Delta Air Lines (NYSE:DAL) gained more than 2% pre-market today after the company posted Q3 earnings that surpassed forecasts.
The airline reported an EPS of $2.03, beating the anticipated $1.97, and quarterly revenue of $14.6 billion, slightly above the expected $14.55 billion.
For 2023, Delta revised its EPS guidance to a range of $6.00 to $6.25, from the earlier $6-7, compared to the Street estimate of $6.03. The company anticipates a 9% to 12% year-over-year increase in Q4 total revenue and an operating margin between 9% and 11%.
Delta cited a resurgence in business travel tied to corporate return-to-office plans. Delta’s CEO, Ed Bastian, emphasized the airline’s unique brand position, anticipating a 20% revenue increase over 2022 and pre-tax earnings surpassing $5 billion, nearly double the previous year.