Delta Air Lines Records Highest Quarterly Revenue, Profitability In History

Delta Airlines has delivered its highest quarterly revenue and profitability in the airline’s history, with strong June quarter operating cash flow enabling accelerated debt reduction.
A strong June quarter operating cash flow enabled accelerated debt reduction and the airline expects record September quarter revenue, mid-teens operating margin and EPS of $2.20 – $2.50. This has raised full year EPS outlook to $6 – $7 and reiterating free cash flow guide of $3 billion.
Delta announced financial results for the June quarter and provided its outlook for the September quarter 2023. Highlights of the June quarter, including both GAAP and adjusted metrics, are on page five and incorporated here.
“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.”