Although Delta Air Lines Inc (DAL  ) reported its fourth-quarter earnings slightly ahead of expectations, its guidance came in below consensus at the midpoint, according to Goldman Sachs.

The Delta Air Lines Analyst: Analyst Catherine O'Brien maintained a Buy rating and price target of $77.

The Delta Air Lines Thesis: The company reported its quarterly adjusted earnings at $1.55 per share, slightly ahead of consensus of $1.53 per share and its recently-lowered guidance of around $1.50 per share, O'Brien said in the note.

"The beat vs. our forecast was driven by better-than-expected revenue," she added.

Delta Air Lines guided to earnings of $6.50-$7.50 per share for 2026, with the midpoint coming below consensus of $7.28 per share, the analyst stated.

"While the outlook represents 20% EPS growth, ahead of the company's 3 to 5 year target of 10% average EPS growth, it is below investors expectations per our recent conversations," she wrote.

The company also guided to earnings between 50 cents and 90 cents per share for the first quarter of 2026, with the midpoint coming broadly in-line with consensus of 72 cents per share, O'Brien further said.

DAL Price Action: Shares of Delta Air Lines had declined by 2.82% to $69.01 at the time of publication on Tuesday.