DAL - Delta Air Lines Sets Growth Trajectory Prioritizes Debt Reduction After Strong Q1 | Benzinga
Delta Air Lines Inc (NYSE) shares are trading higher by ~4% premarket on Wednesday morning following the release of its first-quarter 2024 results.
Delta reported a first-quarter 2024 operating revenue growth of 8% year-over-year to $13.748 billion and adjusted operating revenue of $12.563 billion (+6% YoY), beating the consensus of $12.57 billion.
Adjusted average fuel price of $2.76 per gallon dropped 10% from last year’s quarter. Adjusted EPS was $0.45, above the consensus of $0.36.
Total passenger revenue was $11.13 billion, a 7% increase YoY; Cargo revenue decreased 15% YoY to $178 million, and Other revenue was $2.44 billion (+14% YoY).
Delta recorded an adjusted operating income of $640 million, compared to $546 million YoY, with an adjusted operating margin of 5.1%, up ~50 bps.
Adjusted operating expenses increased by 6% YoY to $11.92 billion, and non-fuel costs ...