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Delta Air Lines (DAL - Free Report) reported fourth-quarter 2019 earnings per share (excluding 1 cent from non-recurring items) of $1.7 per share, surpassing the Zacks Consensus Estimate of $1.4. Earnings increased 30.8% on a year-over-year basis mainly due to low fuel costs.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Delta depicted a bright picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being revised upward to the tune of 1.5% over the past 30 days
Prior to the earnings beat in the fourth-quarter, the company delivered positive surprises in each of the trailing four quarters. The average earnings beat was 3.5%.
Delta recorded operating revenues of $11,439 million, which surpassed the Zacks Consensus Estimate of $11,342.3 million. Revenues increased 6.5% on a year over year basis.
Key Stats to Note: The airline behemoth witnessed a 1.4% growth in consolidated passenger revenue per available seat mile (PRASM: a key measure of unit revenue) in the quarter. Fuel price per gallon declined 17.7% on an adjusted basis. For the first quarter of 2020, the carrier expects revenues to grow in the range of 5% to 7%. The estimated fuel price, including taxes and refinery impact, is expected in the range of $2 to $2.20 per gallon for the first quarter. Pre-tax margin is expected to be flat on a year over year basis. The company expects total revenues per available seat miles (TRASM: adjusted) to be either flat or increase up to 2% in the first quarter. Non fuel unit cost (adjusted) is expected to increase in the 2-3% range in the first quarter.
Stock Price: The earnings outperformance pleased investors. Consequently, shares of the company were up in pre-market trading at the time of writing.
Check back later for our full write up on this Delta earnings report later!
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Delta Air Lines (DAL) Beats on Q4 Earnings
Delta Air Lines (DAL - Free Report) reported fourth-quarter 2019 earnings per share (excluding 1 cent from non-recurring items) of $1.7 per share, surpassing the Zacks Consensus Estimate of $1.4. Earnings increased 30.8% on a year-over-year basis mainly due to low fuel costs.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Delta depicted a bright picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being revised upward to the tune of 1.5% over the past 30 days
Prior to the earnings beat in the fourth-quarter, the company delivered positive surprises in each of the trailing four quarters. The average earnings beat was 3.5%.
Delta Air Lines, Inc. Price and EPS Surprise
Delta Air Lines, Inc. price-eps-surprise | Delta Air Lines, Inc. Quote
Revenues Better Than Expected
Delta recorded operating revenues of $11,439 million, which surpassed the Zacks Consensus Estimate of $11,342.3 million. Revenues increased 6.5% on a year over year basis.
Key Stats to Note: The airline behemoth witnessed a 1.4% growth in consolidated passenger revenue per available seat mile (PRASM: a key measure of unit revenue) in the quarter. Fuel price per gallon declined 17.7% on an adjusted basis. For the first quarter of 2020, the carrier expects revenues to grow in the range of 5% to 7%. The estimated fuel price, including taxes and refinery impact, is expected in the range of $2 to $2.20 per gallon for the first quarter. Pre-tax margin is expected to be flat on a year over year basis. The company expects total revenues per available seat miles (TRASM: adjusted) to be either flat or increase up to 2% in the first quarter. Non fuel unit cost (adjusted) is expected to increase in the 2-3% range in the first quarter.
Zacks Rank: Currently, Delta carries a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Price: The earnings outperformance pleased investors. Consequently, shares of the company were up in pre-market trading at the time of writing.
Check back later for our full write up on this Delta earnings report later!
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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