Delta Air Lines Earnings: Recovery on the Horizon
On Thursday morning, Delta Air Lines (NYSE: DAL) led off earnings season for the U.S. airline industry. As expected, the airline giant posted a sizable loss and continued to burn cash last quarter. It expects more of the same in the first quarter of 2021.
Nevertheless, Delta's earnings report and management commentary offered compelling evidence that a strong demand recovery is just around the corner -- and that Delta is in a great position to profit from that future rebound in demand.
Delta reported an adjusted loss of $1.6 billion ($2.53 per share) on adjusted revenue of $3.53 billion for the fourth quarter. These results were roughly in line with the analyst consensus, which had called for an adjusted loss of $2.51 per share on $3.6 billion of revenue. Furthermore, Delta's results improved sequentially. In the third quarter -- normally a seasonally stronger period -- the company reported adjusted revenue of $2.65 billion and an adjusted loss of $3.30 per share.
Source Fool.com
