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Delta Air Lines cut its full-year 2026 earnings outlook on Friday as persistently high fuel prices compressed margins, though CEO Ed Bastian argued that robust demand remains intact across all customer segments.
The airline, the most profitable carrier in the country, lowered its adjusted earnings per share forecast to between $5.10 and $5.60, a sharp reduction from the $6.50 to $7.50 range it projected in July when fuel costs were lower.
Delta also trimmed its expected free cash flow for the year to $2.5 billion, down from a previous estimate of as much as $4 billion. The guidance miss comes as jet fuel prices in the U.S.
Gulf of Mexico region have nearly doubled to $4.34 per gallon from $2.19 a year earlier, according to FactSet data.
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