Airline stocks are moving today as investors in the sector celebrate positive earnings results from a major player in the space!
Delta Air Lines (NYSE:DAL) is the main catalyst behind airline stocks moving on Thursday. This comes after it released results for the third quarter of 2023, which were positive alongside increased international travel.
Breaking that report down, Delta reported adjusted EPS of $2.03 per share alongside revenue of $15.49 billion. Both of these figures beat out Wall Street’s estimates for the quarter of $1.97 per share and revenue of $15.13 billion.
Investors are also reacting to Delta’s outlook for Q4 2023. This has the firm expecting adjusted EPS to range from $1.05 to $1.30 per share. For comparison, analysts are expecting the company to report adjusted EPS of $1.11 during the quarter.
Adding to that is the airline company’s adjusted EPS guidance of between $6 and $6.25 for the full year of 2023. Yet again, that’s looking good compared to Wall Street’s estimate of $6.01 per share.
Let’s get into how this news is affecting airline stocks below!
Airlines Stocks Moving on Thursday
- DAL stock starts us off with a slight loss this morning after seeing gains in earlier trading.
- American Airlines (NASDAQ:AAL) joins DAL as an airline stock that was up earlier today, although it’s now down 2% as of this writing.
- United Airlines (NASDAQ:UAL) stock is no different, as the airline company also rallied this morning before falling almost 1% today.
Unfortunately, it looks like falls from the larger market are keeping airline stocks down today despite the positive earnings report from Delta Air Lines.
Investors looking for more of the most recent stock market stories are in the right place!
InvestorPlace is offering up all of the hottest stock market stories that traders need to know about on Thursday! Among that is what’s happening with shares of Microsoft (NASDAQ:MSFT), Plug Power (NASDAQ:PLUG) and First Solar (NASDAQ:FSLR) stock today. All of that news is available at the following links!
More Stock Market News for Thursday
- MSFT Stock Alert: The $29 Billion Reason Microsoft Is Down Today
- Why Is Plug Power (PLUG) Stock Moving Today?
- First Solar (FSLR) Stock Pops on Barclays Upgrade
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
