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Delta Air Lines Inc - Stock Quote DAL

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Morningstar's Delta Air Lines Inc Stock Analysis

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Delta Faced Increased Costs in the First Quarter but Is Passing Higher Costs to Consumers

Burkett Huey, CFA Equity Analyst

Analyst Note

| Burkett Huey, CFA |

No-moat-rated Delta posted a bifurcated first quarter with the COVID-19 omicron surge depressing demand in January and the first half of February—but demand has since surged from President’s Day onward, and management has had success in passing fuel and wage inflation to the consumer. Sales of $9.3 billion and loss per share of $1.23 beat FactSet consensus by 6.5% and 2.4%, respectively. We reduce our fair value estimate to $55 per share as we account for higher near-term fuel prices and increase our medium-term wage assumptions, which reduced our midcycle operating margin estimate by 20 basis points to 15.6%.

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Delta Air Lines Inc's Company Profile

Business Description

Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries. Delta operates a hub-and-spoke system network, where it gathers and distributes passengers across the globe through key locations such as Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul. Delta’s sale of frequent flier miles, particularly to American Express, is a major driver of the firm’s profits.

Post Office Box 20706
Atlanta, GA, 30320-6001
T +1 404 715-2600
Sector Industrials
Industry Airlines
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 83,000

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