ATLANTA, GA – Delta Air Lines slashed its first-quarter earnings and revenue outlook Monday, saying that a recent decline in consumer and corporate confidence amid growing uncertainty over the economy is driving softness in domestic demand.
Shares in the Atlanta-based carrier fell 13.2% in after-hours trading after closing 5.5% lower during the regular session.
The stock is down 16.8% so far this year. Delta is now forecasting first-quarter revenue will rise between 3% and 4% compared to a year earlier.
That’s below the company’s previous outlook for revenue growth between 7% and 9%.
The airline also predicted its first-quarter earnings per share will range between 30 cents and 50 cents, down from its prior guidance for earnings of 70 cents to $1 per share.
