Delta soars to record quarterly earnings, lifts guidance

Investing.com -- Delta (NYSE: DAL) has reported its best-ever quarterly revenue and earnings as a sharp post-pandemic rebound in travel demand flew in the face of economic growth concerns.

The U.S. carrier posted adjusted earnings per share (EPS) of $2.68, rising from $1.44 in the corresponding period last year and beating expectations of $2.41.

Total revenues increased 19% annually to $14.61 billion, which the company said was a reflection of the "strength of the demand environment" both in the U.S. and internationally. Analysts polled by Bloomberg saw the figure coming in at $14.44B.

"Robust demand is continuing into the September quarter where we expect total revenue to be similar to the June quarter," said Delta President Glen Hauenstein in a statement.

Non-fuel unit costs are also expected to decline 1% to 3% year-over-year in the third quarter. Delta noted that this was consistent with its outlook for low-single-digit declines in the second half of 2023.

The company subsequently improved its guidance for annual EPS to a range of $6 to $7 a share, up from its prior forecast of $5 to $6.

Shares in Delta jumped in premarket U.S. trading on Thursday.

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