Delta Lowers Earnings Forecast, Shares Plunge 13%

The airline cut its revenue and profit outlook for Q1, citing reduced consumer and corporate confidence in the U.S. economy.

Delta revised its Q1 revenue growth forecast to 3%-4%, down from its earlier projection of 7%-9%.
The company slashed its earnings per share guidance to 30-50 cents, significantly below the previously estimated 70 cents to $1.
Delta attributed the downgrade to weakening consumer and corporate confidence and economic uncertainty impacting domestic travel demand.
The announcement caused Delta's stock to drop by 13% in after-hours trading, following a 5.5% decline during the regular session.
The updated guidance precedes a scheduled presentation by Delta executives at the J.P. Morgan Industrials Conference.