Delta Air Lines Q1 earnings preview
Delta Air Lines is due to release its Q1 results on April 8 before the market opens.
Expectations are for EPS of $0.64 for the quarter, which would mark a 39% increase year-on-year. However, that estimate has also been cut by 11% over the past two months, suggesting analysts have become more cautious heading into the release.
Revenue is expected to come in at $14.82 billion, representing a 5.6% increase compared with the first quarter of 2025.
For the full year, earnings are forecast at $6.80 per share, up 16.8%, while annual revenue is expected to reach $66 billion, a 4% increase.
Delta’s Q1 results are likely to be shaped by a difficult cost backdrop. Elevated jet fuel prices, driven by the ongoing Middle East conflict, remain a key risk. Oil prices have jumped 60% since the start of March, putting pressure on airline margins.
Given that most US airlines do not hedge fuel costs, the sector remains particularly exposed to higher oil prices. Delta does have some insulation through its Pennsylvania refinery, but that is unlikely to fully offset the broader fuel cost pressure.
At the same time, labour costs are also likely to have remained elevated, adding another headwind to profitability.
Even so, the revenue side of the story is more positive. Solid travel demand and firmer ticket pricing are expected to support top-line growth, with resilient consumer and business travel helping to offset some of the cost pressure.
Earnings come after Delta’s share price rose more than 1% in March, outperforming some of its airline peers despite a more challenging backdrop for the sector.
How to trade Delta Air Lines earnings
After reaching a record high of $76 on February 11, the share price fell sharply before finding support around $55.20.
From there, the stock has rebounded and moved back above both the 50-day SMA and the 200-day SMA, improving the near-term technical outlook.
Buyers will be looking for a move towards $71 as the next upside target, ahead of a retest of the $76 record high.
On the downside, support can be seen around the 50-day SMA near $66. A break below that level would bring $62.50, last week’s low, into focus, ahead of the 200-day SMA around $60.40.
Levi Strauss Q1 earnings preview
Levi Strauss is set to release its Q1 2026 results on April 7 before the market opens.
Expectations are for EPS of $0.37, a 2.6% decline year-on-year, on revenue of $1.65 billion, which would mark a 3.2% annual increase.
Revenue growth is expected across all major regions, including:
Americas: +3.7%
Europe: +13.8%
Asia: +10.3%
Despite consistently posting solid earnings, Levi’s share price has continued to underperform. The stock is down 8% year-to-date, lagging behind the S&P 500’s 4% decline.
That suggests the market remains unconvinced by the broader turnaround story, with concerns lingering around consumer spending, inventory discipline, and the outlook for discretionary retail demand.
How to trade Levi earnings
The share price has traded in a broad holding pattern since last October, capped on the upside near $23 and supported on the downside around $19.
More recently, the stock broke below the $19 support level, falling to a low of $17.18, while upside attempts continue to be capped below $19.
The price remains below both its 50-day SMA and 200-day SMA, and the 50-day SMA has recently crossed below the 200-day SMA, forming a classic death cross — a bearish technical signal.
Sellers will look for a break below $17.80 to open the door towards $16.20, the June low.
On the upside, buyers would need to reclaim $19 to expose the 50-day SMA at $20.20, followed by the 200-day SMA at $20.80.
Constellation Brands Q4 earnings preview
Constellation Brands is expected to announce its Q4 2025 results on April 8 before the market opens.
Expectations are for revenue of $1.85 billion, representing a 12% decline year-on-year, while EPS is forecast at $1.70, down 34% from the same period last year.
Despite disappointing Q3 results in January, Constellation Brands’ share price has traded steadily higher since then.
As a reminder, in Q3 the maker of Modelo and Corona reported:
a 10% decline in net sales
a 6% decline in EPS
While the results were weak, they still came in ahead of market expectations.
The main drag came from the spirits division, where net sales fell 51%, highlighting the continued weakness in that segment.
For the full year, guidance is expected to be reaffirmed at around $11.30 to $11.60 per share.
How to trade Constellation Brands earnings
On the weekly chart, Constellation Brands fell sharply from above $260 in 2024 to a low of $125 in November last year.
The stock then recovered to a high of $167 in February, before slipping back below the 50-day SMA in March, reinforcing the broader bearish trend.
Sellers will look for a break below $145, the March low, to bring $126 back into focus.
On the upside, buyers would need to reclaim the 50-day SMA at $155 and then rise above $167 to create a higher high and bring $192 back into view — the May 2025 high.
