Delta Air Lines rallies after solid earnings
Barry Davis
Owner of HoTstocks.NYC with 59Years Experince, Most similar to Cramer on Wall Street
Delta Air Lines (NYSE:DAL) edges past estimates with its Q1 report.
Revenue passenger miles increased 0.5% to 47.952B during the quarter, while capacity fell 0.5% to 57.871B available seat miles. Load factor +80 bps to 82.9%.
Passenger revenue per available seat mile was down 0.5% during the quarter. Total revenue was down 1% to $7.69B.
Delta paid an avergae fuel price of $1.62 per gallon vs. $1.50 a year ago. "We expect the entirety of our 2017 margin pressure to have occurred in the March quarter from higher fuel prices," notes CFO Paul Jacobsen.
Looking ahead, Delta expects Q2 passenger revenue per available seat mile to increase 1% to 2% and operating margin to fall in a range of +17% to +19%. System capacity is seen flat to +1% for the quarter.
Previously: Delta Air Lines beats by $0.04, misses on revenue (April 12)
DAL +2.56% premarket to $46.45.