NEW YORK (TheStreet) -- Delta Air Lines (DAL - Get Report) shares are up 2.4% to $33.16 on Thursday after the airline reported its third quarter earnings results before the opening bell today.

The airline reported adjusted third quarter earnings of $1.20 per diluted share, 2 cents better than analysts were expecting, but 21 cents lower than the $1.41 it reported during the same period last year.

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The company said its non adjusted earnings decline is due to one time charges including the retiring of older planes from its fleet. 

Operating revenues for the quarter rose 7% over the previous year to $11.18 billion, topping analysts estimates of $11.12 billion.

TheStreet Ratings team rates DELTA AIR LINES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate DELTA AIR LINES INC (DAL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels, solid stock price performance, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

DAL Chart DAL data by YCharts

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