Delta Airlines Inc DAL Shares are trading higher Thursday morning after the company announced its third-quarter financial results.
Delta Air Lines reported revenue of $12.8 billion in the third quarter, missing the median analyst estimate of $12.91 billion Gasoline Pro. The company reported quarterly earnings of $1.51 per share, which missed the median analyst estimate of $1.53 per share.
“The travel recovery continues as consumer spending shifts to experiences and corporate and international demand improves. In this environment, we expect revenue growth to accelerate in the December quarter versus 2019 with an operating margin of approximately 10 percent,” he said Ed BastianDelta CEO.
Delta expects fourth-quarter revenue to increase 5% to 9% compared to the fourth quarter of 2019. Earnings per share are expected to be between $1 and $1.25 for the next quarter.
“We are working toward a full network recovery by Summer 2023, which will support meaningful increases in profitability and cash flow over the next year on our journey, exceeding $7 in EPS and $4 billion in free cash flow in 2024 to earn,” said Bastian.
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DAL Price Action: Delta has a 52-week high of $46.27 and a 52-week low of $27.20.
Shares rose 2.09% to $29.82 on Thursday morning Gasoline Pro.
Photo: courtesy of Delta Air Lines.
