Delta Air Lines Misses On Fourth-quarter Profit, Sales Expectations

Delta Air Lines said it had a net income of $980 million, or $1.25 per share, in the fourth quarter 2015, compared with a loss of $712 million, or a loss of 86 cents per share, for the same period one year ago. Adjusted earnings were $1.18 per share, below the FactSet consensus of $1.19 per share. Revenue for the quarter was $9.5 billion, down from $9.65 billion for the same period last year. FactSet consensus was for revenue of $9.6 billion. Passenger unit revenue declined 1.6% to $8.1 billion, according to the company. Delta sees passenger unit revenue to decline between 2.5% and 4.5% for the first quarter of 2016 due to global volatility and currency pressures, Delta President Ed Bastian said in a statement. Delta shares are down 11.5% over the past three months while the S&P is down 7.5% for the same period.