Delta forecast revenue growth and adjusted profit for the second quarter that were ahead of analysts' estimates.
for the first three months of the year but forecast revenue growth and profits for the second quarter that were ahead of analysts' estimates, signaling strong travel demand despite weakness in other sectors.
The Atlanta-based carrier said it expects sales in the current quarter to increase by 15% to 17% over last year, with adjusted operating margins of as much as 16% and adjusted earnings per share of between $2 to $2.25. Analysts polled by Refinitiv had anticipated second-quarter revenue growth of 14.7% and earnings per share of $1.66. The airline projected "record advance bookings for the summer.
U.S. carriers generally make the bulk of their revenue during the busy spring and summer travel season and Delta's outlook points to more strength in travel demand, and strong pricing power. The airline said sales from premium cabins like first class is outpacing revenue from standard coach.In the first quarter, Delta posted a net loss of $363 million, or 57 cents per share, citing, in part, athat includes 34% raises. That's still improvement from the year-ago period, when travel was on the rebound and the company reported a net loss of $940 million, or $1.48 per share.
Adjusting for one-time items, the company reported net income of $163 million, or 25 cents per share, up from a loss of $748 million, or $1.23 per share, during the first quarter of 2022.
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