Delta Air Lines announces June quarter 2023 financial results

Delivered the highest quarterly revenue and profitability in Delta’s history Strong June quarter operating cash flow enabled accelerated debt reduction.

Expect record September quarter revenue, mid-teens operating margin, and EPS of $2.20 - $2.50.

Raising full-year EPS outlook to $6 - $7 and reiterating free cash flow guide of $3 billion.

Delta Air Lines (NYSE: DAL) today reported financial results for the June quarter and provided its outlook for the September quarter of 2023.

Ed Bastian, Delta's chief executive officer said, "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.”

He further revealed, “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.”

June Quarter 2023 GAAP Financial Results

1. Record operating revenue of $15.6 billion

2. Record operating income of $2.5 billion with an operating margin of 16.0 percent

3. Pre-tax income of $2.3 billion with a pre-tax margin of 14.9 percent

4. Earnings per share of $2.84

5. Operating cash flow of $2.6 billion

6. Payments on debt and finance lease obligations of $1.8 billion

7. Total debt and finance lease obligations of $20.2 billion at quarter end

June Quarter 2023 Adjusted Financial Results

1. Record operating revenue of $14.6 billion, 19 percent higher than the June quarter of 2022

2. Record operating income of $2.5 billion with an operating margin of 17.1 percent

3. Pre-tax income of $2.2 billion with a pre-tax margin of 15.2 percent

4. Pre-tax income of $2.2 billion with a pre-tax margin of 15.2 percent

5. Operating cash flow of $2.6 billion

6. Free cash flow of $1.1 billion

7. Adjusted net debt of $19.8 billion at quarter end

June Quarter Results







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