Monroe Energy posts big profits on back of declining fuel prices

Earnings of US airlines have surged in the previous year due to fuel costs plummeting. (DAL) is scheduled to report its third-quarter financial performance before the markets open on Wednesday.

Revenues decreased 0.6% year over year to $11,107 million in the reported quarter, short of the Zacks Consensus Estimate of $11,118 million. Passenger unit revenue in the fourth quarter is projected to decline in the band of 2.5% to 4.5%.

Shares of Delta Air Lines rose as much as 1.59% to $48.50 per share in premarket trading this morning. The shares were sold at an average price of $42.52, for a total value of $3,189,000.00.

“We do think that the aircraft market is going to be ripe for Delta over the course of the next 12 to 36 months”, Anderson said. The company returned $532 million to its owners through $107 million of dividends and $425 million of share repurchases, while also strengthening its balance sheet by reducing its adjusted net debt to $6.4 billion.

During the quarter, Delta returned $532 million to its shareholders through dividends ($107 million) and buybacks ($425 million). Separately, on October 2, Cowen’s Helane Becker reiterated a Buy rating on the stock. System capacity is expected to be flat on a year-over-year basis. JetBlue, Alaska Air and SkyWest plunged Tuesday following cautious comments from analysts. Wolfe Research upgraded Delta Air Lines from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a report on Friday, June 19th. The stock’s 50 day moving average price is $45.96 and its 200-day moving average price is $44.49.

Delta Air Lines (NYSE:DAL) led off earnings season for the airline industry on Wednesday with a stellar quarterly report. 15,050,197 shares of the company traded hands. Analysts had been expecting earnings of $4.57 per share and revenue of $2.82 billion. (DAL) has reported a 268.35 percent jump in profit for the quarter ended September.

Delta, United and American airlines and the Air Line Pilots Association are pressing the administration for a freeze in the number of flights to the U.S.by Persian Gulf airlines Emirates, Etihad and Qatar. The industry spent nearly $26.5 million on lobbying last year, according to the political money website OpenSecrets.org. Three days after Boehner announced he was resigning from Congress, airline CEOs and lobbyists flocked to a fundraiser for Majority Leader Kevin McCarthy, R-Calif., who at the time was seen as Boehner’s most likely successor.

Delta is the first of the big United States airlines to report third quarter earnings, and though cargo has become a less important revenue driver, carriers are seeking incremental business because of weakness in yields from their core passenger business.

Delta Air Lines, Inc. gives arranged air transportation to travelers and payload around the world.

Canaccord Genuity Inc analyst Ken Herbert said in a research note that he believes a production cut on the 777 is coming on the heels of a recent cut in Airbus A330 rates.

Delta has moved to blunt the effects from weak demand overseas and the growth of USA discounters including Southwest Airlines Co. and Spirit Airlines Inc. While the company hasn’t been immune to the shaky unit revenue environment in 2015, it was able to post strong profit growth in Q3, thanks to the benefit of lower fuel prices.