Delta Air Lines Shares Gain on Q1 Beat & Strong Guidance

Delta Air Lines (NYSE:DAL) reported earnings for the first quarter that outperformed analyst forecasts, driven by robust demand and strong operational efficiency. The airline’s stock rose by 3% intra-day today, with Delta also predicting record-breaking revenue for the upcoming June quarter.
In the first quarter, Delta achieved an adjusted earnings per share (EPS) of $0.45, surpassing the analyst consensus of $0.34. Revenue for the quarter was $12.6 billion, exceeding the anticipated $12.46 billion and reflecting a 6% year-over-year increase.
Delta anticipates maintaining its momentum into the June quarter, expecting to achieve record revenue alongside a mid-teens operating margin. The airline forecasts an EPS of between $2.20 and $2.50 for the June quarter, with the midpoint estimate of $2.35 exceeding the analyst consensus of $2.25. For the entire year of 2024, Delta maintained its EPS forecast range of $6.00 to $7.00, compared to a consensus of $6.46.

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