Delta Air Lines cut its 2026 earnings guidance to $5.10–$5.60 per share from $6.50–$7.50, citing $6 billion in expected fuel costs, according to Skift.
The Details Behind Delta’s Fuel Cost Guidance
Chief Financial Officer Erik Snell said the revision was driven entirely by high jet fuel costs, which averaged $4.50 per gallon as of Thursday evening, according to Skift. Crude and crack spreads are running above July levels.
The fuel pressure comes despite a profitable third quarter for the carrier. Revenue rose 16% to $17.59 billion, with premium revenue up 18% over the same period last year. Unit revenue grew across every major region Delta tracks: domestic traffic rose 16%, transatlantic climbed 11%, Latin America jumped 22% and transpacific increased 13%. Capacity held flat during the quarter.
The airline has already accrued $900 million in profit sharing for 2027.
What It Means For Fans And Customers
Delta has not announced changes to fares, routes or service tied to the guidance revision. Travelers booking with Delta are working from existing fare structures and schedules.
Delta expects fourth-quarter revenue to rise 20% year over year, with the quarter already nearly 60% booked. The booking pace signals strong demand despite higher fuel costs.
Context On Delta’s Market Position
Snell said expected industry capacity growth into early 2027 is concentrated in markets where Delta lacks a major presence, positioning the airline well for 2027 despite fuel headwinds.
What’s Next
Delta’s updated 2026 earnings guidance stands until the airline’s next quarterly update. No timeline has been given for when fuel prices may ease.
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