Delta forecasts 2019 profit below expectations

Published 12-13-2018

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Delta Air Lines says its profit will rise next year though possibly not as much as was thought, and that is sending shares are down in early trading.

Meeting with investors in New York, the airline said Thursday that it will earn adjusted profit of $6 to $7 per share next year. The midpoint, $6.50, is below the $6.70 consensus of industry analysts, according to a survey by FactSet.

Shares of the Atlanta carrier fell 2.6 percent to $54.80 at the opening bell.

Delta is spending $2 billion more on fuel this year than last, but oil prices began to drop again in early October. Delta expects its fuel bill to drop by $300 million next year compared with 2018.

CEO Ed Bastian says travel demand remains solid.

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