other material
confidence high
sentiment positive
materiality 0.75
Delta unveils 3-5 yr financial framework: mid-teens margin, 10% EPS growth, $3-5B FCF
DELTA AIR LINES, INC.
- Long-term targets: mid-teens operating margin, 1x gross leverage, 10% avg annual EPS growth, $3-5B annual FCF, 15%+ ROIC.
- Reaffirms Dec Q4 2024 guidance; preliminary 2025 outlook: capacity +3-4% YoY, revenue mid-single digits, non-fuel unit cost low-single digits.
- Expects premium cabin revenue to exceed main cabin revenue by 2027; introducing A350-1000 with ~50% premium seating.
- Targets $40B+ unencumbered assets, 50% shareholder returns (dividends, buybacks) from balanced capital allocation.