Delta Airlines Inc. Reports Strong Fourth-Quarter Results

by webmaster

Delta Airlines Inc. (DAL) has announced its fourth-quarter results, exceeding expectations with both its top and bottom lines. However, the company’s stock is experiencing a slight decline of 5.1% in premarket trades due to Delta’s revised earnings guidance.

Strong Financial Performance

In the fourth quarter, Delta Airlines reported a net income of $2.04 billion, or $3.16 per share, compared to $828 million, or $1.29 per share, in the same period last year. Adjusted earnings per share, which exclude nonrecurring items, were $1.28, surpassing the FactSet consensus of $1.16. Overall revenue reached $14.2 billion, reflecting a 6% increase from the previous year.

Beating Expectations

Delta Airlines also exceeded expectations in terms of adjusted revenue for the quarter. With a figure of $13.7 billion, there was an impressive 11% increase compared to the same period last year. Analysts surveyed by FactSet had forecasted revenue of $13.5 billion.

Earnings Outlook

Looking ahead to 2024, Delta Airlines forecasts earnings of $6 to $7 per share. Although this falls short of the initially outlined target of over $7 per share during the investor day held in December 2022, it still demonstrates strong projected profitability for the coming years.

Delta Airlines Inc. continues to reaffirm its position as a leading player in the aviation industry despite ongoing challenges and revised earnings guidance.

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