Delta Air Lines Stock (NYSE: DAL) Dips – Q3 Earnings Downward Revision

Delta Air Lines stock fell in trading yesterday, down 3.99% as earnings failed to hit the mark. Seaport Res Ptn has revised its Q3 2024 earnings projections for Delta Air Lines, Inc. (NYSE:DAL), reducing the per-share estimate from $2.25 to $1.90.

This adjustment comes after Delta Air Lines posted earnings per share (EPS) of $2.36 for the quarter, narrowly missing the consensus estimate of $2.37 by just one cent. The company reported quarterly revenue of $15.41 billion, also falling slightly shy of analyst expectations, which had been pegged at $15.45 billion.

Amidst these financial developments, the company also adjusted its shareholder returns, increasing the quarterly dividend from $0.10 to $0.15 per share. Paid on August 20th, this represents an annualized dividend yield of 1.33%.

In the marketplace, the airline's stock has seen fluctuations over the past year, touching a 12-month low of $30.60 and scaling a high of $53.86. Delta Air Lines' market capitalisation currently stands at $29.06 billion, reflecting its size and standing in the industry.

Executive movement within the company also signaled confidence in Delta Air Lines' trajectory. Glen W. Hauenstein, the President of Delta Air Lines, sold 100,000 shares of company stock, netting $4,905,000 at an average price of $49.05 per share. Conversely, Delta's Board Director Willie Cw Chiang chose to invest in the company, purchasing 10,000 shares at an average price of $49.50 each, amounting to a $495,000 investment.

Analysts have set the consensus full-year earnings estimate for Delta Air Lines at $6.55 per share, a figure that investors will be watching closely as future quarters unfold.

Delta Air Lines serves its customers through two primary operations: the Airline segment and the Refinery segment. The company is renowned for providing scheduled air transportation for passengers and cargo, catering to both domestic and international markets.

As the fiscal year progresses, Delta Air Lines aims to steer through industry headwinds, capitalize on operational strengths, and deliver value to its shareholders. The stock market, as well as current and potential investors, will undoubtedly keep a close eye on the airline's performance in the coming quarters.