--> DAL US +1.94% Pre open 4k shares traded
Delta Air Lines beats by $0.03, reports revs in-line; sees Q2 PRASM down 2.5-4.5%
- Reports Q1 (Mar) earnings of $1.32 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $1.29; revenues fell 1.5% year/year to $9.25 bln vs the $9.27 bln Capital IQ Consensus, driven by $125 million in foreign currency pressures and a $5 million impact from the recent events in Brussels.
- Passenger unit revenues declined 4.6 percent, including 2 points of impact from foreign currency, on a 2.7 percent increase in capacity.
- Co sees Q2 PRASM down 2.5-4.5%; operating margin 21-23%; capacity up 2-3%.
- "While this is an improvement over our March quarter performance, we are focused on getting unit revenues back to a positive trajectory and we will make adjustments to our fall capacity levels if we are not making sufficient progress over the coming months."
- For the March quarter, the company returned $882 million to shareholders, comprised of $107 million of dividends and $775 million of share repurchases.