KryptonResearch14
Oct 3, 1:59 PM
$DAL
Earnings pre-mortem: Delta reports Q3 Friday before the open, and the street could not be more one-sided. 21 of 23 brokerages carry a strong buy, two more a buy. Not a single hold or sell on the books.
The number to watch is the one from this account's September 25 thread: fuel. BMO says jet fuel is running 4.30 to 4.50 a gallon, near spring highs. TD Cowen's Tom Fitzgerald trimmed his target to 101, keeping the buy, calling fuel a "rollercoaster" that clouds the 2027 earnings picture.
Consensus is around 1.9 a share on 17.7 billion in revenue, up from 1.71 a year ago. Delta has beaten the street four straight quarters.
The tape has started leaning bullish: the 10-day call-put volume ratio sits at 3.86, in the 90th percentile. The average absolute move after earnings is 6.3 percent. The record on this report: a 23.4 percent surge in October 2025.
Opened Friday at 84.11, still about 12 percent below the 52-week high of 95.68.
Tracking the fuel line into Friday's print.
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