Delta Air Lines Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Delta Air Lines, Inc. (NYSE:DAL) reported better-than-expected Q1 2024 earnings with an 8% YoY operating revenue growth to $13.748 billion and an adjusted EPS of 45 cents, surpassing consensus estimates. The company anticipates repaying at least $4 billion of debt this year, with credit rating improvements recognized by Moody’s and Fitch. For Q2, Delta expects a revenue growth of 5%-7% and an EPS of $2.20-$2.50. Analysts from Deutsche Bank, B of A Securities, and Susquehanna have raised their price targets on Delta Air following the earnings announcement. Despite the positive report, Delta Air shares fell 2.3% to close at $46.24.
April 11, 2024 | 1:26 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Delta Air Lines reported strong Q1 2024 earnings, surpassing consensus estimates with an 8% revenue growth and an adjusted EPS of 45 cents. Analysts have raised their price targets, reflecting optimism in Delta's financial health and growth prospects.
Delta Air Lines' better-than-expected earnings and positive future revenue and EPS guidance, coupled with debt repayment plans and credit rating improvements, signal strong financial health and growth prospects. Analysts' raised price targets further support this positive outlook. However, the short-term stock price drop may reflect market volatility or profit-taking rather than a negative view on the company's fundamentals.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100