Delta Air Lines sets aggressive targets at Capital Market Day event

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• Delta Air Lines (DAL) is presenting its strategic priorities at a Capital Markets Day event hosted today at the New York Stock Exchange in New York City.
• Senior leadership will discuss in Delta how plans to expand its platform to create value over the long term. Highlights include competitive advantages taken by Delta during the pandemic.
• Delta says it expects to deliver meaningful profitability in 2022 on its path to improved earnings power beyond pre-pandemic levels by 2024. The top financial priority is restoring its financial foundation, with a focus on efficiency and cash generation to achieve investment grade metrics by 2024.
• Specific financial targets include revenue of more than $50B in 2024, EPS over $7.00 and free cash flow over $4B. All those marks are ahead of expectations. An adjusted debt/EBITDAR mark of between 2.0X and 3.0X in 2024 is also a goal of the carrier.
• For Q4, Delta (NYSE:DAL) now expects to generate an adjusted pre-tax profit of ~$200M. Only a limited impact from Omicron is noted.
• More updates from Delta on the year ahead are expected later in the day.
• Shares of DAL are up 1.23% premarket to $37.06.
• Delta Air Lines is on Seeking Alpha's Catalyst Watch this week.