Delta Shares Lag Broader Market Ahead of October Earnings
The airline's shares fell more than major indexes, while analysts expect higher earnings and revenue in its next quarterly report.
Delta Air Lines shares fell 1.07% to close at $84.03 in the latest session, underperforming the S&P 500, which lost 0.77%. The Dow fell 0.67%, while the Nasdaq declined 0.92%.
Over the past month, Delta shares gained 6.08%. That outpaced a 7.07% loss for the Transportation sector and a 0.96% rise in the S&P 500.
Delta is scheduled to report earnings on October 9. Zacks’ consensus estimate calls for quarterly earnings of $2.03 per share, up 18.71% from a year earlier, and revenue of $17.67 billion, a 6% increase.
For the full year, Zacks’ consensus forecasts earnings of $6.23 per share and revenue of $66.58 billion. Those estimates represent year-over-year increases of 7.04% and 5.08%, respectively.
The consensus estimate for quarterly earnings per share was unchanged over the past 30 days, according to Zacks. The forecasts remain estimates ahead of the company’s report.
This article was produced with the help of AI technology.
Source: Yahoo Finance
