RE:CIBC comments - "On the Road with CHR" The same old story. Still only 41cent of earnings for the year. Nothing else.
BRIEF-Delta Air Lines Raises 2023 Outlook & Reiterates 2024 Targets
Reuters - Updated 14 hours ago
June 27 (Reuters) - Delta Air Lines Inc:
* RAISING 2023 OUTLOOK & REITERATING 2024 TARGETS
* SEES 2023 EPS AT TOP END OF $5 TO $6 RANGE
* SEES 2023 OPERATING MARGIN AT TOP END OF 10%-12% RANGE - SEC FILING
* SEES 2023 FREE CASH FLOW OF $3 BILLION
* OEM AND SUPPLY CHAIN DELAYS CONTINUING
* SUPPLY SHORTFALL WITH INDUSTRY CAPACITY CONSTRAINED
* TARGETING FREE CASH FLOW OF $4 BILLION OR HIGHER IN 2024 AND BEYOND
* RAISING REVENUE OUTLOOK FOR JUNE QUARTER AND FULL YEAR
* EXPECT Q2 TRASM FLAT TO +1% YOY
* EXPECT FY TRASM FLAT TO +3% YOY
* SEES Q2 REVENUE GROWTH OF 17-18%
* SEES FY REVENUE GROWTH 17-20%
* SEES 2Q23 EPS $2.25-$2.50
* PENT - UP DEMAND FOR AIR TRAVEL NOT YET SATISFIED
* EXECUTING AHEAD OF THREE - YEAR FINANCIAL PLAN ANNOUNCED IN DEC 2021
* NON - FUEL UNIT COSTS IMPROVING YEAR OVER YEAR WITH DECLINES EXPECTED IN 2H23 AND 2024
* ACCELERATING DEBT REPAYMENT; EXPECT TO RETIRE >$4 BILLION OF GROSS DEBT IN 2023 Further company coverage:
Look at the Delta raising everything.