Delta Air Lines Announces June Quarter 2022 Profit

14 July 2022 4:01am

Delta Air Lines reported financial results for the June quarter 2022 and provided its outlook for the September quarter 2022. Highlights of the June quarter 2022 results, including both GAAP and adjusted metrics, are on page five and are incorporated here.

"I would like to thank our entire team for their outstanding work during a challenging operating environment for the industry as we work to restore our best-in-class reliability. Their performance coupled with strong demand drove nearly $2 billion of free cash flow as well as profitability in the first half of the year, and we are accruing profit sharing, marking a great milestone for our people,” said Ed Bastian, Delta’s chief executive officer. “For the September quarter, we expect an adjusted operating margin of 11 to 13 percent, supporting our outlook for meaningful full year profitability."

June Quarter 2022 GAAP Financial Results

Operating revenue of $13.8 billion

Operating income of $1.5 billion with operating margin of 11.0 percent

Earnings per share of $1.15

Operating cash flow of $2.5 billion

Total debt and finance lease obligations of $24.8 billion

June Quarter 2022 Adjusted Financial Results

Operating revenue of $12.3 billion, 99 percent recovered versus June quarter 2019 on 82 percent capacity restoration

Operating income of $1.4 billion with operating margin of 11.7 percent, the first quarter of double-digit margin since 2019

Earnings per share of $1.44

Free cash flow of $1.6 billion after investing $864 million into the business

Payments on debt and finance lease obligations of $1.0 billion