Delta Airlines (NYSE: DAL) delivered record quarterly revenues of $13.98 billion in Q3, up 11% over the third quarter of 2019, and handsomely beating analysts’ estimates by $360 million.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Adjusted earnings came in at $1.51 per share in Q3 while the Street was expecting adjusted EPS of $1.53.
Ed Bastian, Delta’s CEO commented, “Delta delivered a strong September quarter with record quarterly revenues and a double-digit operating margin. The travel recovery continues as consumer spend shifts to experiences and demand improves in corporate and international. In this environment, we expect December quarter revenue growth to accelerate versus 2019 with an operating margin of approximately 10 percent.”
Bastian added that Delta remains on track to achieve its 2024 target of adjusted earnings of $7 per share and free cash flows of $4 billion.
Is Delta a Buy or Sell?
Wall Street analysts are upbeat about DAL stock with a Strong Buy consensus rating based on 10 Buys and one Hold.
The average price target for DAL stock is $45.15 and implies an upside potential of 54.6% at current levels.
