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Q3 at Delta: $1.6 Billion profit, $431 million higher than last Q3

General Lee

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Delta Air Lines Announces September Quarter Profit
PR Newswire Delta Air Lines

ATLANTA, Oct. 16, 2014 /PRNewswire/ -- Delta Air Lines (DAL) today reported financial results for the September 2014 quarter. Key points include:

Delta's pre-tax income for the September 2014 quarter was $1.6 billion, excluding special items1, an increase of $431 million over the September 2013 quarter on a similar basis. Delta's net income for the September 2014 quarter was $1.0 billion, or $1.20 per diluted share, and its operating margin was 15.8 percent, excluding special items.

On a GAAP basis including special items, Delta's pre-tax income was $579 million, operating margin was 7.5 percent and net income was $357 million, or $0.42 per diluted share.

Results include $384 million in profit sharing expense in recognition of Delta employees' contributions toward achieving the company's financial goals, which makes a year-to-date profit sharing accrual of $823 million.

Delta generated $910 million of free cash flow during the September 2014 quarter. The company used its strong cash generation in the quarter to reduce its adjusted net debt to $7.4 billion and return $325 million to shareholders through dividends and share repurchases.
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"With another record profit, solid margin expansion and nearly $1 billion of free cash flow, Delta's results are consistent with high-quality S&P 500 industrials," said Richard Anderson, Delta's chief executive officer. "While we have more work ahead of us to achieve our long-term financial goals, we expect a record fourth quarter of 2014 with an operating margin of 10-12%. For the full year, we expect a pre-tax profit in excess of $4 billion. We have the right foundation in place for an even stronger 2015, proven strategies for Delta, and 80,000 Delta employees who are the very best in the industry."

Revenue Environment
Delta's operating revenue improved 7 percent, or $688 million, in the September 2014 quarter compared to the September 2013 quarter, driven by continued strength in corporate and domestic revenues. Traffic increased 3.7 percent on a 3.2 percent increase in capacity.

Passenger revenue increased 6 percent, or $522 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 2.4 percent year-over-year with a 1.9 percent improvement in yield. Seat-related products and other merchandising initiatives increased revenues by nearly $50 million versus the prior year period.

Cargo revenue increased 7 percent, or $15 million, on higher freight yields and volumes.Other revenue increased 15 percent, or $151 million, driven by joint venture, SkyMiles revenues, and third-party refinery sales.





Bye Bye---General Lee
 

freightdogfred

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Not surprising. Delta's turned into a juggernaut, with a world class CEO who's made some smart business decisions. The demise of Airtran has allowed them to increase yield substantially in ATL and they provide a very high quality product. They hit their own 15% ROIC without even flexing. It's impossible to get a seat on them out of Atlanta, even getting a jumpseat on them is tuff these days. Good for them, bad for me.
 

BILL LUMBERG

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Cue the haters in 3....2......1.....
 

Saluki Dawg

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Another great Quarter. I agree with Fred. Great CEO, excellent product, and a well executed operation. Congrats on another strong Quarter.
 

skywiz

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Delta Air Lines Announces September Quarter Profit
PR Newswire Delta Air Lines

ATLANTA, Oct. 16, 2014 /PRNewswire/ -- Delta Air Lines (DAL) today reported financial results for the September 2014 quarter. Key points include:

Delta's pre-tax income for the September 2014 quarter was $1.6 billion, excluding special items1, an increase of $431 million over the September 2013 quarter on a similar basis. Delta's net income for the September 2014 quarter was $1.0 billion, or $1.20 per diluted share, and its operating margin was 15.8 percent, excluding special items.

On a GAAP basis including special items, Delta's pre-tax income was $579 million, operating margin was 7.5 percent and net income was $357 million, or $0.42 per diluted share.

Results include $384 million in profit sharing expense in recognition of Delta employees' contributions toward achieving the company's financial goals, which makes a year-to-date profit sharing accrual of $823 million.

