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Should You Buy Delta Stock Ahead of Q2 Earnings?
Delta Air Lines (NYSE: DAL) is scheduled to release second-quarter 2024 results on Jul 11, before market open.
The Zacks Consensus Estimate for second-quarter 2024 earnings was revised downward in the past 60 days and is currently pegged at $2.38 per share. Additionally, the consensus mark implies an 11.2% decline from the year-ago actuals. The Zacks Consensus Estimate for second-quarter 2024 revenues (including revenues related to refinery sales to third parties) is currently pegged at $16.28 billion, suggesting a 4.5% uptick from the year-ago actuals.
Image Source: Zacks Investment Research
DAL has an awe-inspiring earnings surprise history, as reflected in the chart below.
Image Source: Zacks Investment Research
Earnings Whispers for Q2
Our proven model does not conclusively predict an earnings beat for Delta Air Lines this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here.
Delta has an Earnings ESP of -1.05% and a Zacks Rank #3.
Factors to Focus on Ahead of Q2 Earnings
We expect upbeat passenger volumes to have boosted DAL's top-line performance in the June quarter. Notably, the majority of passenger revenues are likely to have come from domestic markets. We expect second-quarter passenger revenues to increase 4.2% from the year-ago actuals to $13.75 billion.
Backed by strong ...