Delta Air Lines has reported financial results for the June quarter and provided its outlook for the September quarter 2023.
Ed Bastian, Delta’s chief executive officer said: “Thanks to the incredible work of our entire team, Delta is delivering for our customers by providing strong operational performance and best in class service during this busy summer period.
“With this performance, we generated record revenue and profitability in the June quarter. Our people are the best professionals in the industry, and I’m proud to recognise their achievements with US$667million in the first half toward next year’s profit-sharing payment.”
He further revealed: “Consumer demand for air travel remains robust. Against this constructive backdrop, we are increasing our 2023 earnings guidance to US$6 – US$7 per share and reiterating our recently updated outlook for US$3billion of free cash flow.”
June Quarter 2023 GAAP Financial Results
- Record operating revenue of US$15.6billion
- Record operating income of US$2.5billion with an operating margin of 0 percent
- Pre-tax income of US$2.3billion with a pre-tax margin of 9 percent
- Earnings per share of US$2.84
- Operating cash flow of US$2.6billion
- Payments on debt and finance lease obligations of US$1.8billion
- Total debt and finance lease obligations of US$20.2billion at quarter end
June Quarter 2023 Adjusted Financial Results
- Record operating revenue of US$14.6billion, 19 percent higher than the June quarter 2022
- Record operating income of US$2.5billion with an operating margin of 1 percent
- Pre-tax income of US$2.2billion with a pre-tax margin of 2 percent
- Earnings per share of US$2.68
- Operating cash flow of US$2.6billion
- Free cash flow of US$1.1billion
- Adjusted net debt of US$19.8billion at quarter end
