Delta Reports $1.4 Billion Profit in Third Quarter
This is the financial equivalent of a sonic boom.
Delta Air Lines on Wednesday reported financial results for the September 2015 quarter that included net income of $1.4 billion, or $1.74 per diluted share, up 45 percent over the third 2014 third quarter.
The continued growth from the sector has many analysts eagerly awaiting earnings calls from American and United.
"Despite currency volatility and global economic uncertainty which drove a modest decline in revenues, we expanded operating margins by over five points to 21 percent, grew earnings per share by 45 percent, and generated $1.4 billion of free cash flow in the September quarter as demand remains solid and fuel prices have dropped materially. We expect that strong performance to continue in the December quarter with operating margins of 16 to 18 percent and over 40 percent earnings per share growth," said Richard Anderson, Delta's chief executive officer. "It's an honor to recognize the hard work of 80,000 outstanding Delta employees with over $1 billion of profit sharing accrued so far this year. Our team consistently delivers best-in-class operations and service to our customers, develops innovative solutions with our global partners, and produces strong returns for our shareholders."
Delta saved $1.1 billion in fuel costs during the third quarter, compared with the same period a year ago.
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