Delta Air Lines Shares Plunge 5% Following Q4 Results

Shares of Delta Air Lines (NYSE:DAL) experienced a decline of over 5% pre-market today following the airline's revision of its full-year profit forecast.

For 2024, Delta has set its adjusted earnings per share (EPS) expectations in the range of $6 to $7, aligning with the consensus estimate of around $6.56.

The company is also projecting its adjusted EPS for the first quarter to be in the range of 25 cents to 50 cents, compared to the consensus forecast of 40 cents.

Dan Janki, the Chief Financial Officer of Delta, explained that in 2024, Delta is focusing on optimization to improve efficiencies. These efficiencies are expected to support ongoing investments in staff, operations, and customer services. The airline anticipates growth in earnings and cash flow for the full year, with non-fuel unit costs increasing slightly over those of 2023.

For the fourth quarter, Delta posted an adjusted EPS of $1.28, a slight decrease from $1.48 in the same quarter of the previous year, surpassing analyst expectations of $1.16.

Delta's adjusted net income for the fourth quarter was reported at $826 million, down 13% from the previous year, yet higher than the anticipated $757.9 million.

The quarter's revenue was $13.7 billion, exceeding the consensus estimate of $13.56 billion.