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DAL STZ
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Today at a glance:
🛩️ Delta Airlines: Cruising Again
🍺 Constellation: Still on Ice
🛩️ Delta Airlines: Cruising Again
Delta’s Q2 results show a more confident airline taking back control. Revenue was flat Y/Y at $15.5 billion ($440 million beat), with EPS of $2.10 ($0.04 beat. Premium and loyalty revenue continued to shine—up 5% and 8% respectively—with Amex remuneration rising 10% to $2 billion. High-margin streams now make up 59% of total revenue, reinforcing Delta’s strategic edge.
After pulling guidance last quarter, Delta restored its full-year forecast: EPS of $5.25–$6.25 and $3 to $4 billion in free cash flow, signaling improved visibility and demand stabilization. Q3 EPS is expected to land between $1.25 and $1.75. Management highlighted stability in corporate travel, international strength, and off-peak capacity cuts to address main cabin softness. The dividend was boosted by 25%.
The bottom line? While demand isn’t booming, Delta’s discipline, diversified model, and premium focus have it charting a steadier flight path than peers.