Delta’s share price rises after adjusted profits and earnings exceed expectations

Date:

Delta Air Lines Stock
DAL,
-1.50%

Earnings rose 2.1% in pre-market trading on Thursday after airlines reported higher-than-expected adjusted earnings and earnings in the fourth quarter as December earnings recovered to nearly 80% of 2019 levels. .. Prior to the pandemic, net income for the same period in 2019 was $ 408 million (64 cents per share), while net income was $ 1.1 billion ($ 1.71 per share). Excluding non-recurring items, adjusted earnings per share exceeded 22 cents. 14 cents FactSet consensus. Revenue of $ 9.47 billion was down 17% from 2019, but surpassed FactSet’s consensus of $ 9.02 billion. Load factor dropped from 86% in 2019 to 78%, missing the FactSet consensus of 83.7%. According to the company, the Omicron variant of the coronavirus that causes COVID-19 had a major impact on staffing and disrupted travel, but Delta’s operations stabilized last week and returned to pre-vacation performance. .. “The recent increase in COVID cases associated with the Omicron variant is expected to affect the pace of initial demand recovery. [first] President Glenn Hauenstein said, “Reflecting this in the outlook, we expect total sales in the March quarter to recover to 72-76% of 2019 levels, but to 74% in December. We anticipate that while the US Global Jet ETF is an ETF, inventory has fallen 1.0% in the last three months to Wednesday.
Jets,
-0.90%

Losing 5.8%, S & P 500
SPX,
+ 0.28%

It increased by 8.3%.

Delta’s share price rises after adjusted profits and earnings exceed expectations

Source link Delta’s share price rises after adjusted profits and earnings exceed expectations

The post Delta’s share price rises after adjusted profits and earnings exceed expectations appeared first on Eminetra.

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