NewsMV
Delta Air Lines (DAL) ended a seven-quarter streak of earnings beats this morning, reporting third-quarter results that fell short of analyst expectations.
The company posted earnings of $1.72 per share, missing the Zacks consensus by 8 cents, a 4.44% shortfall. Revenues came in at $17.59 billion, which was 0.89% below estimates.
The primary driver for the miss appears to be fuel expenses. Delta's press release identifies fuel costs as the central problem, noting they rose 62% year over year.
This increase resulted in costs that were $500 million higher than what the company guided in July.
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