Delta stocks are trading 40% off their peak prices despite exceptionally strong performance. The company recorded $45.6 billion in adjusted revenue in 2022 compared to $47 billion in 2019. The operating revenue was at $50.6 billion, including $5 billion from the company’s own refinery. The management expects adjusted revenue to increase by 15-20% in 2023. Earnings per share (EPS) is expected to rise to $5-6 per share by the end of 2023, and above $7 by the end of 2024 compared to $3.2 delivered in 2022. Such forward guidance suggests Delta can recover to its 2019 income level in 2024. However, the company may easily beat its 2019 revenue in 2023 as it is already making income perspectives for 2023 even brighter. The potential of Delta is seen to be underestimated with 2024 EPS consensus at $6.6. But revenue trajectory and better than expected margins may deliver substantially better financial results which will meet management expectations, or even higher. Thus, the company has a good recovery potential.