Proactive Investors - Delta Air Lines (NYSE:DAL) has increased its full-year profit outlook for the second time in less than a month after surpassing Wall Street estimates with its second-quarter earnings.
Delta now expects adjusted earnings of $6 to $7 per share for the year, up from the previous forecast of $5 to $6 per share.
The airline reported an adjusted profit of $2.68 per share for the second quarter, surpassing the average analyst estimate of $2.40.
For the third quarter, Delta anticipates earnings between $2.20 and $2.50 per share, exceeding the Wall Street consensus of $2.07. Additionally, the company estimates a revenue increase of 11% to 14% for the quarter compared to the same period last year.
Delta expects non-fuel costs to decline by 1% to 3% in the third quarter compared to the same period in the prior year.
Shares of the airline were up around 3.6% just ahead of Thursday’s open at $47.95.
The positive news also had a positive impact on rival airlines, with American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Southwest Airlines (NYSE:NYSE:LUV) experiencing a 2% increase in their respective share values.