Why Delta Air Lines Stock Is a Strong Buy Post-Earnings
After an excellent run over the last three months (up almost 40%), Delta Air Lines (NYSE: DAL) stock sold off a bit after the company released its second-quarter earnings. However, it looks more like a round of sell-off-on-the-news rather than any verdict on the earnings. In fact, the earnings and guidance upgrade was excellent, and Delta's stock has room to run. Here's why.
The strengthening trend in Delta Air Lines's business can be seen in the Q2 year-over-year revenue growth of 19%. Just a couple of weeks earlier, Delta held its 2023 investor day and upgraded expectations for revenue growth to come in at 17% to 18% compared to prior guidance of 15% to 17%.
If the air travel market is set to slow in response to rising interest rates crimping consumer discretionary spending, it certainly hasn't been seen in Delta's earnings yet. There was more good news from the updated full-year guidance, as management raised profit margin and earnings expectations again, having raised them on the investor day in late June.
Source Fool.com
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