Delta Air Lines, Inc. DAL shares are trading lower by 2.19% to $46.44 Tuesday afternoon. Shares of airline stocks are trading lower in sympathy with Alaska Air, which fell after reporting second-quarter earnings and guiding 0-3% topline growth in the third quarter.
What Happened?
Alaska Air shares declined by 9.22% on Tuesday following the company's less optimistic outlook, projecting 0%-3% topline growth for the third quarter.
In the second quarter of FY23, ALK reported a 7% year-over-year increase in operating revenue, reaching $2.84 billion, surpassing the consensus estimate of $2.77 billion. Passenger revenues also showed improvement, growing by 7% Y/Y to $2.6 billion.
Adjusted EPS for the quarter was $3.00, outperforming the previous year's $2.19 in 2Q22, and exceeding the consensus of $2.70.
Moreover, the company achieved adjusted pre-tax margins of 18.3%, a 250 basis points improvement compared to 2Q19...Read More
According to data from Benzinga Pro, DAL has a 52-week high of $49.81 and a 52-week low of $27.20.
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