Delta Air Lines announced Wednesday that it posted record sales in the first quarter, with profits and sales for the period exceeding Wall Street expectations.
Atlanta-based Carrier returned 96 cents a share adjusted for the first quarter, compared to an average of 90 cents expected from analysts surveyed by Refinitiv.
Delta posted sales of $ 10.47 billion, analysts forecast $ 10.42 billion. Sales increased 5.1 percent from $ 9.97 billion in the first three months of last year.
Unadjusted, the company's profit increased 31 percent to $ 730 million or $ 1.09 per share, compared to $ 557 million or 79 cents a year earlier.
Investors were expecting a strong quarter from Delta, especially after raising earnings and sales forecasts last week, stimulating healthy demand that influenced record performance.
Delta said capacity will remain constant during the summer months, which will alleviate investors' concerns when too many flights are planned during peak season, lowering tariffs and reducing revenue.
It forecasts an even stronger second quarter, telling investors that earnings per share will fall between $ 2.05 and $ 2.35 Operating income will increase by 6% to 8% from the year-ago quarter. It expects its flight capacity to increase by 4% year-on-year to 4.5%.
Delta's revenue per available seat-mile, one of the most important industry metrics, for how much airlines fly for every seat they fly a mile, rose 2.4%. in the first three months of the year 2019 compared to the same period last year. The airline expects this figure to rise between 1.5% and 3.5% in the second quarter of this year.