Delta stock slides as a $6 billion fuel bill bites

Delta Air Lines’ shares slid after the airline cut its full-year outlook, blaming surging fuel costs even as travel demand remained strong. In third-quarter 2026 results, Delta reported adjusted earnings of $1.72 per share, below a $1.81 Wall Street estimate, while revenue rose 21% to $20.2 billion. Adjusted operating revenue increased 16% to a record $17.6 billion, but the adjusted operating margin narrowed to 9.4% from 11.1%. Fuel expense jumped 62% to $4.1 billion as the average fuel price rose 60% to $3.61 per gallon, absorbing more than $500 million in extra costs versus an early-July forecast. Delta lowered its adjusted earnings forecast to $5.10–$5.60 per share and guided Q4 adjusted earnings of $1.15–$1.65.