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Why Delta Air Lines Shares Are Falling

Delta Air Lines, Inc. (NYSE: DAL) shares are trading lower after the company reported worse-than-expected third-quarter sales results.

The company reported quarterly sales of $8.28 billion which missed the analyst consensus estimate of $8.40 billion.

“While demand continues to improve, the recent rise in fuel prices will pressure our ability to remain profitable for the December quarter. As the recovery progresses, I am confident in our path to sustained profitability as we continue to provide best-in-class service to our customers, strengthen preference for our brand, while creating a simpler, more efficient airline,” said Ed Bastian, Delta’s chief executive officer.

Delta Air Lines provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery.

Delta’s stock was trading about 4.6% lower at $41.56 per share on Wednesday at the time of publication. The stock has a 52-week high of $52.28 and a 52-week low of $28.74.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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