Delta Boeing 757

Delta Air Lines beat on both the top and bottom lines.
The airline’s third-quarter and full-year earnings guidance missed Wall Street estimates as rising fuel costs weighed.
Delta hiked its dividend 15%.
Watch Delta Air Lines trade in real time here.

Delta Air Lines reported better-than-expected second-quarter results Wednesday morning, but guided both third-quarter and full-year earnings below Wall Street estimates because of rising fuel costs. Shares were up about 1% in early trading on Thursday.

The US’s number two carrier earned an adjusted $1.77 a share on record revenue of $11.8 billion. Those numbers were ahead of the respective $1.72 and $11.7 billion that Wall analysts surveyed by Bloomberg were expecting. Delta says its pre-tax income of $1.6 billion was hampered by a $600 million impact from higher fuel prices.

“With an expected $2 billion higher fuel bill for 2018, we are now forecasting our full-year earnings to be $5.35 to $5.70 per share, CEO Ed Bastian said in the earnings report. That forecast is below the $5.74 a share expected by the Bloomberg consensus.

Delta’s third-quarter earnings forecast of $1.65 to $1.85 a share missed the $1.83 that was anticipated.

The airline announced it is hiking its dividend 15% …read more

Source:: Businessinsider – Finance


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