Why Delta Air Lines Shares Are Rising Today

Delta Air Lines Inc (NYSE: DAL) shares are trading higher Wednesday morning after the company reported better-than-expected earnings results.

Delta said first-quarter adjusted operating revenue totaled $8.2 billion, which came in below the $8.76 billion estimate. Delta reported an adjusted earnings loss of $1.23 per share in the first quarter, which beat the estimate for a loss of $1.37 per share.

"With a strong rebound in demand as omicron faded, we returned to profitability in the month of March," said Ed Bastian, CEO of Delta.

Delta said it expects second-quarter revenue to be 93% to 97% recovered compared to 2019 levels. Capacity is expected to return to 84% of 2019 levels. Operating margin is expected to be between 12% and 14% in the second quarter.

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DAL 52-Week Range: $29.75 - $49.50

According to data from Benzinga Pro, the stock was up 6.81% at $41.25 at time of publication.

Photo: courtesy of Delta.