Delta Air Lines Raises Revenue Outlook; Sees FY23 Earnings At Top End Of Prior Guidance

(RTTNews) - Delta Air Lines, Inc. (DAL) said it expects second-quarter total revenue, adjusted, to increase in a range of 17 - 18% year-over-year to approximately $14.5 billion. Previously, the company projected revenue growth in a range of 15 - 17%. TRASM, adjusted, is projected to grow in a range of flat to 1%. Capacity is projected to rise 17% year-over-year. Operating margin, adjusted, is targeted to be approximately 16%. The company expects second-quarter earnings per share of $2.25-2.50.

For fiscal 2023, the company expects revenue, adjusted, growth in a range of 17 - 20%. Previously, the company projected revenue growth in a range of 15- 20%. Earnings per share is projected to be at top end of prior guidance.

Delta Air Lines anticipates to retire more than $4 billion of gross debt in 2023. The company expects $3 billion of free cash flow in 2023, and $4 billion or higher in 2024.

Delta Air Lines reiterated its fiscal 2014 targets.

Shares of Delta Air Lines are up 1% in pre-market trade on Tuesday.

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