Why Delta Stock Is Falling Today
Delta Air Lines (NYSE: DAL) beat analyst expectations in the fourth quarter but disappointed on guidance for the coming quarter. Investors apparently were not expecting the turbulence, and they sent shares of Delta down as much as 7.8% on Friday morning.
Airline investors were generally upbeat heading into earnings season. The carriers saw significant demand through the holiday period, and with the exception of Southwest Airlines, the industry largely navigated through a winter storm without incident.
Delta's results reflect the strong travel season. The airline earned $1.48 per share in the fourth quarter on revenue of $13.44 billion, topping expectations for $1.33 per share in earnings on sales of $12.23 billion. For the year, Delta earned $3.20 per share on revenue of $45.6 billion.
Source Fool.com
