October 22, 2013
Delta Air Lines announces September quarter profit
Delta reported that net profit for the September 2013 quarter was $1.2bn, excluding special items. This result is a $444m improvement year-over-year. Including $157m in special items, Delta’s GAAP net income was $1.4bn. The company began returning capital to shareholders, with $100m in share repurchases and $51m in dividend payments. September quarter results include $249m of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance. Delta generated $1.2bn of operating cash flow and $627m of free cash flow in the September 2013 quarter, and ended the period with adjusted net debt of $9.9bn.