Delta Air Lines (NYSE:DAL) shares closed more than 2% higher on Friday following the company’s reported Q3 results, with revenue coming in at $14 billion, compared to the Street estimate of $12.91 billion. Adjusted revenue grew 3% from 2019 to $12.8 billion.
EPS came in at $1.51, missing the Street estimate of $1.55. The company expects Q4 EPS to be in the range of $1.00-$1.25, compared to the Street estimate of $0.98. Revenue is estimated to grow 5-9% on strengthening demand. The company’s Q4 CASM-ex is expected to be 12% - 13% higher on 91% - 92% capacity restoration (vs. 2019), a significant sequential improvement in CASM-ex, which was up 22.5% in Q3.