U.S. Airlines To Take Flight In Q2: Analyst Predicts Strong Results, 10% Operating Margin
U.S. Airlines To Take Flight In Q2: Analyst Predicts Strong Results, 10% Operating Margin
Deutsche Bank analyst Michael Linenberg presented the June quarter preview for the airline industry. The analyst writes that U.S. domestic air travel hit a record high in the first half of 2024, with TSA screenings up 7.4% Y/Y.
德意志银行分析师迈克尔·林伯格为航空行业提供了6月季度预测。分析师写道，美国国内航空旅行在2024年上半年达到了创纪录的高点，TSA筛查同比增长7.4%。
The analyst adds that airlines performed well operationally in the June quarter, showing significant improvement from a year ago.
分析师补充说，航空公司在6月季度的运营表现良好，与一年前相比有了显著改善。
The sector is expected to post strong June quarter results with 4% top-line growth to $62 billion (on 7% more capacity), $6.2 billion operating profit, and an operating margin of ~10%, writes the analyst.
分析师写道，该行业预计在6月季度实现4%的营收增长，总额达到620亿美元（容量增长7%），62亿美元的营业利润和营业利润率约为10%。
However, the analyst projects most of the industry's top-line growth and operating profit to come from full-service carriers.
然而，分析师预计营收增长和营业利润的大部分将来自全服务运营商。
Linenberg expects American Airlines Group Inc. (NASDAQ:AAL), Delta Air Lines, Inc. (NYSE:DAL), and United Airlines Holdings, Inc. (NASDAQ:UAL) to account for 92% of June quarter 2024 top-line growth and 91% of operating profit. The analyst reiterated the Buy rating on these stocks.
林伯格预计美国航空集团股份有限公司（纳斯达克股票代码：AAL）、达美航空公司（纽约证券交易所股票代码：DAL）和联合大陆航空公司（纳斯达克股票代码：UAL）将占2024年6月季度营收增长的92%，和91%的营业利润。分析师重申对这些股票的买入评级。
In summary, the analyst supports United Airlines and Delta Airline's full-year EPS outlooks ($9 – $11 and $6 – $7, respectively) but expects American Airlines to lower its 2024 EPS guidance (currently $2.25 – $3.25) vs. estimate of $2.00.
总的来说，分析师支持联合航空和达美航空的全年每股收益预期（分别为9美元–11美元和6美元–7美元），但预计美国航空将低于其2024年每股收益指引（目前为2.25美元–3.25美元），预计为2.00美元。
Read: United Airlines Flight Emergency Landing Adds To String Of Safety Incidents: Report
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On the other hand, the analyst anticipates that many low-fare carriers will report losses despite the strong demand for air travel.
另一方面，分析师预计尽管航空旅行需求强劲，但许多低票价航空公司仍将报告亏损。
Meanwhile, the analyst downgraded Allegiant Travel Company (NASDAQ:ALGT) from Buy to Hold and lowered price target from $75 to $53.
与此同时，分析师将忠诚旅游公司（纳斯达克股票代码：ALGT）的评级从买入降为持有，并将价格目标下调从75美元至53美元。
Also, the analyst lowered the rating for Spirit Airlines, Inc. (NYSE:SAVE) from Hold to Sell and the price target from $3 to $2.
此外，分析师将烈酒航空股份有限公司（纽约证券交易所股票代码：SAVE）的评级从持有降为卖出，将价格目标从3美元降至2美元。
Linenberg writes that Allegiant and Spirit saw substantial earnings reductions for 2024 and beyond due to production challenges amid inflation and external factors like delayed aircraft deliveries and air traffic constraints.
林伯格写道，由于通货膨胀和延迟的飞机交付以及航空交通限制等外部因素，忠诚旅游公司和烈酒航空公司的未来收益量减少很多。
He further adds that Allegiant continues transitioning its Sunseeker resort, likely impacting earnings into 2025. Spirit's ongoing liability management exercise may lead to shareholder dilution, potentially affecting its share price.
他进一步补充说，忠诚旅游公司继续转型其Sunseeker度假村，可能会影响到2025年的收益。其持续的责任管理演习可能会导致股东稀释，可能会影响其股价。
Also Read: Spirit Airlines CFO Haralson Joins Struggling Hertz To Lead Car Rental Firm's Cost-Cutting Efforts
另请阅读：烈酒航空公司首席财务官哈尔森加入陷入困境的赫兹带领削减开支
Overall, Linenberg says that airlines focused on the domestic market and price-sensitive customers will be the first to feel the impact of a slowing economy.
总体而言，林伯格称，专注于国内市场和价格敏感客户的航空公司将首先感受到经济放缓的影响。
Those rapidly expanding and entering new markets face even greater risks and have seen the largest estimate reductions for 2024 and, in some cases, for 2025 and 2026, writes the analyst.
分析师写道，那些迅速扩张并进入新市场的公司面临着更大的风险，对于2024年甚至2025年和2026年的估计，这些公司估计会受到最大的影响。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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