Delta profit

[GogglesPisano]

Delta Air Lines Announces $158 Million Quarterly Profit and $1.4 Billion Annual Profit, Excluding Special ItemsReports GAAP quarterly profit of $19 million and annual profit of $593 million

ATLANTA, Jan. 18, 2011 /PRNewswire/ -- Delta Air Lines (NYSEAL - News) today reported financial results for the December 2010 quarter. Key points include:


•Delta's net income for the December 2010 quarter was $158 million, or $0.19 per diluted share, excluding special items(1). This is a $383 million improvement year over year.
•Delta's GAAP net income was $19 million, or $0.02 per diluted share, for the December 2010 quarter.
•Delta's net income for 2010 was $1.4 billion, excluding special items. Including $851 million in special items, Delta's net income for 2010 was $593 million.
•2010 results include $313 million in profit sharing expense, including $38 million in the December quarter, in recognition of Delta employees' achievements toward meeting the company's financial targets.
•Delta's adjusted net debt at the end of 2010 was $15.0 billion, a $2.0 billion reduction from prior year.
•Delta ended 2010 with $5.2 billion in unrestricted liquidity.




"Our 2010 results are among the best in Delta's history. They would not have been possible without the dedication and determination of Delta employees worldwide and we are pleased we will pay more than $300 million in profit sharing for 2010," said Richard Anderson, Delta's chief executive officer. "These results are a direct reflection of the success of our merger, cost discipline and debt reduction strategy and give us momentum to deal with the rising fuel prices we face in 2011."

 

[S3sundowner]

Great results and hopefully good times ahead for the industry. Maybe now you can cut back on some of those unconscionable add-on fees for bags, etc.?

 

[Jetjockey]

Or better yet.............reduce outsourcing to regionals.

 

[GuppyWN]

To each his own. If the consumer doesn't REALLY care if they are getting dinged then so be it.

Nice profit. Time to get all the Westies and all the Alaskans back to work!

Gup

 

[nimtz]

Richard Anderson was very good on CNBC this morning. Hearing his comments on the merger being complete just made me realize how screwed up UAL is going to be. No doubt DAL has a CEO that has the pulse of this business. Wish I could say the same about our "CEO of the Year" Vampire at UAL.

 

[i fly boxes]

Good news, only 17 more years like that and they should have all the debt paid off!!!!!!

 

[General Lee]

Good news, only 17 more years like that and they should have all the debt paid off!!!!!!

Not exactly. According to the PRNEWSWIRE article:

Delta's adjusted net debt at the end of 2010 was $15.0 billion, a $2.0 billion reduction from prior year.


So, more like 7 and 1/2 years like that, and the debt should be paid off.



Bye Bye--General Lee

 

[Captainzero1]

According to CNBC, they missed their estimate. does't wall street punish you for that?

 

[Quimby]

To each his own. If the consumer doesn't REALLY care if they are getting dinged then so be it.

Nice profit. Time to get all the Westies and all the Alaskans back to work!

Gup

& the UPS furloughees

 

[nwaf16dude]

According to CNBC, they missed their estimate. does't wall street punish you for that?

Yep...down 82 cents so far today.

 

[Stifler's Mom]

Yep...down 82 cents so far today.

A quick glance around the market shows nearly all of the Airline stocks taking losses today (some big) on Delta missing earnings. American announces their earnings tomorrow, and hopefully beats estimates.

AMR -3.68%
SKYW -3.57%
RJET -4.77%
UAL -.83%
LUV -.76%
ALK -2.50%
JBLU -3.2%

Depends on how you look at it I guess. Sucks if you own airline stocks currently, or this may be a good opportunity to get in on some discounted stock.

 

[say again]

Lets hope the big profits continue!!!

 

[Full of LUV]

A quick glance around the market shows nearly all of the Airline stocks taking losses today (some big) on Delta missing earnings. American announces their earnings tomorrow, and hopefully beats estimates.

AMR -3.68%
SKYW -3.57%
RJET -4.77%
UAL -.83%
LUV -.76%
ALK -2.50%
JBLU -3.2%

Depends on how you look at it I guess. Sucks if you own airline stocks currently, or this may be a good opportunity to get in on some discounted stock.

Doesn't help with all the talk of $100 oil. Even DAL said next years fuel bill will likely be significantly higher....

 

[Stifler's Mom]

Doesn't help with all the talk of $100 oil. Even DAL said next years fuel bill will likely be significantly higher....

I'm also wondering how bad these winter snow storms hurt Delta this past quarter too. ATL got killed a few times and took days to recover.

 

[1st Rate]

Good for the guys and gals at Delta! Keep it up!

 

[titans10]

To each his own. If the consumer doesn't REALLY care if they are getting dinged then so be it.

Nice profit. Time to get all the Westies and all the Alaskans back to work!

Gup

Does swa charge for the second check bag?

 

[N1atEcon]

No. First and second bags are free.

 

[titans10]

Just looked at website that is correct. 3 or more bags are 50 each. I also say a 10 buck to be first onboard fee.

 

[General Lee]

Doesn't help with all the talk of $100 oil. Even DAL said next years fuel bill will likely be significantly higher....

Delta actually has a better hedging position than Southwest does right now for 2011, with 40% hedged, and 40% of that at low $80s. Delta also won NON union votes for every other work group other than the pilots, so that saves some money for.........another group.....

Southwest, OTH, has to pay to merge with AT, and then pay all of their employees higher, SWA wages. (which is great for all of us). And, they don't have any bag fees, YET.


Bye Bye---General Lee

 

[General Lee]

I'm also wondering how bad these winter snow storms hurt Delta this past quarter too. ATL got killed a few times and took days to recover.

I think I read DL took a $45 million hit from the storms. Luckily DL has a few different hubs nearby (MEM, CVG) that could take some of the traffic away from ATL, but obviously not every connection. Another positive thing I can think of is middle January usually isn't the busiest time for airtravel, and think of all the gas we didn't have to buy at high prices for those flights! WOW, I am thinking WAY POSITIVE RIGHT NOW.......oh well, I will get a great profit sharing check, though.


Bye Bye---General Lee