Delta Airlines announced that as operating margins appear set to reach the top of the company’s previous guidance of 9-11%, the company expects it will see adjusted earnings per share fall somewhere in the range of $1.35-$1.40, well above the previously forecasted range of $1.00-$1.25.

Ahead of an investor relations event in New York where he will speak, Delta Air Lines CEO Ed Bastian said in a statement, “Demand for air travel remains robust as we exit the year and Delta’s momentum is building. Our 2023 outlook for 15 to 20 percent revenue growth over 2022 and margin expansion support a near doubling of EPS to $5 to $6 per share, keeping us on track for our 2024 earnings target of over $7 per share.”

Delta stock soared as the news broke.

Although the company raised its earnings per share guidance, revenue guidance was narrowed.

In the December quarter, Delta expects adjusted operating revenue to be about $12.3 billion. That would be a growth range of 7-8% over its 2019 results. The company’s original forecast predicted growth would fall in the range of 5-9%.

Delta also gave insight into how its efforts to re-establish its pre-pandemic capacity are going.

The company reiterated that it is on target to restore its network to full operations in 2023. The company had expected to be operating the airline at 92% of its comparable 2019 capacity by the end of the holiday travel season, according to management’s forecast at the end of the September quarter.

After the frustrations seen at airports in the airline’s busiest period of the year in, summer of 2022, achieving full capacity operations by mid 2023 may take some of the pressure off passengers during the next summer season.

CEO Bastian and Chief Financial Officer Dan Janki are set to speak with shareholders at the upcoming event in New York about the airline’s plan to advance the company from its 7.7% operating margins in 2022, towards 10-12% in 2023, and 13-15% by 2024.