Delta Air Lines Reports Strong Financial Performance for March Quarter 2024

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Delta Air Lines announced its financial results for the March quarter and provided an outlook for June. 

The March quarter saw record revenue and strong earnings growth. CEO Ed Bastian credited operational excellence and highlighted $1.4 billion in profit sharing payouts. 

“For the March quarter, we delivered record revenue on outstanding operational performance, enabling strong earnings growth. We anticipate continued strong momentum for our business, and in the June quarter, we expect to deliver record revenue, a mid-teens operating margin and earnings of $2.20 to $2.50 per share. We remain confident in our full year targets for earnings of $6 to $7 per share and free cash flow of $3 to $4 billion.”

Full-year targets remain at $6 to $7 per share earnings and $3 to $4 billion in free cash flow. 

Operating revenue was $13.7 billion with a 4.5 percent operating margin, while adjusted revenue was $12.6 billion, up 6 percent year-over-year, with a 5.1 percent operating margin. 

Operating cash flow was $2.4 billion and $2.5 billion respectively, with adjusted debt to Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent down to 2.9x.

 

 

 

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