Delta Air Lines Inc DAL shares are trading lower Wednesday after the company issued quarterly revenue guidance below analyst estimates.
Delta said it expects total revenue in the current quarter to be between $12.4 billion and $12.5 billion versus the estimate of $12.93 billion, according to data from Benzinga Pro. The airline said it expects quarterly revenue to be fully restored to 2019 levels.
Total unit revenues are expected to be 7 to 9 points better than initially expected on lower-than-expected capacity.
"Unit revenue improvement is being driven by broad-based demand and pricing strength across consumer, business and international travel, with improvement through the quarter," Delta said.
Delta sees operating margins between 13% and 14% in the June quarter. The company expects to generate $1.5 billion of free cash flow during the quarter.
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DAL Price Action: Delta has traded between $29.75 and $48.54 over a 52-week period.
The stock was down 4.62% at $39.77 at time of publication.
Photo: courtesy of Delta Air Lines.
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