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Shares of Delta Air Lines (NYSE:DAL) are up over 4% after the company reported Q3 results and offered Q4 guidance.
Delta delivered an adjusted EPS of $1.51 on adjusted revenue of $12.84 billion. This is lower than the consensus of $1.55 on revenue of $12.91 billion. The passenger load factor was 87%, better than the 86.2% expected. A revenue passenger mile (RPM) also beat expectations.
“Delta delivered a strong September quarter with record quarterly revenues and a double-digit operating margin. The travel recovery continues as consumer spend shifts to experiences and demand improves in corporate and international,” said Ed Bastian, Delta’s chief executive officer.
The company sees Q4 EPS between $1.00 and $1.25, much better than the consensus of $0.98. Revenue is seen up 5-9% compared to Q4 2019.
Vital Knowledge analysts commented that DAL’s better-than-feared earnings have helped broader market sentiment in Thursday’s pre-open trading.
