Delta Air Lines cuts FY23 EPS view to $6.00-$6.25 from $6.00-$7.00

Consensus $6.04. Raises FY23 revenue view to up 20% from up 17%-20%, consensus $54.59B. “Robust demand for travel on Delta is continuing into the December quarter where we expect total revenue growth of 9 percent to 12 percent compared to the December quarter 2022 with total unit revenue (TRASM) expected to decline 2.5 percent to 4.5 percent. Within this outlook, Domestic and Transatlantic trends are consistent with the September quarter on a year-over-year basis, while unit revenue trends in the Pacific and Latin America are expected to modestly decelerate given capacity growth related to China re-opening and investment in our LATAM JV.”