Delta Air Lines (DAL) swung to a profit and announced record sales for this year’s first quarter as global travel demand continues to strengthen.
The Atlanta-based carrier reported earnings per share (EPS) of $0.45 U.S. versus $0.36 U.S. that was expected among analysts who track the company’s progress.
Revenue in the January through March quarter totaled $12.56 billion U.S., slightly below Wall Street forecasts of $12.59 billion U.S. but a record for the first quarter of any year.
Delta said in releasing its latest financial results that it is benefitting from strong bookings for both leisure and business travel.
In terms of forward guidance, Delta has forecast second-quarter earnings of $2.20 U.S. to $2.50 U.S. per share, which is ahead of analysts’ forecast of $2.23 U.S. per share, according to data from LSEG.
For all of this year, Delta reiterated its full year forecast for $6 U.S. to $7 U.S. a share in earnings and free cash flow of $3 billion U.S. to $4 billion U.S.
Delta Air Lines’ stock is up 5% in pre-market trading on news of the company’s latest earnings print.
Prior to today (April 10), Delta’s stock had risen 39% over the past 12 months to trade at $47.32 U.S. per share.
