Delta Air Lines Inc.’s stock jumped 1.9% in premarket trade Thursday, after the air carrier beat first-quarter profit expectations. Earnings rose to $946 million, or $1.21 a share, from $746 million, or 90 cents a share, in the same period a year ago. Excluding non-recurring items, such as mark-to-market adjustments on fuel hedges, adjusted earnings per share were $1.32, above the FactSet consensus of $1.30. Revenue slipped 1.5% to $9.25 billion, just shy of the FactSet consensus of $9.27 billion, as a rise in domestic passenger revenue was offset by declines in international passenger revenue and cargo revenue. Passenger unit revenue fell 4.6%, as capacity increased 2.7%. For the second quarter, Delta expects passenger unit revenue to decline 2.5% to 4.5% while system capacity is seen increasing 2% to 3%. The stock has lost 5.2% year to date through Wednesday, while the S&P 500 has gained 1.9%.
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