Delta Air Lines on Sunday reported financial results for the June quarter and provided its outlook for the September quarter of 2023.
“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 recognize their achievements with $667 million in the first half toward next year’s profit-sharing payment,” said Ed Bastian, Delta’s Chief Executive Officer.
“Consumer demand for air travel remains robust. Against this constructive backdrop, we are increasing our 2023 earnings guidance to $6 to $7 per share and reiterating our recently updated outlook for $3 billion of free cash flow.”
The carrier recorded operating revenue of $15.6 billion with an operating income of $2.5 billion with an operating margin of 16.0 percent.
Highlights of the financial results include pre-tax income of $2.3 billion with a pre-tax 14.9 percent and earnings per share of $2.84.
Other highlights include operating cash flow of $2.6 billion, payments on debts, and finance lease obligations of $1.8 billion.
Total debt and finance lease obligations of $20.2 billion at quarter end were recorded.