Delta generated $910 million of free cash flow during the September 2014 quarter. The company used its strong cash generation in the quarter to reduce its adjusted net debt to $7.4 billion and return $325 million to shareholders through dividends and share repurchases.
.
"With another record profit, solid margin expansion and nearly $1 billion of free cash flow, Delta's results are consistent with high-quality S&P 500 industrials," said Richard Anderson, Delta's chief executive officer. "While we have more work ahead of us to achieve our long-term financial goals, we expect a record fourth quarter of 2014 with an operating margin of 10-12%. For the full year, we expect a pre-tax profit in excess of $4 billion. We have the right foundation in place for an even stronger 2015, proven strategies for Delta, and 80,000 Delta employees who are the very best in the industry."

Revenue Environment
Delta's operating revenue improved 7 percent, or $688 million, in the September 2014 quarter compared to the September 2013 quarter, driven by continued strength in corporate and domestic revenues. Traffic increased 3.7 percent on a 3.2 percent increase in capacity.

Passenger revenue increased 6 percent, or $522 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 2.4 percent year-over-year with a 1.9 percent improvement in yield. Seat-related products and other merchandising initiatives increased revenues by nearly $50 million versus the prior year period.

Cargo revenue increased 7 percent, or $15 million, on higher freight yields and volumes.Other revenue increased 15 percent, or $151 million, driven by joint venture, SkyMiles revenues, and third-party refinery sales.





Bye Bye---General Lee

Nicely done General/Delta. Now go get one hell of a contract so that APA can use that to help improve ours. We are all counting on you! Maybe the roles may be reversed in the future and we can help u out too.
 

General Lee

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Nicely done General/Delta. Now go get one hell of a contract so that APA can use that to help improve ours. We are all counting on you! Maybe the roles may be reversed in the future and we can help u out too.

I agree. Hopefully that will happen.


Bye Bye---General Lee
 

800Dog

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Delta will offer us 6-8% date of signing and 3-4% a year. As usual, 60% will vote yes and 40% no. Pilots need to keep in mind we gave the most and were the ONLY employee group to have it's DB plan terminated. Tired of the argument if we get x then the other employee groups must get it as well.....
 

General Lee

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The general voted yes as soon as she saw this....

With about $4 billion in profits this year, and even more next year due to lower oil prices, I think not. But thanks for thinking about me...... Appreciate it...


Bye Bye---General Lee
 

General Lee

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Hi Loser, looks like your article about the refinery was posted in April of this year. Here is a quote from the most recent conference call a couple days ago. The CFO is responding to a question from an analyst about the refinery:

"Hi, Linda, this is Paul Jacobson. We, that was guidance for the fourth quarter, so we produced a $19 million profit in the third quarter and we anticipate approximately a $20 million profit for the fourth quarter, the team up there is doing a fabulous job of running the plant and they?re keeping it up and operational."




Good try Loser!



Bye Bye---General Lee
 

RJLoser

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I think DL is doing a great job. I think all the competitors appreciate the savings on fuel.
 

General Lee

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I think DL is doing a great job. I think all the competitors appreciate the savings on fuel.

Yes, but you posted an old article that wasn't even close to the latest conference call. The Refinery has been profitable for the September quarter (Q3) and the CFO stated they anticipate a $20 million profit next quarter for the facility. That's good.

Why did you post the old article?



Bye Bye---General Lee
 

Freebrd

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Why did you post the old article?

Bye Bye---General Lee

Hey Jenny, he's just trying to help you get to that 20,000th post! He knows you'll reply to ANYTHING on FI, and you never fail to do so. Man it seems that is all you do is post on FI, but not on APC. Why is that, were you slammed by the monitors over there, huh....:confused:
 

General Lee

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Hey Jenny, he's just trying to help you get to that 20,000th post! He knows you'll reply to ANYTHING on FI, and you never fail to do so. Man it seems that is all you do is post on FI, but not on APC. Why is that, were you slammed by the monitors over there, huh....:confused:

I like correcting people Freeturd, and you and guys like RJLoser make it easy for me. Thanks. And I'm on APC, but not under this name. FI though is a lot more fun thanks to guys like you.



Bye Bye---General Lee
 

General Lee

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Hmm I think there's more to that story Jenny.

Really? APC started a few years ago, and FI over 10 years ago. I didn't need to be GL on two websites. Are you a member over there?


Bye Bye---General Lee
 
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