Delta Air Lines gained 4% after a big win in expectations

Delta Air Lines gained 4% after a big win in expectations

Written by Sinad Karahimetovic

Shares of Delta Air Lines (NYSE:) rose more than 4% after the company reported third-quarter results and provided guidance for the fourth.

Delta provided an adjusted $1.51 on adjusted revenue of $12.84 billion. That’s below the consensus of $1.55 on revenue of $12.91 billion. Passenger load factor was 87%, better than expected 86.2%. Revenue passenger mile (RPM) also exceeded expectations.

Delta had a strong quarter in September with record quarterly revenue and double-digit operating margin. โ€œThe travel revival continues as consumer spending shifts to experiences and demand improves in businesses and internationals,โ€ said Ed Bastian, CEO of Delta.

The company sees Q4 EPS between $1.00 and $1.25, much better than the consensus of $0.98. Revenues are expected to increase 5-9% compared to the fourth quarter of 2019.

Vital Knowledge analysts commented that DAL’s better-than-fear earnings helped the broader market sentiment in Thursday’s pre-open trading.

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