Delta Air Lines stock fell after fall, revenue fell more than expected


Delta Air Lines Inc. shares of DAL,
-0.98%
Prepaid trading declined by 2.9% on Tuesday, when Air Carrier reported a wider-than-expected loss in the third quarter as passenger revenue declined 83%. Delta net loss of $ 5.38 billion, or $ 8.47 per share, from net income of $ 1.50 billion, or $ 2.31 per share, in the year-ago period. Excluding non-recurring items, adjusted loss per share was $ 3.30 compared to a FactSet loss consensus of $ 3.04. Total revenue fell 76% to $ 3.06 billion, down from the FactSat consensus of $ 3.13 billion, as passenger revenue fell 83% to $ 1.94 billion to meet expectations of $ 2.31 billion. Cargo revenue was down 25% to $ 142 million with expectations of $ 131 million. The load factor dropped from 88% to 41% with a FactSet consensus of 48.8%. Passenger revenue per seat mile (PRASM) fell 55% to $ 6.85, compared to the FactSet consensus of $ 5.61. “While our September quarter results reflect the magnitude of the epidemic on our business, we have been encouraged as more customers travel and are looking for a path of progressive improvement in our revenue, financial results and daily cash burns. , ”Said Chief Executive Ed Bastian. The stock lost 44.2% on Monday, while US Global Jets ETF JETS,
-1.34%
43.2% and the S&P 500 SPX lost,
-0.31%
An increase of 9.4%.

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