logo-loader
viewDelta Air Lines

Delta Air shares fly high premarket after market-beating fourth quarter results

The airline is now expecting total unit revenue growth in the first quarter to come in between 2.5% to 4.5%

Delta Air Line aeroplane
Load factor in the quarter also improved to 85.2% from 85.1% previously.

Delta Air Lines Inc (NYSE:DAL) saw its shares rise in premarket trade after the company released its fourth quarter results which beat market expectations.

In a statement, the airline said net income during the quarter dropped to US$572mln, or 80 US cents a share, from the US$622mln or 84 US cents a share, recorded a year earlier.

READ: Delta Air shares fly higher premarket after third quarter beats market estimates

Excluding non-recurring items, adjusted earnings per share stood at 96 US cents, which was comfortably above market consensus of 88 US cents.

In the quarter, a one-time charge of US$150mln was recognised due to the tax reform legislation.

Total revenue rose 8% to US$10.25bn, also outstripping market consensus for US$10.13bn, on the back of a 7% hike in total passenger revenue and a 18% jump in other revenues.

Load factor in the quarter also improved to 85.2% from 85.1% previously.

Delta Air said it is now expecting total unit revenue growth in the first quarter to come in between 2.5% to 4.5%.

In premarket trade, Delta Air was up 2.85% at US$57.45.

Quick facts: Delta Air Lines

Price: 62.03 USD

NYSE:DAL
Market: NYSE
Market Cap: $40.12 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

7Digital is back with big plans to shake up music streaming

Technology company 7Digital (LON:7DIG) has shaken off its former business woes emerging with a new business plan set to revolutionise the music streaming services space. CEO Paul Longworthy talks to Proactive London about his company's offering and how a recent restructuring means 7Digital is...

7 minutes ago

2 min read