Why Delta Airlines Stock Is Flying High Today: 'Demand For Air Travel Remains Robust'

Delta Air Lines Inc DAL shares are trading higher Wednesday after the company increased its 2022 outlook and introduced guidance for 2023. 

What Happened: Delta is set to highlight its financial outlook and strategic priorities at an investor event in New York on Wednesday. The company updated its guidance in connection with the investor presentation.

Delta expects full-year 2022 revenue to be between $45.5 billion and $45.6 billion versus average analyst estimates of $45.54 billion. The company expects 2022 adjusted earnings to be between $3.07 and $3.12 per share versus estimates of $2.89 per share.

Delta also raised its December quarter earnings outlook from a range of $1 to $1.25 per share to a range of $1.35 to $1.40 per share.

"Demand for air travel remains robust as we exit the year and Delta's momentum is building," said Ed Bastian, CEO of Delta.

For full-year 2023, Delta expects revenue growth in a range of 15% to 20%. The airline sees 2023 earnings between $5 and $6 per share versus estimates of $4.80 per share. 2024 earnings are expected to be at least $7 per share. 

See Also: Roll Out The Landing Gear, United Airlines Stock Is Diving: What's Going On?

DAL Price Action: Delta has a 52-week high of $46.27 and a 52-week low of $27.20.

The stock was up 3.8% at $34.65 at time of publication, according to Benzinga Pro.

Photo: courtesy of Delta Air Lines.