Delta Air Lines

Delta Air Lines Announces March Quarter 2024 Financial Results PR Newswire ATLANTA, April 10, 2024 Delivered industry-leading operational performance, record March quarter completion factor March quarter revenue and earnings at the high end of guidance Expect record June quarter revenue, mid-teens operating margin, and EPS of $2.20 to $2.50 Reiterating 2024 outlook for EPS of $6 to $7 and free cash flow of $3 to $4 billion ATLANTA, April 10, 2024 /PRNewswire/ — Delta Air Lines (NYSE: DAL) today reported financial results for the March quarter and provided its outlook for the June quarter. Highlights of the March quarter, including both GAAP and adjusted metrics, are on page five and incorporated here. “Thanks to the extraordinary work of our 100,000 people, Delta is delivering the best operational reliability in our history, and we have widened the gap to our competitors. We were thrilled to recognize their efforts with $1.4 billion […]

Delta Air Lines (NYSE:DAL) reported quarterly Adj earnings of $0.45 per share which beat the analyst consensus estimate of $0.36 by 25 percent. This is a 80 percent increase over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $13.75 billion which beat the analyst consensus estimate of $12.57 billion by 9.39 percent. This is a 7.75 percent increase over sales of $12.76 billion the same period last year.

By Alison Sider Delta Air Lines said it expects strong summer travel demand as the carrier posted a better-than-expected profit for the first three months of the year. While other airlines are being stymied by delayed deliveries from Boeing, Delta hadnt been planning to receive any of the manufacturer’s jets this year. Delta Chief Executive Ed Bastian said that while the arrival of new 737 MAX 10 jets that the airline ordered in 2022 is likely shifting, deliveries from rival planemaker Airbus have been reliablesomething Bastian said has given Delta an advantage. Bastian said he wasnt among the cadre of airline CEOs that sought to meet with Boeings board last month, an unusual move that expressed their dissatisfaction with the company and its CEO. Bastian hadnt attended a trade group meeting where it was discussed, he said. Were not sitting waiting for Boeing. I think the other airlines are without

By Callum Keown Delta Air Lines beat earnings expectations in the first quarter and offered upbeat guidance as it flagged continuing strong travel demand. The stock jumped 4.1% ahead of the open Wednesday. The airline reported adjusted earnings per share (EPS) of 45 cents on revenue of $12.6 billion — record first-quarter revenue. Wall Street was expecting earnings of 36 cents per share on revenue of $12.5 billion, according to FactSet estimates. Its second-quarter outlook for EPS of between $2.20 and $2.50 came in above the analysts’ consensus of $2.22. International travel remains strong, while corporate travel demand is accelerating, Delta noted. That’s good news for other large-network airlines — United Airlines stock rose 3.4% and American Airlines was up 2.7% ahead of the open. It’s also a reason to believe Delta can keep outperforming. Despite the earnings beat and impressive guidance, Delta stuck to its full-year outlook for EPS

Delta Air Lines Exec Says “Looks Like Industry Capacity Is Reaching A Peak In 2q. So I Think We See A Great Setup For The Back Half Of This Year”; “We Still Have More Debt Than We’re Comfortable With”.

Delta Air Lines Exec Says On Wide Body Jets, Says Co Is Now At Or Above 2019 In Terms Of Annual Utilization.

The following is a summary of the Delta Air Lines, Inc. (DAL) Q1 2024 Earnings Call Transcript: Financial Performance: Delta reported pre-tax earnings of $380 million, a $0.20 improvement from the previous year, and a 6% higher revenue for Q1. Free cash flow was recorded at $1.4 billion, and the return on invested capital was nearly 14%. Delta distributed $1.4 billion amongst its employees in terms of profit-sharing. For the June quarter, Delta expects a revenue growth of 5% – 7%, earnings between $2.20 to $2.50 per share, and a target of mid-teens operating margin. In a bid to reduce its financial risk, Delta plans on reducing its debt, which is currently larger than what the company feels comfortable with. Both the upcoming Paris Olympics and struggles with American Express card acceptance rates in Europe may affect revenue projection. Business Progress: Delta delivered strong operational performance with mainline cancellations down

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $55, up $7, is 7.7x our ’25 EPS view (down to $7.16 from $7.41; ’24’s cut to $6.15 from $6.51), below DAL’s historical average. We think a discount is merited due to ongoing issues with Boeing (BA 173 **), causing further delays in new aircraft deliveries for DAL (expected deliveries of 20 737 MAX 10 variants in ’25, now likely delayed to ’27, per DAL). Q1 EPS of $0.45 vs. $0.25, beat consensus by $0.08. Q1 revenues were up 8% Y/Y, driven by its international segment (+12%), while capacity grew 7% Y/Y. DAL reiterated its ’24 outlook (EPS in the range of $6-$7/share; FCF in the range of $3B-$4B). The EIA forecasts WTI to average $84/b in ’24 vs. $78/b in ’23; DAL

B of A Securities analyst Andrew Didora maintains Delta Air Lines (NYSE:DAL) with a Buy and raises the price target from $50 to $53.

By Callum Keown Things are about to start looking up for U.S. airlines and investors should consider buying four stocks in particular — Delta Air Lines, American Airlines, Southwest Airlines, and Alaska Air Group. That’s the view of UBS analysts as they initiated coverage of the airline sector in a note late Tuesday. They see the intense cost pressures facing the industry beginning to moderate later in the year and margins moving higher in late 2024 and into 2025. “The market will recalibrate its 2025 profit estimates higher as there is growing evidence of cost pressures bottoming later this year and unit revenues (revenue per available seat mile) increasing from here,” analysts led by Atul Maheswari wrote. “Plus, demand is likely to hold firm amid a stable economic backdrop and a return of business travel,” they added. But those factors will only drive select airline stocks higher, the analysts noted

Delta Reaffirmed Outlook Ahead Of Presentation At J.P. Morgan Industrials Conference: Sees FY24 EPS $6-$7, Sees Q1 EPS $0.25-$0.50.

Delta Air Lines CEO Says Travel Demand Is Strong, Says Corporate Travel Is Returning; Says Have Had 9 Of The Top 10 Sales Days In Our History All Within The Last 10 Weeks.