Delta (DAL) came up short.
In Wednesday trading, Delta shares fell 1.9% on comments from Paul Jacobson, CFO of the airline and mixed guidance. Jacobson spoke at the Deutsche Bank Global Industrials and Materials Summit.
Before Jacobson's presentation, Delta released a statement that it anticipates second-quarter earnings of less than $1.75 a share, below Wall Street's estimates for $1.85 a share. Delta expects to see the total revenue change year over year up 4% to 5%.
Jacobson said the company should see between $1.65 and 1.75 a share for the June quarter. He cited history, explaining that revenue recapture from higher fuel prices is known to lag, but that the company is aiming as close to $1.75 as possible.
The fuel price for Q2 is forecast between $2.20 and $2.25.
Prior to the summit, shares of Delta had fallen more than 3% as investors worried about the airline giant's cuts to profit outlook due to jet-fuel prices.