Strong 2Q at Delta, but spiraling fuel costs ping outlook

By Associated Press

ATLANTA (AP) _ Delta Air Lines Inc. (DAL) on Thursday reported second-quarter net income of $1.02 billion.

The Atlanta-based company said it had net income of $1.47 per share. Earnings, adjusted for non-recurring costs, were $1.77 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.

The airline posted revenue of $11.78 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $11.68 billion.

Delta expects full-year earnings to be $5.35 to $5.70 per share.

Delta shares have dropped 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 4 percent. The stock has dropped 8 percent in the last 12 months.

This story was generated by Automated Insights  using data from Zacks Investment Research. Access a Zacks stock report on DAL at https://www.zacks.com/ap/DAL

This article provided by NewsEdge.