Delta Air Lines releases earnings Outlook
Digest more
Delta Air Lines was one of the top-performing stocks in the S&P 500 Thursday after the carrier reported better second-quarter results than analysts had expected and reinstated its full-year outlook.
Delta Air Lines, the world’s largest carrier by revenue, reported upbeat second quarter results and reinstated its guidance as growing economic clarity deflects headwinds resulting from a global trade war.
Delta Air Lines Inc. reinstated a profit outlook for the year and said travelers are coming back, prompting its stock to surge amid a fresh sense of confidence in the beaten-down US consumer.
After withdrawing its outlook in April, Delta is again forecasting a profit—though at a significantly lower level than originally projected.
Delta Air Lines restored its financial guidance for the year after economic uncertainty slowed air-travel demand, but softness is lingering in its main cabin sales.
Delta’s encouraging report boosted the entire airline sector. United jumped 14.3%, American climbed 12.7%, JetBlue gained 7.8% and Southwest finished 8.1% higher.
Analysts expect that airlines will have a tepid earnings season as tariff uncertainty and declining U.S. dollar weigh on the industry.
Delta Air Lines boosts Wall Street as stock indexes rise; airline sector surges, and earnings season begins with upbeat momentum.
Shares of Delta Air Lines rocketed higher Thursday after the carrier reported better-than-expected profits and reinstated its full-year forecast based on a reassuring travel outlook.For the quarter ending June 30,