Delta Stock Drops After Airline Cuts Sales, Profit Outlook | Global News Avenue

Delta Air Lines shares fell in weekend trading after airlines cut sales and profit guidance in the first quarter, citing economic “uncertainty” forcing demand for U.S. travel.

delta(Dahl) In regulatory filings at night, it said revenue would rise 3% to 4%, with earnings per share of 30 cents to 50 cents. These numbers drop to $1 from the range of 7% to 9% and 70 cents.

The company’s fill-in reading: “The prospect has been affected by recent consumer and company confidence that has reduced macro uncertainty and driven softness of domestic demand.” CEO Ed Bastian cited weaknesses in corporate and consumer spending held on Monday at CNBC.

“Consumers don’t like uncertainty in discretionary businesses,” Bastian said.

Delta shares fell nearly 13% in late trading after sliding more than 5% in regular meetings.

The company announced the figure ahead of an investor meeting scheduled for Tuesday morning.