EARNINGS: Delta's Q4 profit and revenue topped expectations. -Adjusted EPS: $1.48 vs. $1.33 expected -Adjusted revenue: $12.29 billion, excluding refinery sales, vs. $12.23 billion expected Lebeaucarnews has the details.
Its first-quarter forecast projected higher labor costs.Follow your favorite stocksDelta Air Lines Airbus A330neo or A330-900 aircraft with neo engine option of the European plane manufacturer, as seen departing from Amsterdam Schiphol AMS EHAM International airport.fourth-quarter profit and revenue topped expectations on Friday, but shares fell on the carrier's outlook for the first quarter.
But it said unit costs, stripping out fuel, will likely increase 3% to 4% from 2022, including for labor and rebuilding its network. Delta pilots' union areDelta forecast full-year 2023 earnings of $5 to $6 a share.Here's how Delta performed in the fourth quarter, compared with Wall Street expectations based on Refinitiv consensus estimates:$12.29 billion, excluding refinery sales, vs. $12.23 billion expected.
High costs ate away at some of Delta's profits, but its net income still totaled $828 million, down from $1.1 billion in the same three-month period of 2019, but on 9% less flying than three years earlier. It was a sign of travelers' willingness to continue booking, even at high fares, which more than made up for the higher expenses.
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