Yahoo Finance | Delta earnings: Q3 earnings hit by Crowdstrike outage @YahooFinance | Uploaded October 2024 | Updated October 2024, 1 week ago.
Delta Air Lines (DAL) reported its third quarter results, falling short of earnings estimates on revenue and profit. The airline posted revenue of $14.59 billion, slightly below the expected $14.68 billion. Adjusted earnings per share also missed the mark, coming in at $1.50 compared to the expected $1.52. S&P Global Ratings airlines managing director Jarrett Bilous joins Market Domination to discuss Delta's earnings and provide insights on the broader airline sector. Bilous characterizes the CrowdStrike (CRWD) tech outage that affected Delta's quarterly performance as "a one-time item," suggesting the airline can weather such isolated incidents. He highlights some "positive takeaways" from the report, noting that supply and demand dynamics in the industry are becoming more balanced, which should benefit all airlines to some degree. Regarding capacity in the sector, particularly with airlines like ultra-low-cost carrier Spirit (SAVE) facing potential bankruptcy, Bilous cautions that it's "speculative to say at this point." He notes that while Spirit hasn't announced any filing, they are "struggling as an airline to become profitable." The potential impact of Spirit's situation on the broader airline sector remains "debatable," according to Bilous.
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Delta Air Lines (DAL) reported its third quarter results, falling short of earnings estimates on revenue and profit. The airline posted revenue of $14.59 billion, slightly below the expected $14.68 billion. Adjusted earnings per share also missed the mark, coming in at $1.50 compared to the expected $1.52. S&P Global Ratings airlines managing director Jarrett Bilous joins Market Domination to discuss Delta's earnings and provide insights on the broader airline sector. Bilous characterizes the CrowdStrike (CRWD) tech outage that affected Delta's quarterly performance as "a one-time item," suggesting the airline can weather such isolated incidents. He highlights some "positive takeaways" from the report, noting that supply and demand dynamics in the industry are becoming more balanced, which should benefit all airlines to some degree. Regarding capacity in the sector, particularly with airlines like ultra-low-cost carrier Spirit (SAVE) facing potential bankruptcy, Bilous cautions that it's "speculative to say at this point." He notes that while Spirit hasn't announced any filing, they are "struggling as an airline to become profitable." The potential impact of Spirit's situation on the broader airline sector remains "debatable," according to Bilous.
#stockmarket #news #youtube
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: twitter.com/YahooFinance
Instagram: instagram.com/yahoofinance/?hl=en
TikTok: tiktok.com/@yahoofinance?lang=en
Facebook: facebook.com/yahoofinance
LinkedIn: linkedin.com/company/yahoo-finance
