Delta Air Lines reported financial results for the March quarter and provided its outlook for the June quarter.
“Thanks to the extraordinary work of our 100,000 people, Delta is delivering the best operational reliability in our history, and we have widened the gap to our competitors. We were thrilled to recognize their efforts with $1.4 billion in profit sharing payouts during the quarter,” said Ed Bastian, Delta’s Chief Executive Officer.
“For the March quarter, we delivered record revenue on outstanding operational performance, enabling strong earnings growth. We anticipate continued strong momentum for our business, and in the June quarter, we expect to deliver record revenue, a mid-teens operating margin and earnings of $2.20 to $2.50 per share. We remain confident in our full year targets for earnings of $6 to $7 per share and free cash flow of $3 to $4 billion.”
March Quarter 2024 GAAP Financial Results
Operating revenue of $13.7 billion
Operating income of $614 million with an operating margin of 4.5 percent
Pre-tax income of $122 million with a pre-tax margin of 0.9 percent
Earnings per share of $0.06
Operating cash flow of $2.4 billion
Payments on debt and finance lease obligations of $712 million
Total debt and finance lease obligations of $19.4 billion at quarter end
March Quarter 2024 Adjusted Financial Results
Operating revenue of $12.6 billion, 6 percent higher than the March quarter 2023
Operating income of $640 million with an operating margin of 5.1 percent
Pre-tax income of $380 million with a pre-tax margin of 3.0 percent
Earnings per share of $0.45
Operating cash flow of $2.5 billion
Free cash flow of $1.4 billion
Adjusted debt to EBITDAR of 2.9x, down from 3.0x at the end of 2023
Return on invested capital of 13.8 percent on a trailing five quarter average, up 2.8 points over prior year.
The article Delta Air Lines announces operating revenue of $13.7bn for March Quarter 2024 first appeared in TravelDailyNews International.