Delta's Turbulent Q3: Mixed Results And Tech Troubles Cloud Holiday Outlook

Delta Air Lines, Inc. (NYSE:DAL) shares are trading lower premarket after the company reported mixed third-quarter results.

Delta reported third-quarter operating revenue growth of 1% year-over-year to $15.677 billion, beating the consensus of $14.674 billion. Adjusted operating revenue was $14.594 billion (almost flat YoY).

Adjusted average fuel price of $2.53 per gallon, down 9% from last year’s quarter. Adjusted EPS was $1.50 (-26% YoY), missing the consensus of $1.52.

Total passenger revenue was almost flat year over year at $13.107 billion; cargo revenue grew 27% year over year to $196 million, and Other revenue was $2.374 billion (+7% year over year).

Delta recorded an adjusted operating income of $1.373 billion, compared to $1.963 billion YoY, with an adjusted operating margin of 9.4%, down ~410 bps.

Adjusted operating expenses increased by 5% YoY to $13.221 billion, and non-fuel costs were $10.13 billion (+10% Y/Y) for the quarter.

Delta reported a $380 million revenue hit from the CrowdStrike-caused outage in the September ...

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