Delta Air Lines has reported financial results for the September quarter 2022 and provided its outlook for the December quarter 2022.
According to the September quarter 2022 Generally Accepted Accounting Principles (GAAP) financial results, Delta Air Lines recorded operating revenue of $14.0 billion.
With operating income of $1.5 billion with an operating margin of 10.4 percent, earnings per share was $1.08.
It further indicated operating cash flow of $869 million; payments on debt and finance lease obligations of $1.8 billion and total debt and finance lease obligations of $23.2 billion at quarter end.
Also September quarter 2022 adjusted financial results showed operating revenue of $12.8 billion, 3 percent higher than September quarter 2019, including a $35 million impact from Hurricane Ian.
There was also operating income of $1.5 billion with an operating margin of 11.6 percent.
Earnings per share of $1.51, including a 3¢ impact from Hurricane Ian. This is in addition to $11.2 billion in liquidity and adjusted net debt of $20.5 billion at quarter.
Commenting on the results, Ed Bastian, Delta’s chief executive officer said “Thanks to the incredible work of our entire team, Delta delivered a strong September quarter with record quarterly revenues and a double-digit operating margin. The travel recovery continues as consumer spend shifts to experiences and demand improves in corporate and international,” said Ed Bastian, Delta’s chief executive officer.
“In this environment, we expect December quarter revenue growth to accelerate versus 2019 with an operating margin of approximately 10 percent.”
“With strong demand uand a return to best-in-class operational performance, we are ahead of our plan for the year on profitability and expect to be free cash flow positive. We’re working towards full network restoration by summer of 2023, which supports a meaningful step up in profitability and cash flow next year on our path to earn over $7 of EPS and $4 billion of free cash flow in 2024,” Bastian said.
About the Author
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
