Consumer Discretionary

BofA Securities analyst Andrew G. Didora reiterated a Buy rating on the shares of Delta Air Lines Inc (NYSE:DAL) and raised the price target from $53 to $55. Yesterday, Delta reported a first-quarter 2024 operating revenue growth of 8% year-over-year to $13.748 billion, and the adjusted EPS was $0.45, above the consensus of $0.36. Both the unit revenue and unit cost outlooks were about 100 basis points better than the analyst modeled, which drove the EPS upside. The analyst thinks there were more pros than cons in DAL’s outlook, giving the confidence to raise 2024E EPS to $6.81 from $6.57. DAL’s demand commentary was better than feared, as transatlantic and premium products remain robust, each a revenue tailwind offsetting pressure from Latin America, noted the analyst. The analyst estimates 2Q24 capacity growth of +6.9%, the high end of DAL’s +6%-7% range, and unit revenue growth of -90 basis points, in line with DAL’s […]

Delta Air Lines’ (DAL) slightly better metrics in Q1 have driven better-than-expected Q2 earnings-per-share guidance, BofA Securities said in an emailed note to clients Thursday. Delta on Wednesday reported higher Q1 adjusted EPS and revenue that beat analysts’ estimates and initiated Q2 EPS guidance of $2.20 to $2.50, exceeding BofA’s estimate of $2.12. The company’s outlook prompted BofA to raise its 2024 EPS estimate to $6.81 from $6.57, according to the note. The company’s “better unit costs [for Q2] are encouraging and reflect solid operations and an increasing focus on efficiency,” BofA said. The investment firm raised the airline’s price objective to $55 from $53 and reiterated its buy rating.

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