Delta Air Lines expects record revenue in Q3 but falls short of estimates, leading to 8% stock drop.

From CNBC: 2024-07-11 09:44:47

Delta Air Lines projected record revenue for the third quarter due to strong summer travel demand but fell short of analysts’ estimates, expecting only up to 4% sales growth and EPS of $1.70 to $2, resulting in an 8% drop in shares. Rival United Airlines aims to match Delta’s profitability by adding more premium seats. Delta reported adjusted revenue of $15.4 billion in the second quarter, slightly below estimates, with net income down 30%. CEO Ed Bastian cited lower fare discounting and easing inflation. Delta expects to grow flying capacity 5-6% this quarter and maintains full-year earnings forecast of $6 to $7 a share, still expecting up to $4 billion in free cash flow.



Read more at CNBC: Delta Air Lines (DAL) earnings Q2 2024