Delta Air Lines (NYSE: DAL) was up in pre-market trading at the time of writing on Thursday after the airliner reported calendar second quarter results with adjusted earnings of $2.68 per share, a jump of 86% year-over-year and surpassing consensus estimates of $2.40 per share.
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DAL posted adjusted operating revenues of $14.6 billion, up by 19% year-over-year versus consensus estimates of $14.4 billion.
Looking forward, the management has raised its FY23 earnings outlook and expects it in the range of $6 to $7 per share, and revenues are projected to rise between 17% and 20% year-over-year. In Q3, DAL has projected earnings between $2.20 and $2.50 per share while revenues are likely to rise between 11% and 14%.
Glen Hauenstein, Delta’s President commented, “Robust demand is continuing into the September quarter where we expect total revenue to be similar to the June quarter, up 11 percent to 14 percent compared to the September quarter 2022 on capacity that is 16 percent higher.”
Analysts are bullish about DAL stock with a Strong Buy consensus rating based on a unanimous 15 Buys.
