Delta delivered its highest quarterly revenue and profitability in its history

Delta Air Lines today reported financial results for the second quarter and provided its outlook for the third quarter 2023.

“Thanks to the incredible work of our entire team, Delta is delivering for our customers by providing strong operational performance and best in class service during this busy summer period. With this performance, we generated record revenue and profitability in the June quarter. Our people are the best professionals in the industry, and I’m proud to recognize their achievements with $667 million in the first half toward next year’s profit-sharing payment,” said Ed Bastian, Delta’s Chief Executive Officer. “Consumer demand for air travel remains robust. Against this constructive backdrop, we are increasing our 2023 earnings guidance to $6 to $7 per share and reiterating our recently updated outlook for $3 billion of free cash flow.”

SECOND QUARTER 2023 GAAP FINANCIAL RESULTS

Record operating revenue of $15.6 billion
Record operating income of $2.5 billion with an operating margin of 16.0 percent
Pre-tax income of $2.3 billion with a pre-tax margin of 14.9 percent
Earnings per share of $2.84
Operating cash flow of $2.6 billion
Payments on debt and finance lease obligations of $1.8 billion
Total debt and finance lease obligations of $20.2 billion at quarter end

SECOND QUARTER 2023 ADJUSTED FINANCIAL RESULTS

Record operating revenue of $14.6 billion, 19 percent higher than the June quarter 2022
Record operating income of $2.5 billion with an operating margin of 17.1 percent
Pre-tax income of $2.2 billion with a pre-tax margin of 15.2 percent
Earnings per share of $2.68
Operating cash flow of $2.6 billion
Free cash flow of $1.1 billion
Adjusted net debt of $19.8 billion at quarter end