Delta (DAL) plans growth cuts, sees $300M refinery boost
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowDelta Air Lines (DAL) announced it will 'meaningfully reduce' capacity growth plans due to rising fuel costs. Shares increased over 11% in premarket trading after a decline in oil prices. The airline forecasts adjusted per-share earnings between $1 and $1.50 for the second quarter, surpassing the $1.41 expected by analysts, with revenue projected to rise in the 'low-teens' percentage range. Delta's fuel expenses are expected to be $2 billion higher this quarter, although it anticipates a $300 million gain from its refinery operations.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Delta Air Lines Inc. (DAL)
Delta Air Lines is one of the largest U.S. airlines.
The Industrials sector covers manufacturers, aerospace, defense and transport companies tied to economic activity.
Earlier DAL news
- Delta (DAL) Stock Rallies After Positive Earnings Release
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- Delta (DAL) Earnings Beat Analysts' Expectations Amid Higher Fuel Costs
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- Delta (DAL) and Starbucks (SBUX) Added to Deutsche Bank's List
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