Delta Air Lines reaffirmed its Q1 2023 outlook ahead of J.P. Morgan conference

Delta Air Lines reaffirmed its outlook for the first quarter of 2023 ahead of its presentation at the J.P. Morgan Industrials Conference on March 14, 2023.

The airline continues to expect total revenue growth of +14% -17% for the quarter relative to 2019. That equates to an adjusted revenue of $11.8B – $12.1B compared to $12.50B consensus.

Earnings per share are projected in the range of $0.15 to $0.40 (consensus: $0.33), while operating margin is seen 4% – 6%.

The airline also sees one-time pilot pact charges of $0.8B in the quarter in connection with its recently ratified four-year pilot working agreement with the Air Line Pilots Association.

Delta (DAL) shares were marginally down premarket. Last night, United Airlines (UAL) shares slumped after its issued a pessimistic outlook for the first quarter of 2023. Meanwhile, Alaska Air (ALK) lowered its Q1 margin forecast amid higher fuel costs.