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Airline stocks are down today as investors deal with several bits of bad news for the industry on Tuesday!
Starting off the negative news today is Delta Air Lines (NYSE:DAL) with its latest quarterly outlook. This has it expecting revenue to range from $12.2 billion to $12.55 billion. The midpoint of this guidance is below Wall Street’s $12.53 billion estimate for the period.
Next, we have American Airlines (NASDAQ:AAL) and its updated earnings guidance for Q1 2024. The company now expects adjusted EPS to be at the lower range of its previous outlook range of -15 cents to -35 cents. Wall Street’s estimate is for -23 cents per share. This updated outlook comes amid increasing fuel prices.
Finally, we have Southwest Airlines (NYSE:LUV) and its plans to reduce capacity and lower its 2024 outlook. This comes as the company deals with delivery delays from aircraft manufacturer Boeing (NYSE:BA).
Let’s check out how this news is affecting airline stocks below!
Airline Stocks Down Today
- DAL stock is down 1.2% as of Tuesday morning with its latest outlook.
- AAL stock is falling 3.6% as of this writing alongside its updated guidance.
- LUV stock is taking a 14.5% beating today with its 2024 warnings.
Investors who want to check out all of the hottest stock market news will want to stick around!
We have all of the most recent stock market stories that traders need to know about on Tuesday! A few examples include what’s going on with shares of Arm Holdings (NASDAQ:ARM) and Acadia Pharmaceuticals (NASDAQ:ACAD) stock stock today as well as the latest inflation data. All of that is ready to go at the links below!
More Tuesday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the biedexmarkets.com.com Publishing Guidelines.
Article printed from biedexmarkets.com Media, https://biedexmarkets.com.com/2024/03/why-are-airline-stocks-down-today-march-12th/.
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