Delta Air Lines Sets Growth Trajectory, Prioritizes Debt Reduction After Strong Q1
Portfolio Pulse from Akanksha Bakshi
Delta Air Lines Inc (DAL) shares rose ~4% in premarket trading after reporting strong Q1 2024 results, with an 8% YoY increase in operating revenue to $13.748 billion and adjusted EPS of $0.45, surpassing consensus estimates. The company also highlighted a decrease in adjusted average fuel price by 10% YoY and a commitment to debt reduction, planning to repay at least $4 billion this year. Delta expects Q2 2024 revenue growth of 5%-7% and reiterates its 2024 outlook with an EPS of $6-$7.
April 10, 2024 | 11:38 am
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Delta Air Lines Inc reported strong Q1 2024 results with an 8% YoY increase in operating revenue and an adjusted EPS of $0.45, surpassing consensus estimates. Shares rose ~4% in premarket trading. The company plans to repay at least $4 billion in debt this year and expects Q2 2024 revenue growth of 5%-7%.
Delta's strong Q1 2024 performance, exceeding consensus estimates, and its commitment to significant debt reduction positively impact investor sentiment. The positive outlook for Q2 2024 further supports the potential for stock price appreciation in the short term.
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IMPORTANCE 90
RELEVANCE 100