Delta Air Lines today reported its financial results for the fourth and final quarter of 2022. The American carrier reported a profit between October and December, and ended the year in the black.
«Delta people rose to the challenges of 2022, delivering industry-leading operational reliability and financial performance, and I’m looking forward to recognizing their achievements with over 500 million dollars in profit sharing payments next month», said Ed Bastian, the company’s CEO.
«As we move into 2023, the industry backdrop for air travel remains favorable and Delta is well positioned to deliver significant earnings and free cash flow growth», he added.
Looking ahead, he explained that the company’s guidance calls for revenue growth of 15% to 20% this year. In addition, he said they expect year-on-year unit costs to improve and earnings of between 5 and 6 dollars per share in 2023. «It keeps us on track to achieve more than 7 dollars of earnings per share in 2024», he concluded.
Bastian also remarked that they expect the recent upward trend in tickets demand to continue in the upcoming months and adjusted revenue for the first quarter of 2023 to be 14% to 17% higher than in the same period of 2019. The company’s capacity would be 1% below that reported between January and March last year prior to the start of the pandemic.
Delta Air Lines third quarter 2022 adjusted key financial results
- Operating revenues of 12.3 billion dollars. The figure represents an 8% increase compared to the same quarter in 2019.
- Operating income of 1.4 billion dollars, with an operating margin of 11.6%.
- Pre-tax income of 1.2 billion dollars, with a pre-tax margin of 10.1%.
- Earnings per share of 1.48 dollars.
- Operating cash flow of 1.2 billion dollars.
Delta Air Lines adjusted key financial results for 2022
- Operating revenue of 45.6 billion dollars. This represents a 2% decrease compared to 2019.
- Operating income of 3.6 billion dollars, with an operating margin of 7.8%.
- Pre-tax income of 2.7 billion dollars, with a pre-tax margin of 5.9%.
- Earnings per share of 3.20 dollars.
- Operating cash flow of 6.2 billion dollars.
- Free cash flow of 244 million dollars.
- Liquidity of 9.4 billion dollars (including cash and cash equivalents, short-term investments and undrawn revolving credit facilities).
- Adjusted net debt of 22.3 billion dollars at year-end.
See also: Delta Air Lines files request to operate flights between New York and Buenos Aires
