Airline stocks are in desperate need of some good news. Earnings season is unlikely to provide enough.
However, all that wasn’t enough to lift shares, which have now fallen 30% since their July peak. Higher jet fuel prices in the third quarter and rising oil prices in the near term as a result of the Israel-Hamas war are among the factors keeping pressure on airline stocks. Analysts are expecting adjusted earnings per share of $3.38 on revenue of $14.4 billion but beating those estimates probably won’t be enough. Investors will be closely watching United’s full-year earnings guidance, particularly after Delta trimmed its 2023 outlook. Delta now expects EPS of between $6 and $6.25 from a previous range of $6 to $7.
If larger carriers can’t boost their shares by posting strong profits, record revenue, and signaling robust demand, spare a thought for the low-cost carriers including JetBlue Airways , Spirit Airlines , and Frontier Airlines , which are all expected to post a loss.
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