Shares of Delta Air Lines are down over 3% Friday morning after the company released its third-quarter earnings report. 

The airline’s revenue rose 16% year-over-year (YOY) from $15.20 billion to $17.59 billion. However, it failed to reach Wall Street’s expected $17.67 billion, according to consensus estimates cited by CNBC. 

Similarly, it fell short on earnings per share, reporting $1.72 adjusted rather than the predicted $1.75. 

Delta also saw its net income fall significantly. The company reported $1.15 billion in net income, down 47% YOY from $2.17 billion. 

Given the ongoing Iran War-aggravated fuel crisis, it’s not surprising that Delta’s fuel expense and average fuel price per gallon have skyrocketed.

The U.S. air carrier saw its fuel expense rise 69% YOY to $4.35 billion, while average price per gallon rose 68% YOY to $3.80. 

In the report, Delta CEO Ed Bastian claimed that Delta is strong enough to navigate this issue.

“Our resilience reflects the structural durability we’ve built over many years, enabling us to effectively navigate one of the most elevated fuel environments in recent times,” Bastian said. “The foundation of that resilience is our people, whose commitment to delivering for our customers continues to set Delta apart.” 

Bastian added: “Demand remains strong, supported by consumers’ growing preference for experiences and travel, with air travel continuing to be one of the best values in the consumer economy.”

Despite that confidence, Delta has updated its full 2026 expected results to a more conservative prediction. 50.

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