At Extreme Investor Network, we bring you the latest updates on the business world to keep you informed and ahead of the game. Today, we are excited to share with you the news of Delta Air Lines swinging to a profit in the first quarter of the year.
CEO Ed Bastian shared that bookings for both leisure and business travel are strong, indicating a positive outlook for the airline industry. Delta reported a profit of $37 million, or 6 cents per share, in the first three months of the year, a significant improvement from the loss of $363 million, or 57 cents per share, in the same period last year.
Revenue for Delta reached $12.56 billion, up 6% from the previous year. This figure, although slightly below analysts’ expectations, still shows promising growth for the airline company. With consumers continuing to prioritize travel as a discretionary investment in themselves, Delta is optimistic about the future.
Looking ahead, Delta forecasts second-quarter earnings of $2.20 to $2.50 per share, with a full-year forecast of $6 to $7 a share. The company is also expecting free cash flow of between $3 billion and $4 billion. To focus on efficiency, Delta has slowed down hiring after a massive spree post-pandemic, with plans to optimize operations and restore profitability in core hubs.
As the business world continues to evolve, our team at Extreme Investor Network is dedicated to bringing you valuable insights and analysis to help you make informed investment decisions. Stay tuned for more updates and exclusive content on the latest business news and trends.
