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Delta (DAL) Reports Q3 Earnings: What Key Metrics Have to Say

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For the quarter ended September 2023, Delta Air Lines (DAL - Free Report) reported revenue of $15.49 billion, up 10.8% over the same period last year. EPS came in at $2.03, compared to $1.51 in the year-ago quarter.

The reported revenue represents a surprise of +1.29% over the Zacks Consensus Estimate of $15.29 billion. With the consensus EPS estimate being $1.92, the EPS surprise was +5.73%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Delta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Available seat miles - Consolidated: 73,226 million versus the five-analyst average estimate of 73,138.86 million.
  • Adjusted - Total unit revenues - TRASM: 19.87 cents versus 19.88 cents estimated by five analysts on average.
  • Cost per Available Seat Mile (CASM) - Ex: 12.59 cents versus 12.61 cents estimated by five analysts on average.
  • Passenger Revenue Per Available Seat Mile: 17.92 cents versus the four-analyst average estimate of 17.71 cents.
  • Adjusted- Average fuel price per gallon: $2.78 compared to the $2.79 average estimate based on four analysts.
  • Passenger Load Factor: 88% versus 87.8% estimated by four analysts on average.
  • Total revenue per available seat mile (TRASM): 21.15 cents versus 20.9 cents estimated by four analysts on average.
  • Fuel Gallons Consumed - Consolidated: 1,062 Mgal compared to the 1,113.08 Mgal average estimate based on three analysts.
  • Passenger Mile Yield: 20.47 cents compared to the 20.15 cents average estimate based on three analysts.
  • Operating Revenues- Passenger: $13.12 billion compared to the $12.99 billion average estimate based on five analysts. The reported number represents a change of +14.4% year over year.
  • Operating Revenues- Cargo: $154 million compared to the $197.15 million average estimate based on four analysts. The reported number represents a change of -35.8% year over year.
  • Operating Revenues- Other net: $2.22 billion versus $2.06 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.5% change.
View all Key Company Metrics for Delta here>>>

Shares of Delta have returned -9% over the past month versus the Zacks S&P 500 composite's -2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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