Delta Flying High Going Into 2018
No-moat Delta Air Lines held its investor day on Dec 14. During the event the carrier provided a bullish outlook on fourth-quarter unit revenues and gave 2018 guidance. Delta jettisoned its 16%-18% operating margin target and is now trying to shift investor attention to EPS growth. Shares jumped roughly 3%, and we plan to make some refinements to our model but don’t anticipate a change to our $63 fair value estimate.Delta’s fourth-quarter forecast includes unit revenue growth of about 4%, whic...
Delta Air Lines provides scheduled air transportation for passengers and cargo. The company serves the Transatlantic, Transpacific and Latin America markets directly on the company and through joint ventures with airline partners. Internationally, the company has hubs and market presence in Amsterdam, London-Heathrow, Mexico City, Paris-Charles de Gaulle and Seoul-Incheon. These arrangements are commercial joint ventures that include joint sales and marketing coordination, co-location of airport facilities and other commercial cooperation arrangements. The company has other businesses arising from its airline operations, including providing maintenance and engineering support for its regional aircraft.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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