Delta Announces December Quarter and Full Year 2022 Profit

Delta Air Lines has reported financial results for the December quarter and full year of 2022 and provided its outlook for the March quarter of 2023.  Highlights of the December quarter and full-year 2022 results, including both GAAP and adjusted metrics, are highlighted.

“Delta people rose to the challenges of 2022, delivering industry-leading operational reliability and financial performance, and I’m looking forward to recognizing their achievements with over $500 million in profit-sharing payments next month,” said Ed Bastian, Delta’s chief executive officer.

“As we move into 2023, the industry backdrop for air travel remains favorable and Delta is well positioned to deliver significant earnings and free cash flow growth.  We expect to grow 2023 revenue by 15 to 20 percent and improve unit costs year-over-year, supporting a full-year outlook for earnings of $5 to $ 6 per share and keeping us on track to achieve more than $7 of earnings per share in 2024.”

READ ALSO:  Overland lauds FG on Abuja airport runway repairs, resumes services to FCT


Delta Air

The carrier puts an operating revenue of $13.4 billion, an operating income of $1.5 billion an operating margin of 10.9 percent

It made a pre-tax income of $1.1 billion with a pre-tax margin of 8.3 percent, earnings per share of $1.29 operating cash flow of $1.2 billion, and payments on debt and finance lease obligations of $285 million.

“Industry-leading operations and the best-in-class service our people provided drove strong customer satisfaction scores and increasing brand preference in 2022,” said Glen Hauenstein, Delta’s president.

“For the year we delivered $45.6 billion in adjusted revenue, a $19 billion increase over the prior year, with record unit revenue performance expected to sustain a revenue premium to the industry of more than 110 percent.  Momentum continues in 2023 with strong demand trends, and we expect March quarter adjusted revenue to be 14 to 17 percent higher than 2019 on the capacity that is 1 percent lower.”

READ ALSO:  Lufthansa to bolster service to East Africa’s Power House
Wole Shadare