Delta Air Lines Stock Looks Attractive After Strong Quarterly Results
On Wednesday, Delta Air Lines (NYSE: DAL) reported impressive revenue and earnings momentum for its first quarter, despite facing a tough year-ago comparison. Even more encouraging, management expressed optimism about demand trends going into the summer.
Strong customer demand is culminating in what Delta expects to be a record spring and summer travel season, fueled by "generational shifts and evolving consumer preferences," explained Delta CEO Ed Bastian during the company's fourth-quarter earnings call. Specifically, Delta is seeing a consumer shift toward services and premium experiences, as well as accelerating business travel demand. Combining these demand trends with the industry's increased focus on efficiency, Bastian sees "the most constructive backdrop that I've seen in my airline career."
Delta's first-quarter revenue rose 8% year over year to approximately $13.75 billion. Adjusted operating revenue rose 6% year over year to $12.6 billion. This is on top of an extremely tough year-ago comparison, when operating revenue soared 45% year over year as the company continued its recovery from a dip in sales during the COVID pandemic.
Source Fool.com
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