Delta Air Lines (NYSE:DAL) earnings for the third quarter of 2019 has DAL stock dipping lower on Thursday. The quarter sees the company bringing in per-share earnings of $2.32 and revenue of $12.56 billion. In comparison, Wall Street was looking for earnings per share of $2.26 on revenue of $12.6 billion.
Now for a closer look at the most recent Delta Air Lines earnings report.
- DAL saw EPS increase 28.89% YoY from $1.80.
- Revenue for the quarter was up 5.1% from $11.95 billion during the same time last year.
- Operating expenses for the quarter come in at $10.49 billion.
- This is a 1.75% increase over operating expenses of $10.31 billion in the same period of the year prior.
- It’s also worth mentioning that the company is planning to expand its workforce in 2020.
- This will have it hiring 12,000 new employees, which includes pilots, flight attendants and ground workers.
DAL CEO Ed Bastian said the following in the Delta Air Lines earnings report.
“Demand for the Delta product remains healthy, positioning the company for a strong close to 2019 with expectations for more than 20% earnings growth, over $4 billion in free cash flow and a 5th year of pre-tax earnings over $5 billion.”
The Delta Air Lines earnings report also includes its outlook for the fourth quarter of 2019. The company says it is expecting per-share earnings to range from $1.20 to $1.50. Unfortunately for DAL stock, the high end of this guidance is just below Wall Street’s estimate of $1.51 for the quarter.
DAL stock was down 2.4% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.