Delta Air Lines Provides Upbeat FY23 Guidance As Travel Demand Remains Robust

Delta Air Lines Inc DAL sees FY22 revenue of $45.5 billion - $45.6 billion versus the Street view of $45.54 billion.

• It expects FY22 adjusted EPS of $3.07 - $3.12 against the consensus of $2.89.
• For Q4 FY22, Delta sees revenue growth of 7% - 8% versus the previous outlook of 5% - 9%.
• The company raised Q4 EPS guidance to $1.35 - $1.40 (consensus $1.15) from the previously expected $1.00 - $1.25.
• The airline carrier expects FY23 revenue to increase 15% – 20% and adjusted EPS of $5 - $6 versus an estimate of $4.80.
• The company expects to generate more than $2 billion of free cash flow in 2023, enabling further debt reduction.
• Delta reiterated its 2024 targets, including earning over $7 per share and strengthening the balance sheet to return to investment grade metrics.
• "Demand for air travel remains robust as we exit the year and Delta's momentum is building," said CEO Ed Bastian.
• Also Read: Morgan Stanley Bullish On Airline Stocks, Names Southwest, Delta Top Picks For 2023
• Price Action: DAL shares are trading higher by 3.89% at $34.68 in premarket on the last check Wednesday.
• Photo Via Wikimedia Commons