达美航空下调全年盈利预期近四分之一：燃油账单今年多花约60亿美元，三季度燃油支出涨62%
达美航空周五（10月9日）公布三季度业绩并下调全年盈利预期：调整后全年每股收益预期从7月给出的6.50至7.50美元，下调到5.10至5.60美元，中值降幅近四分之一，低于分析师平均预期的5.46美元；全年调整后税前利润预期为45亿美元。达美是本轮财报季首家公布业绩的美国大型航空公司，消息公布后其股价盘前一度下跌约3%，周五收盘基本持平。
下调几乎全部来自燃油。达美预计今年燃油账单将比去年多出约60亿美元；三季度燃油支出同比大涨62%至41亿美元，比7月时的预估高出5亿多美元。三季度调整后每股收益1.72美元，略低于预期的1.76美元；调整后营业利润率从去年同期的11.1%降至9.4%。财务总监斯内尔（Erik Snell）对记者表示，下调预期的原因“全在燃油”，原油与航油价格入夏以来双双上涨。
行业层面，据美国运输统计局数据，今年前八个月美国各航空公司燃油总支出达429亿美元，比去年同期多约132亿美元，而实际耗油量还略有减少。联合航空、美国航空与西南航空将于本月稍后陆续公布业绩。提醒南加旅客：票价今年已多次上调，若油价高位维持，航司是否继续把成本转嫁给乘客，将是年底假日季票价走势的关键。
（资料来源：路透社10月9日报道、达美航空三季度业绩公布）
Delta Cuts Annual Profit Forecast by Nearly a Quarter as Fuel Bill Jumps About $6 Billion; Q3 Fuel Costs Up 62%
Delta Air Lines reported third-quarter results on Friday (Oct. 9) and cut its full-year profit forecast: adjusted earnings are now expected at $5.10 to $5.60 per share, down from $6.50 to $7.50 guided in July — a cut of nearly a quarter at the midpoint, below analysts' average estimate of $5.46 — with adjusted pre-tax profit forecast at $4.5 billion. Delta is the first major U.S. airline to report this earnings season; its shares fell about 3% in premarket trading and ended Friday near flat.
The downgrade is driven by fuel. Delta expects its annual fuel bill to rise by roughly $6 billion from last year; third-quarter fuel expense jumped 62% year over year to $4.1 billion, more than $500 million above what it anticipated in July. Third-quarter adjusted earnings of $1.72 per share narrowly missed the $1.76 estimate, and the adjusted operating margin fell to 9.4% from 11.1%. Chief Financial Officer Erik Snell told reporters the forecast cut was all about fuel, citing increases in both crude oil and refined jet fuel prices since the summer.
Industry-wide, U.S. airlines spent $42.9 billion on fuel in the first eight months of 2026 — about $13.2 billion more than a year earlier — despite using slightly less fuel, according to the Bureau of Transportation Statistics. United, American and Southwest are due to report later this month. For Southern California travelers: ticket prices have risen several times this year, and whether airlines keep passing costs to passengers will be key for year-end holiday fares if oil stays high.
(Sources: Reuters Oct. 9; Delta Q3 results)
图片来源：Adolch，CC BY-SA 4.0（Wikimedia Commons）
