarter revenue growth forecast to 3% to 4%, less than half its earlier forecast of 7% to 9%. And it slashed its forecast for adjusted earnings, to 30 cents to 50 cents a share from an earlier forecast that ranged from 70 cents to $1 a share.
It disclosed the new forecasts in a regulatory filing ahead of a Tuesday morning presentation at the J.P. Morgan Industrials Conference. Shares of Delta fell more than 12% in after hours trading.
"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 the filing.
It expects first quarter operating margin of 4% to 5%, compared with 6% to 8% previously.
Delta noted that its "Premium, international and loyalty revenue growth trends are consistent with expectations and reflect the resilience of Delta's diversified revenue base."
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(END) Dow Jones Newswires
March 10, 2025 17:03 ET (21:03 GMT)
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