Delta Air Lines (DAL) shares rose in premarket trading Wednesday after the carrier reported record first-quarter revenue, with 澳洲幸运5官方开奖结果体彩网:adjusted income and 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) figures also topping expectations.

Delta posted an 8% year-over-year revenue increase to $13.75 billion, along with adjusted net income of $288 million, or 45 cents per share, well above 澳洲幸运5官方开奖结果体彩网:analyst estimates compiled by Visible Alpha of $13.15 billion, $230.8 million, and 36 cents per share, respectively.

The airline also affirmed its 澳洲幸运5官方开奖结果体彩网:full-year guidance for 2024 of EPS from $6 to $7, and projected second-quarter revenue will also set a company record for the quarter, increasing 5% to 7% from last year's mark of $15.58 billion.

Executives said they expect the strong travel numbers they've seen so far this year to continue into the busier summer travel season, as Delta reported a 澳洲幸运5官方开奖结果体彩网:load factor—the percentage of available seat𝔉ing capacity that is filled with passengers—of 83% for the quarter, up from 81% last year and within the company's pre-pandemic averages of 82% to 88%.

Earlier this month, 澳洲幸运5官方开奖结果体彩网:Morgan Stanley analysts wrote that they believed Delta to be undervalued because the a💎irline's financial and operational performance had largely returned to or had begun to exceed pre-pandemic levels in 2023, but the stock price 𒐪was still below those levels.

The analysts also compared Delta's potential growth arc to that of clothing retailer 澳洲幸运5官方开奖结果体彩网:Abercrombie & Fitch (ANF), which has shifted to focus its business on "premium" or more expensive products, while attracting a wealthier customer base. That's similar to Delta's r🍃ecent shift to making a larger portion of its revenue from Premium progra♌ms.

Delta said Wednesday that its Premium revenue grew 10% from last year's first quarter, and revenue from those offerings is continuing to grow at a faster rate than Delta's Main Cabin airfare. Main Cabin ticket revenue was $5.43 billion, up 4% from last year, while Premium ticket revenue grew 10% to $4.41 billion.

The airline posted about $250 million in 澳洲幸运5官方开奖结果体彩网:mark-to-market losses related to some of the company's investments, settlements, and hedges, meaning it reported $37 million in net income, but $288 million in adjusted net income after accounting for those one-time 🅠charges.🍬

Delta stock jumped 4.6% an hour before the opening bell Wednesday to near $50 a share. It is up 17% on the year and 39% over the last 12 months through Tuesday's closing level of $47.32.