Delta Air Lines on Wednesday revised up its earnings per share (EPS) in the fourth-quarter to a range of $1.35 to $1.40 amid continued strong demand. The previous guidance was $1 - $1.25.
"Demand for air travel remains robust as we exit the year and Delta's momentum is building," said Chief Executive Officer Ed Bastian.
Compared to the same pre-pandemic quarter in 2019, total revenue at the US airline is now expected to increase in a range of 7& to 8%, updated from previous guidance range of 5% to 9%.
For full year 2022, the Atlanta-based company expects EPS to be $2.12 to $2.17. Adjusted EPS guidance is now $3.07 to $3.12, which reflects the increased outlook for the December quarter. Total revenue is estimated in a range of $45.5 billion to $45.6 billion.
For 2023, Delta projects 15% to 20% revenue growth over 2022. Also, the company plans to generate more than $2 billion of free cash flow, enabling further debt reduction.
The company reiterated its 2024 targets, including earning over $7 per share and strengthening the balance sheet to return to investment grade metrics.
