Delta Air Lines (NYSE:DAL) inched 0.37% lower on Thursday, ahead of its scheduled quarterly results on January 12th, with investors looking out for commentary on the demand outlook for months to come, and a potential order for Airbus (OTCPK:EADSY) wide-body jets.
The major U.S. carrier, last month, reaffirmed its earnings for the fourth quarter, banking on the unwavering demand for international travel after years of pandemic-related restrictions.
In the backdrop of the December holiday season, airline booking trends saw an uptick in sales. Bank of America highlighted that system net sales rose +10.7% for the week ending December 3 in the strongest data point since mid-August, and ahead of the flat four-week average.
Not only this, AAA also forecasted 7.5M travelers to take to the skies, exceeding 2019’s record of 7.3M for the season.
Currently, Delta is projecting its Q4 EPS to land in a range of $1.05 to $1.30, while revenue is expected to be 9% to 12% higher. For the full year, Delta saw revenue growth of up to 20%, an operating margin of around 11.5%, and EPS of $6.00 to $6.25.
However, on consensus, quarterly EPS is estimated to be $1.16 (-21.6% Y/Y) and the consensus revenue estimate is $13.8B (+2.7% Y/Y).
Additionally, Delta Air Lines is poised to receive dozens of jets from Airbus, including the A350-1000 aircraft. According to Reuters, the deal could be made public on Friday when the carrier announces its quarterly results.
Over the last 2 years, DAL has beaten EPS estimates 63% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 10 upward revisions and 5 downward. Revenue estimates have seen 1 upward revision and 2 downward.
Eyeing the upcoming earnings, Seeking Alpha Analyst Muhammad Umair said, “The combination of increased demand, strategic revenue diversification, and effective cost management has positioned Delta Air Lines for a successful close to 2023.”
Delta Q4 results preview: Holiday travel to boost earnings, potential Airbus jet order
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