More companies, especially airlines, warn higher costs will eat into profits
Publishing timestamp: 2023-09-14 16:31:41
Summary
Companies across various industries, including airlines, package delivery, Hollywood, and the auto industry, are warning that the surge in fuel costs and employee pay hikes will impact their profits this quarter. Airlines, in particular, are facing challenges due to higher fuel prices and labor costs. Delta Air Lines and American Airlines have both revised their earnings forecasts downwards. Labor unions in the auto industry and Hollywood are also pushing for better compensation. UPS recently reached a new labor deal with the Teamsters union, which includes raises for workers. The article highlights the potential impact of these increased costs on companies' financial performance.
Sentiment: NEGATIVE
Tickers: UPS, SAVE, LUV, DAL, ALK, AAL, ULCC,
Keywords: delta air lines inc, southwest airlines co, markets, transportation, alaska air group inc, airlines, business news, american airlines group inc, life, travel, autos, business, breaking news: business, breaking news: economy, aerospace and defense industry, spirit airlines inc, inflation, economy, breaking news: markets, united parcel service inc,
Source: https://www.cnbc.com/2023/09/14/more-companies-warn-higher-costs-will-eat-into-profits.html