“Our revenues and earnings EPS were all in line with the guidance that we presented at the start of the quarter,” Bastian remarked. “So given all the uncertainty and some of the volatility that we see and what seasonally is our weakest quarter of the year, we were quite pleased and thought it was a real solid performance.”

For Q1 of 2023, the major U.S. airline posted an adjusted net income of $163 million, falling short of the $184.31 million expected from consensus estimates compiled by Bloomberg. This translated to earnings per share of $0.25 compared to an expected $0.29 per share. Revenue for the period was $11.84 billion, lower than an expected $11.99 billion.

Shares in the company rose by 4% in premarket trading on Thursday.

The post Delta CEO Satisfied With Quarterly Results Despite Missing Estimates appeared first on theprimarymarket.com.

Although the fourth quarter saw a stark rise in travel demand during the busy holiday season, the U.S. carrier acknowledged that its rising expenses would impact its profit margins, still, Delta’s profit for December exceeded expectations. While the company forecast a profit of $1.33 per share for the month, Delta’s profit came to $1.48 per share, with the airline’s adjusted revenue standing at $12.3 billion for the year.

U.S. airlines are expecting a strong financial performance going into the new year as consumer demand shows several signs of growth, including a strengthening dollar, the reopening of international borders following the end of the pandemic, and a rise in business travel.

“As we move into 2023, the industry backdrop for air travel remains favorable and Delta is well positioned to deliver significant earnings and free cash flow growth,” Delta Air Lines CEO Ed Bastian stated.

Delta expects consumers to spend $30 billion on travel this year, with no sign of travel slowdowns in sight.

The post Delta Beats Profit Estimate as Travel Industry Rebounds appeared first on theprimarymarket.com.

“Our revenues and earnings EPS were all in line with the guidance that we presented at the start of the quarter,” Bastian remarked. “So given all the uncertainty and some of the volatility that we see and what seasonally is our weakest quarter of the year, we were quite pleased and thought it was a real solid performance.”

For Q1 of 2023, the major U.S. airline posted an adjusted net income of $163 million, falling short of the $184.31 million expected from consensus estimates compiled by Bloomberg. This translated to earnings per share of $0.25 compared to an expected $0.29 per share. Revenue for the period was $11.84 billion, lower than an expected $11.99 billion.

Shares in the company rose by 4% in premarket trading on Thursday.

The post Delta CEO Satisfied With Quarterly Results Despite Missing Estimates appeared first on theprimarymarket.com.

Although the fourth quarter saw a stark rise in travel demand during the busy holiday season, the U.S. carrier acknowledged that its rising expenses would impact its profit margins, still, Delta’s profit for December exceeded expectations. While the company forecast a profit of $1.33 per share for the month, Delta’s profit came to $1.48 per share, with the airline’s adjusted revenue standing at $12.3 billion for the year.

U.S. airlines are expecting a strong financial performance going into the new year as consumer demand shows several signs of growth, including a strengthening dollar, the reopening of international borders following the end of the pandemic, and a rise in business travel.

“As we move into 2023, the industry backdrop for air travel remains favorable and Delta is well positioned to deliver significant earnings and free cash flow growth,” Delta Air Lines CEO Ed Bastian stated.

Delta expects consumers to spend $30 billion on travel this year, with no sign of travel slowdowns in sight.

The post Delta Beats Profit Estimate as Travel Industry Rebounds appeared first on theprimarymarket.com.