Delta

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<p class="has-drop-cap">Delta Air Lines (NYSE: DAL) has reported its <a aria-label="financial results for the June quarter of 2024 (opens in a new tab)" href="https://ir.delta.com/news/news-details/2024/Delta-Air-Lines-Announces-June-Quarter-2024-Financial-Results/default.aspx" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">financial results for the June quarter of 2024</a>, showcasing a mixed performance. The company achieved a record operating revenue of $16.7 billion, with an adjusted figure of $15.4 billion, reflecting a 5.4% increase from the same quarter last year. <br><br>The operating income stood at $2.3 billion, translating to an operating margin of 14.7%. The pre-tax income was $2 billion, yielding a pre-tax margin of 13.0%. <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">Earnings per share (EPS)</a> were $2.36, aligning with the company’s strong financial health and operational prowess.</p>
<p>Delta’s operational excellence is further highlighted by its cash flow metrics. The operating cash flow for the quarter was $2.5 billion, with free cash flow reaching $1.3 billion. <br><br>The airline also made significant strides in debt reduction, with payments on debt and finance lease obligations amounting to $1.4 billion, bringing the total debt and finance lease obligations down to $18.0 billion. The company’s adjusted debt to EBITDAR ratio improved to 2.8x from 3.0x at the end of 2023, demonstrating a solid balance sheet and financial stability.</p>
<h3 id="delta-airlines-june-quarter-eps-in-line-miss-on-revenue-expectations">Delta Airlines June Quarter EPS in Line, Miss on Revenue Expectations</h3>
<p>When comparing Delta’s current performance to market expectations, the results are mixed. Analysts had anticipated an EPS of $2.36, which Delta matched precisely. <br><br>The company’s reported revenue of $16.7 billion exceeded the expected $15.47 billion, showcasing Delta’s ability to surpass revenue forecasts significantly. Despite this, the GAAP EPS came in at $2.01, below the expected $2.36, indicating some areas where the company fell short of market projections.</p>
<p>The adjusted figures provide a clearer picture of Delta’s performance. The adjusted operating revenue of $15.4 billion was slightly below the expected $15.47 billion, but the adjusted EPS of $2.36 met expectations. <br><br>This alignment with market projections on an adjusted basis suggests that Delta’s core operations are strong, even if some GAAP metrics were impacted by non-operational factors such as mark-to-market adjustments on investments and losses on debt extinguishment.</p>
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<h3 id="delta-airlines-forecasts-third-quarter-eps-between-1-70-and-2-00">Delta Airlines Forecasts Third-Quarter EPS Between $1.70 and $2.00</h3>
<p>Looking ahead, Delta has provided optimistic guidance for the upcoming quarter and the full fiscal year 2024. For the September quarter, the airline expects a double-digit operating margin and a pre-tax profit of approximately $1.5 billion. The forecasted EPS for the third quarter is between $1.70 and $2.00, with total revenue expected to grow by 2% to 4% year-over-year. <br><br>This guidance reflects Delta’s confidence in maintaining its operational efficiency and revenue growth despite potential market challenges.</p>
<p>For the full year 2024, Delta is reiterating its guidance for an EPS range of $6 to $7 and free cash flow of $3 to $4 billion. The company also aims to achieve an adjusted debt to EBITDAR ratio of 2x to 3x, indicating a continued focus on debt reduction and financial health.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/delta-air-lines-misses-revenue-expectations-in-q2-eps-in-line/">Delta Air Lines Misses Revenue Expectations in Q2, EPS in Line</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Delta Air Lines Misses Revenue Expectations in Q2, EPS in Line

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