FILE - In this Dec. 8, 2018, file photo, a worker fuels a Delta Connection regional airlines passenger jet at Logan International Airport in Boston. Delta Air Lines Inc. reports financial results Wednesday, April 10, 2019.(AP Photo/Bill Sikes, File)

Delta profit surges and releases strong outlook

April 10, 2019 - 5:12 am

ATLANTA (AP) — Delta reported a 30% profit surge during the first quarter and its outlook for the current quarter pushed company shares higher in early trading Wednesday.

The Atlanta carrier earned $730 million, or $1.09 per share, for the quarter. A year earlier it earned $557 million, or 79 cents per share.

Earnings, adjusted for one-time gains, came to 96 cents per share. That's 6 cents better than what analysts surveyed by Zacks Investment Research were calling for.

That profit got a boost from an early renewal of its agreement with American Express, according to Delta Air Lines Inc.

Revenue was $10.47 billion, topping the $10.39 billion that Wall Street expected.

The average fuel price per gallon was $2.06 compared with $1.98 a year ago.

For the second quarter, Delta anticipates earnings in a range of $2.05 to $2.35 per share. Industry analyst have been projecting per-share earnings of $2.14, leaving a lot of room to the upside.

Delta says revenue should be up 6% to 8% this quarter

Shares climbed 2% before the opening bell.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DAL at https://www.zacks.com/ap/DAL

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