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Delta Lowers 2026 Profit Guidance After Fuel Costs Jump 62%

Delta Air Lines lowered its full-year profit guidance to $5.10-$5.60 per share, after third-quarter fuel expenses rose 62% to $4.14 billion.

October 12, 2026
Delta Lowers 2026 Profit Guidance After Fuel Costs Jump 62%

Delta Air Lines cut its full-year adjusted earnings per share forecast to a range between $5.10 and $5.60, down from $6.50 to $7.50 previously, after adjusted fuel expenses in the third quarter surged 62% year-on-year to $4.14 billion.

The average price per gallon of fuel jumped 60% to reach $3.61, a rise that outpaced demand growth and eroded margins. Net income under US GAAP dropped 47% to $756 million.

The company's CEO, Ed Bastian, stated that demand remains "very strong," giving the company some ability to pass a portion of the cost onto travelers through higher fares.

This comes at a time when jet fuel reached an all-time monthly high of $4.37 per gallon in September, and Delta expects to incur about $6 billion in additional fuel expenses during the year, making fuel the primary driver behind the revised forecast.

What do these terms mean?

Adjusted Earnings Per Share: A profit metric that calculates the share per single stock after excluding extraordinary items, to facilitate performance comparison across periods.

Fuel Expenses: The cost paid by the company to refuel its aircraft, which is directly affected by oil prices.

Operating Margin: The difference between revenue and operating costs as a percentage of revenue, measuring company efficiency prior to financial items.

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