What's Going On With Delta Air Lines Stock Today?

Delta Air Lines Inc DAL shares are trading higher Thursday morning after the company announced its third-quarter financial results.

Delta Air Lines reported third-quarter revenue of $12.8 billion, which missed average analyst estimates of $12.91 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.51 per share, which missed average analyst estimates of $1.53 per share.

"The travel recovery continues as consumer spend shifts to experiences and demand improves in corporate and international. In this environment, we expect December quarter revenue growth to accelerate versus 2019 with an operating margin of approximately 10 percent," said Ed Bastian, CEO of Delta. 

Delta said it expects fourth-quarter revenue to be up 5% to 9% compared to the fourth quarter of 2019. Earnings are expected to come in between $1 and $1.25 per share next quarter.

"We're working towards full network restoration by summer of 2023, which supports a meaningful step up in profitability and cash flow next year on our path to earn over $7 of EPS and $4 billion of free cash flow in 2024," Bastian said.

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

The stock was up 2.09% at $29.82 Thursday morning, according to Benzinga Pro.

Photo: courtesy of Delta Air Lines.