Delta reports Q3 earnings miss as fuel costs surge

Delta Air Lines posted third‑quarter net earnings of $1.72 per share, below the $1.75 consensus, while revenue grew 21% year‑over‑year to $20.19 billion. The airline’s cost per seat mile rose 25% as kerosene expenses jumped to $4.4 billion in the quarter, up from $2.6 billion a year earlier. Delta also said its refinery segment revenue increased 76% in Q3 and it has cut its 2026 EPS outlook to a range of $5.10‑$5.60.