Delta Air Lines (DAL) Tops Q3 EPS by 13c, Offers Outlook

4Q21 Forecast

Capacity 1

80% restored

Total Revenue 1, 2

Recovered to low 70s percentage

Fuel Price ($/gal) 2, 3

$2.25 - $2.40

CASM-Ex 1, 2

Up 6% - 8%

Capital Expenditures 2

~$1.2 billion

Adjusted Net Debt 2

~$22 billion

1 Compared to December quarter 2019

2 Non-GAAP measure

3 Fuel guidance based on prices as of October 11 (Brent at $83, cracks at $13, Monroe profit with RINS at $1.30)