Why Delta Air Lines Stock Is Shooting Higher Today
Portfolio Pulse from Lekha Gupta
Delta Air Lines Inc (NYSE:DAL) reported a Q3 FY23 adjusted operating revenue growth of 13% Y/Y to $14.55 billion, beating the consensus of $14.54 billion. Total passenger revenue was $13.1 billion, a 14% increase Y/Y. Adjusted EPS was $2.03, above the consensus of $1.94. For Q4, Delta expects revenue growth of 9% - 12%, adjusted EPS of $1.05 - $1.30 versus $1.11 estimate. FY23 Outlook was revised with adjusted EPS to $6.00 - $6.25 (prior $6-$7) versus $6.04 estimate. DAL shares are trading higher by 3.17% at $37.12 premarket.
October 12, 2023 | 1:04 pm
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POSITIVE IMPACT
Delta Air Lines reported strong Q3 FY23 results, beating revenue and EPS consensus. The company also provided a positive Q4 outlook. However, the FY23 EPS outlook was revised downwards. DAL shares are trading higher premarket.
Delta's strong Q3 results and positive Q4 outlook are likely to boost investor confidence, leading to a short-term increase in the stock price. However, the downward revision of the FY23 EPS outlook might temper this positive sentiment to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100