October 16, 2014
Delta Air Lines posts September quarter profi of $357m
Delta’s pre-tax income for the September 2014 quarter was $1.6bn, excluding special items, an increase of $431m over the September 2013 quarter on a similar basis. Delta’s net income for the September 2014 quarter was $1.0bn and its operating margin was 15.8%, excluding special items. On a GAAP basis including special items, Delta’s pre-tax income was $579m operating margin was 7.5% and net income was $357m. Results include $384m 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 $823m. Delta generated $910m 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 $7.4bn and return $325m to shareholders through dividends and share repurchases.