Delta Air Lines (DAL) Tops Q1 EPS by 3c

Delta Air Lines (NYSE: DAL) reported Q1 EPS of $1.32, $0.03 better than the analyst estimate of $1.29. Revenue for the quarter came in at $9.25 billion versus the consensus estimate of $9.27 billion.

Delta's operating revenue for the March quarter decreased 1.5 percent, or $137 million, driven by $125 million in foreign currency pressures and a $5 million impact from the recent events in Brussels. Passenger unit revenues declined 4.6 percent, including 2 points of impact from foreign currency, on a 2.7 percent increase in capacity.

"The momentum with our commercial initiatives, including corporate share gains, Branded Fares, and our partnership with American Express, allowed us to maintain our top line performance in the March quarter despite 40 percent lower market fuel prices and $125 million of pressure from foreign currency," said Glen Hauenstein, Delta's incoming president. "We are forecasting a unit revenue decline of 2.5 – 4.5 percent for the June quarter. While this is an improvement over our March quarter performance, we are focused on getting unit revenues back to a positive trajectory and we will make adjustments to our fall capacity levels if we are not making sufficient progress over the coming months."

June 2016 Quarter Guidance

Following are Delta's projections for the June 2016 quarter:

For earnings history and earnings-related data on Delta Air Lines (DAL) click here.

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