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Delta Air Lines Raises Earnings Guidance on Strong Demand, Premium Tickets

Null Photo | Null Photo | Getty Images

delta airlines The company on Tuesday forecast second-quarter and full-year adjusted earnings of $6 per share as strong travel demand and trade-ups to higher fare classes continue to drive growth, up from last year’s. It raised the upper limit of its forecast given in April.

Delta expects second-quarter adjusted earnings per share of $2.25 to $2.50, up from its previous range of $2 to $2.25 per share. Chief Executive Officer Ed Bastian said next month’s second-quarter earnings could be the best ever for the April-June quarter.

“You know, demand is outside the chain, as anyone who travels knows,” Bastian said in an interview with CNBC. “Squawk Box”.

In an investor presentation on Tuesday, the airline also raised its free cash generation estimate for this year to $3 billion from $2 billion. Delta Air Lines reinstated its quarterly dividend earlier this month.

Delta Air Lines and its rivals report strong travel demand, especially for international travel, Other fields It has struggled as consumers have faced inflation and other challenges. The aviation industry is also facing growth constraints due to shortages of air traffic controllers and delays in air traffic control. new aircraft There is also a shortage of new pilots, which contributes to stable fares.

But in addition to strong demand, airlines are also benefiting from jet fuel prices down about 30% from a year ago.

And Delta Air Lines forecast Tuesday that its revenue per available mile — a measure of how much revenue an airline makes by flying how many flights — will rise by up to 18% year-over-year, compared to the previous Up from 15% forecast. 17% growth.

The company has repeatedly touted the willingness of its customers to buy seats ranging from extra legroom to first class to more expensive seats. Premium revenue this year was about $19 billion, or 35% of total revenue, up from 24% in 2014.

The company also said its lucrative partnership with American Express Credit Card continues to grow, generating an estimated $6.5 billion this year compared to $4 billion in 2019.

Delta shares were up more than 6% in Tuesday afternoon trading.

Summarize this content to 100 words Null Photo | Null Photo | Getty Imagesdelta airlines The company on Tuesday forecast second-quarter and full-year adjusted earnings of $6 per share as strong travel demand and trade-ups to higher fare classes continue to drive growth, up from last year’s. It raised the upper limit of its forecast given in April.Delta expects second-quarter adjusted earnings per share of $2.25 to $2.50, up from its previous range of $2 to $2.25 per share. Chief Executive Officer Ed Bastian said next month’s second-quarter earnings could be the best ever for the April-June quarter.”You know, demand is outside the chain, as anyone who travels knows,” Bastian said in an interview with CNBC. “Squawk Box”.In an investor presentation on Tuesday, the airline also raised its free cash generation estimate for this year to $3 billion from $2 billion. Delta Air Lines reinstated its quarterly dividend earlier this month.Delta Air Lines and its rivals report strong travel demand, especially for international travel, Other fields It has struggled as consumers have faced inflation and other challenges. The aviation industry is also facing growth constraints due to shortages of air traffic controllers and delays in air traffic control. new aircraft There is also a shortage of new pilots, which contributes to stable fares.But in addition to strong demand, airlines are also benefiting from jet fuel prices down about 30% from a year ago.And Delta Air Lines forecast Tuesday that its revenue per available mile — a measure of how much revenue an airline makes by flying how many flights — will rise by up to 18% year-over-year, compared to the previous Up from 15% forecast. 17% growth.The company has repeatedly touted the willingness of its customers to buy seats ranging from extra legroom to first class to more expensive seats. Premium revenue this year was about $19 billion, or 35% of total revenue, up from 24% in 2014.The company also said its lucrative partnership with American Express Credit Card continues to grow, generating an estimated $6.5 billion this year compared to $4 billion in 2019.Delta shares were up more than 6% in Tuesday afternoon trading.
https://www.cnbc.com/2023/06/27/delta-air-lines-2023-guidance-investor-day.html Delta Air Lines Raises Earnings Guidance on Strong Demand, Premium Tickets

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