Why Delta Air Lines Shares Are Rising Today

Why Delta Air Lines Shares Are Rising Today

Delta Air Lines Inc DAL shares are trading higher Wednesday morning after the company reported better-than-expected earnings results.

Delta said first-quarter adjusted operating revenue totaled $8.2 billion, which came in below the $8.76 billion estimate. Delta reported an adjusted earnings loss of $1.23 per share in the first quarter, which beat the estimate for a loss of $1.37 per share.

"With a strong rebound in demand as omicron faded, we returned to profitability in the month of March," said Ed Bastian, CEO of Delta.

Delta said it expects second-quarter revenue to be 93% to 97% recovered compared to 2019 levels. Capacity is expected to return to 84% of 2019 levels. Operating margin is expected to be between 12% and 14% in the second quarter.

See Also: Morning Brief: Top Stories Dominating Financial Media on Wednesday, April 13

DAL 52-Week Range: $29.75 - $49.50

According to data from Benzinga Pro, the stock was up 6.81% at $41.25 at time of publication.

Photo: courtesy of Delta.

Posted In: Ed Bastianwhy it's movingEarningsNewsMoversTrading Ideas

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