Delta Air Lines Boosts Earning Projections After Strong Second Quarter

Delta Air Lines has raised its full-year profit outlook after its second-quarter earnings topped Wall Street estimates.

"You're going to see continued strong international growth everywhere," Delta CEO Ed Bastian told Reuters. "The domestic environment is going to be quite resilient as well."

"People are traveling for more reasons than just work at an accelerated pace," he added.

Delta reported an adjusted profit of $2.68 per share for the second quarter, topping the $2.40 per share expected by analysts in a Refinitiv survey. The carrier now expects adjusted earnings of $6-$7 per share this year, compared with its previous forecast of $5-$6 per share.

Delta's air traffic liability, reflecting future bookings, at the end of the second quarter, was $10.4 billion, up $500 million from a year ago, according to Reuters.

Looking ahead to the third quarter, Delta is anticipating earnings in the range of $2.20-$2.50 per share while revenue for the quarter ending September is estimated to be up between 11 percent and 14 percent compared to a year ago.

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