Key Takeaways
- Delta reports third-quarter results before the market opens next Thursday, with analysts expecting revenue to rise slightly year-over-year but profit to tick lower.
- It will be Delta's first quarterly report since July's worldwide IT outage caused by a CrowdStrike software update forced the carrier to cancel thousands of flights, costing it an estimated $500 million.
- Last quarter, Delta posted record revenue, but net income missed expectations and its shares fell.
Delta Air Lines (DAL) reports third-quarter results before the bell next Thursday, Oct. 10, its first report since July's 澳洲幸运5官方开奖结果体彩网:worldwide IT outage caused by a CrowdStrike (CRWD) software update forced the carrier to cancel thousands of flights, costing it an estimated $500 million.
Analysts expect a slight year-over-year gain in revenue to $15.69 billion, with 澳洲幸运5官方开奖结果体彩网:net income projected to tick lower to $1.10 billion, according to analysts' consensus estimates compiled by Visible Alpha.
All 10 analysts covering Delta tracked by Visible Alpha have a "buy" or equivalent rating on the airline's stock, with an average 澳洲幸运5官方开奖结果体彩网:target price of $61.40, about 30% above Thursday afternoon's sha💯re price of $47.38.
Analyst Estimates for Q3 2024 | Q2 2024 | Q3 2023 | |
Revenue | $15.69 billion | $16.66 billion | $15.49 billion |
Diluted EPS | $1.70 | $2.01 | $1.72 |
Net Income | $1.10 billion | $1.31 billion | $1.11 billion |
Key Metric: Profit
In July, Delta posted 澳洲幸运5官方开奖结果体彩网:record second-quarter revenue, but a number of costs rose at least 20%, leading profit to come in well below what analysts had expected, and shares fell 4% that day.
Revenue could continue its strong pace 澳洲幸运5官方开奖结果体彩网:set in the first two quarters of the year, as 澳洲幸运5官方开奖结果体彩网:airlines have said travel demand has remained strong, with 澳洲幸运5官方开奖结果体彩网:July 4 travel setting TSA checkpoint records. However, Delta i𒊎s also likely to have lost out on some revenue and incurred costs handling the mid-July IT outage.
Business Spotlight: First Quarterly Results Si💎nce July I𓃲T Outage
Delta's Q2 results came about a week before the IT outage that 澳洲幸运5官方开奖结果体彩网:hindered Delta's operations for several days. 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Ed Bastian estimated that the canceled flights and compensation for passengers cost the airline 澳洲幸运5官方开奖结果体彩网:at least $500 million.
Delta was the hardest hit of the major airlines, and 澳洲幸运5官方开奖结果体彩网:said it has considered legal action against CrowdStrike and Microsoft (MSFT), but the 澳洲幸运5官方开奖结果体彩网:tech companies have said they aren't responsible for the age of Delta's IT infrastructure or 澳洲幸运5官方开奖结果体彩网:how the airline responded to the outage.
Related Articles
:max_bytes(150000):strip_icc()/GettyImages-2202902168-e66d0c8d32564aa4b87a035e9cd6ee72.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2185161042-1b801f91a06f44a29b9dbba11da4ea36.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2203195002-2a5499b1b19446cf825c8ad81023a17c.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2207986538-66b684f6a96249d5bc36a8261165eb27.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2192064368-470c0eee5bf349aca806d9e26e19e1e6.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2157035756-114e3177361d4c1f87919fea1281d093.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2206406818-a27ece77689248a692b86cc247d62d50.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2218220105-0e9ed5df9d4640bd954bb73ea72aac43.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2205619636-087098c9db5641f1bbcba8f00c9ca1c1.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2153584133-2d89ffc0c958474cacdd5870969726ab.jpg)
:max_bytes(150000):strip_icc()/INV_DollarGeneralCustomer_GettyImages-2074365014-46d3a9b958aa441cbdfd4fdefb3670c8.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2216999850-58858d3020ee429caed2455dd8915241.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2213368477-08bf0ff95bdd48f4b9fd80739582bc8f.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2209924594-f9d793e90a92455e95abb168d95254ba.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2215609714-e9e94166abc24f588377035ea0d81089.jpg)
:max_bytes(150000):strip_icc()/GettyImages-2165823938-be0b83acba1448378db7ab7b81f7777b.jpg)