Delta Air Lines (DAL) Beats Q1 Earnings and Revenue Estimates

AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Delta Air Lines (DAL) Beats Q1 Earnings and Revenue Estimates April 10, 2024 — 07:40 am EDT Written by Zacks Equity Research for Zacks-> Delta Air Lines (DAL) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this airline would post earnings of $1.17 per share when it actually produced earnings of $1.28, delivering a surprise of 9.40%.Over the last four quarters, the company has surpassed consensus EPS estimates four times.Delta, which belongs to the Zacks Transportation - Airline industry, posted revenues of $13.75 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 7.09%. This compares to year-ago revenues of $12.76 billion. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Delta shares have added about 17.6% since the beginning of the year versus the S&P 500's gain of 9.2%.What's Next for Delta?While Delta has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Delta: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.33 on $15.56 billion in revenues for the coming quarter and $6.53 on $58.63 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Airline is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, American Airlines (AAL), has yet to report results for the quarter ended March 2024.This world's largest airline is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of -680%. The consensus EPS estimate for the quarter has been revised 0.4% higher over the last 30 days to the current level.American Airlines' revenues are expected to be $12.6 billion, up 3.4% from the year-ago quarter. Free Report – The Bitcoin Profit Phenomenon Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money. No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.Download Now – Today It’s FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDelta Air Lines, Inc. (DAL) : Free Stock Analysis ReportAmerican Airlines Group Inc. (AAL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Tags StocksInvesting Zacks Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com. More articles by this source-> Stocks mentioned DAL AAL More Related Articles This data feed is not available at this time. Data is currently not available • Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.