Delta Air Lines Inc (NYSE:DAL) shares are trading lower Wednesday after the company issued quarterly revenue guidance below analyst estimates.
Delta said it expects total revenue in the current quarter to be between $12.4 billion and $12.5 billion versus the estimate of $12.93 billion, according to data from Benzinga Pro. The airline said it expects quarterly revenue to be fully restored to 2019 levels.
Total unit revenues are expected to be 7 to 9 points better than initially expected on lower-than-expected capacity.
"Unit revenue improvement is being driven by broad-based demand and pricing strength across consumer, business and international travel, with improvement through the quarter," Delta said.
Delta sees operating margins between 13% and 14% in the June quarter. The company expects to generate $1.5 billion of free cash flow during the quarter.
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DAL Price Action: Delta has traded between $29.75 and $48.54 over a 52-week period.
The stock was down 4.62% at $39.77 at time of publication.
Photo: courtesy of Delta Air Lines.
