Delta reports record third quarter revenues
Delta Air Lines thursday reported financial results for the September quarter 2022 and provided its outlook for the December quarter 2022.
“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.”
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“With strong demand and 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.
SEPTEMBER QUARTER 2022 ADJUSTED FINANCIAL RESULTS
– Operating revenue of $12.8 billion, 3 percent higher than September quarter 2019, including a $35 million impact from Hurricane Ian.
– 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.
– $11.2 billion in liquidity* andadjusted net debt of $20.5 billion at quarter end.
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