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Delta Air Lines reports Q3 results; anticipates strong Q4

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Delta Air Lines reports Q3 results; anticipates strong Q4
Policy
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Heather Wingate, Senior Vice President – Government Affairs | Delta Air Lines

Delta Air Lines has announced its financial results for the September quarter of 2024 and shared projections for the upcoming December quarter. The airline reported significant operational and financial achievements so far this year, including an anticipated record revenue and an operating margin between 11% to 13% for the December quarter. Delta's Return on Invested Capital surpassed its cost of capital by five points, leading to an upgrade in its credit rating by Fitch.

Ed Bastian, Delta's Chief Executive Officer, credited the entire team for maintaining industry leadership both operationally and financially. "Thanks to the exceptional work of the entire Delta team, we continue to lead the industry operationally and financially, with a double-digit operating margin and nearly $3 billion of free cash flow generation year-to-date. In recognition of the outstanding efforts of our employees this year, we have accrued almost $1 billion of profit sharing towards the upcoming February payout," he stated.

Looking ahead, Bastian expressed optimism about finishing the year on a strong note due to favorable industry conditions and robust travel demand. "With an improving industry backdrop and strong demand for travel on Delta, we are positioned to finish the year strong. We expect our December quarter pre-tax profit to grow 30% over last year to $1.4 billion, which would mark one of the most profitable fourth quarters in our history."

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For the September quarter, Delta reported GAAP financial results with an operating revenue of $15.7 billion and an operating income of $1.4 billion at an operating margin of 8.9%. The pre-tax income stood at $1.6 billion with a pre-tax margin of 10%, while earnings per share were recorded at $1.97.

The company also generated an operating cash flow of $1.3 billion during this period and made payments on debt and finance lease obligations amounting to $263 million. By the end of the quarter, total debt and finance lease obligations were noted at $17.7 billion.

Delta Air Lines emphasized that forward-looking statements in their release should be considered under relevant securities acts as they involve various risks and uncertainties that may affect actual outcomes.

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