Delta Air Lines

Delta Air Lines is seeing more sectors that had lagged the broader return to corporate travel starting to once again hit the skies, Chief Executive Ed Bastian tells analysts on a conference call. “We’re finally starting to see the tech companies traveling again,” he says. The airline is also seeing a rise in travel from consulting firms, which Bastian says also lagged the broader state of corporate travel last year. The auto sector has also recovered from the labor strikes last year and executives have begun traveling once again, he says, as has the entertainment sector. Shares fall 8% on a bleak profit forecast.

Delta Air Lines released fourth-quarter and full-year 2023 earnings statements Friday, revealing a lower cost of jet fuel for the year despite significantly higher use. Fourth-quarter data did show a small jump in cost over the same quarter in the prior year, however. In the fourth quarter, Delta spent $2.933 billion on fuel and related costs, an almost 3% uptick from the last quarter of 2022 when the airline spent $2.849 billion on fuel. Full-year data, though, showed a lower yearly cost. Over the course of 2023, Delta spent $11.121 billion on fuel, a 2.90% decrease over the full year 2022 figure of $11.453 billion. In terms of total gallons used, however, both fourth-quarter and full-year 2023 levels were much higher than prior years. In the fourth quarter of 2023, Delta used 978 million gallons of fuel. That’s a big 12.54% spike from the fourth quarter in the prior year,

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $48, down $1, is 6.5x our 2025 EPS view (started at $7.41; 2024’s raised to $6.51 from $6.49), below the 2018-2019 forward average of 8.5x. We think a discount is merited due to persistent delays in new aircraft deliveries that are expected to last until 2025. Q4 EPS of $1.28 vs. $1.48 beat consensus by $0.12. Shares were down 9% today due to, in our view, a more conservative outlook on its 2024 EPS forecast vs. prior guidance. Q4 revenues were up 11% Y/Y, driven by its int’l segment (+25%), while capacity grew 15% Y/Y. DAL announced its 2024 guidance, with expected earnings of $6-$7/share (vs. the prior outlook of $7/share) and fuel costs in the range of $2.70/g (vs. $2.82/g in 2023).

Delta Air Lines Announces December Quarter and Full Year 2023 Financial Results PR Newswire ATLANTA, Jan. 12, 2024 Delivered industry-leading operational performance and financial results in December quarter Generated record full year revenue and over $5 billion of pre-tax income, a near doubling over 2022 Guiding to 2024 free cash flow of $3 to $4 billion, an improvement of up to $2 billion over 2023 Expect record March quarter revenue on improving domestic environment and continued strength in international demand, with solid profitability ATLANTA, Jan. 12, 2024 /PRNewswire/ — Delta Air Lines (NYSE: DAL) today reported financial results for the December quarter and full year 2023 and provided its outlook for the March quarter and full year 2024. Highlights of the December quarter and full year 2023, including both GAAP and adjusted metrics, are on page six and incorporated here. “2023 was a great year for Delta with industry-leading operational

Delta 2024 EPS Outlook $6-$7, Expects Free Cash Flow of $3 Billion-$4 Billion.

Delta Air Lines (DAL) reported Q4 adjusted earnings Friday of $1.28 per diluted share, down from $1.48 a year earlier. Analysts polled by Capital IQ expected $1.16. Revenue for the quarter ended Dec. 31 was $14.22 billion compared with $13.43 billion a year earlier. Analysts surveyed by Capital IQ estimated $13.8 billion. For Q1, the company estimated $0.25 to $0.50 in adjusted EPS and 3% to 6% in revenue growth. Analysts polled by Capital IQ expect $0.38 in adjusted EPS on revenue of $12.44 billion. For the full year, Delta Air Lines said it expects $6 to $7 in adjusted EPS. Analysts surveyed by Capital IQ estimate $6.50.

Delta Airlines Inc. (DAL) reported a top- and bottom-line beat with its fourth-quarter results Friday, although the company’s stock was falling 5.1% in premarket trades after Delta delivered lowered earnings guidance. Net income was $2.04 billion, or $3.16 a share, compared with $828 million, or $1.29 a share, in the prior year’s quarter. Adjusted earnings per share, which excludes nonrecurring items, came in at $1.28, compared with $1.48 in the same period last year, and beat the FactSet consensus of $1.16. Revenue was $14.2 billion, a 6% increase from the prior year’s quarter. Adjusted revenue was $13.7 billion, an 11% increase on the same period last year, beating expectations. Analysts surveyed by FactSet were looking for revenue of $13.5 billion. For 2024, Delta expects earnings of $6 to $7 a share, below the target of over $7 a share the company outlined at an investor day in December 2022. -James

Delta Air Lines is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Delta reported a top- and bottom-line beat with its fourth-quarter results. Income was $2.04 billion, or $3.16 a share, compared with $828 million, or $1.29 a share, in the prior year’s quarter. Adjusted earnings per share, which excludes nonrecurring items, came in at $1.28, compared with $1.48 in the same period last year, and beat the FactSet consensus of $1.16. Revenue was $14.2 billion, a 6% increase from the prior year’s quarter. Analysts surveyed by FactSet were looking for revenue of $13.5 billion. Dow Jones & Co. owns Factiva.

Delta Air Lines shares tumble as the airline trims its profit outlook for the year, citing higher costs of wages, inflation, and supply chain snarls. Delta now expects profits this year between $6 and $7 a share–a modest reduction from the more than $7 per share it had previously predicted for 2024. CEO Ed Bastian says on an earnings call that he believes Delta could pull off profits above the upper end of the guidance range, but felt more caution was warranted. Airlines including Delta have struck new contracts with massive pay increases for pilots, and Delta said it also expects higher maintenance costs. Delta shares fall 8% and concerns that the industry remains vulnerable to cost creep dragged shares of other carriers down as well, with American Airlines and United Airlines also off sharply.

Delta Air Lines (NYSE:DAL) is set to give its latest quarterly earnings report on Friday, 2024-01-12. Here’s what investors need to know before the announcement. Analysts estimate that Delta Air Lines will report an earnings per share (EPS) of $1.16. Delta Air Lines bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Delta Air Lines’ (DAL) Q4 earnings are expected to be $1.16 per share, close to the midpoint of the company’s outlook of $1.05 to $1.30, BofA Securities said Monday in a note. The company is set to release results on Friday. For Q1, BofA expects Delta’s EPS to be $0.57, higher than the consensus of $0.33. For full-year 2024, BofA increased its EPS forecast for Delta to $6.26 from its previous projection of $6.09 as the firm now expects 2024 fuel cost per gallon to be $2.61 “given lower fuel costs over the last six weeks of 2023.” BofA reiterated Delta’s buy rating and $50 price objective.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $49, up $4, is 7.6x our ’24 EPS view (unchanged at $6.49; 2023’s remains at $6.05), a discount to DAL’s historical average. We think a discount is merited due to rising unit costs. In mid-Dec., DAL reiterated its Q4 outlook, with revenues expected to grow by 11% Y/Y ($13.6B vs. $12.3B in Q4 ’22), EPS to be in the range of $1.05-$1.30, while expecting fuel costs of $3.05/gallon at the midpoint (4% discount vs. its legacy peers Q4 outlook) due to its wholly owned refinery, which we view as positive. Demand remains resilient despite the higher-than-expected slowdown experienced in Q3 ’23, with domestic demand up ~10% Y/Y and int’l travel up 27% (per the most recent Bureau of Transportation Statistics data as of