Delta Air Lines Earnings: Profit Flies Higher Year-Over-Year

Delta Air Lines Inc. (NYSE:DAL) reported its results for the third quarter. Delta Air Lines operates as an airline, providing scheduled air transportation for passengers and cargo throughout the United States and around the world.

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Delta Air Lines Inc. Earnings Cheat Sheet

Results: Net income for Delta Air Lines Inc. rose to $1 billion ($1.23 per share) vs. $549 million (65 cents per share) in the same quarter a year earlier. This marks a rise of 82.1% from the year-earlier quarter.

Revenue: Rose 1.1% to $9.92 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Delta Air Lines Inc. reported adjusted net income of 90 cents per share. By that measure, the company fell short of mean estimate of 91 cents per share. It beat the average revenue estimate of $9.68 billion.

Quoting Management: “Delta’s strong September quarter results combined with industry-leading operations and customer service reflect an improved industry structure and our consistent investment in the business; we will continue on this path as we progress into 2013,” said Richard Anderson, Delta’s chief executive officer. “With a more stable financial foundation, we have moved our focus beyond short-term profit gains to positioning ourselves for long-term margin expansion, sustained profitability and shareholder returns. I want to thank Delta employees worldwide for their dedication and determination as we continue the hard work of building a better airline.”

Key Stats:

Revenue has risen for the last four quarters. Revenue increased 6.3% to $9.73 billion in the second quarter. The figure rose 8.6% in the first quarter from the year earlier and climbed 7.8% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 69 cents versus a mean estimate of net income of 68 cents per share.

The company reported a profit last quarter after being in the red the prior quarter. In the first quarter, the company booked a net loss of $124 million, or a loss of 15 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 52 cents a share to 34 cents over the last ninety days. The average estimate for the fiscal year is $1.90 per share, down from $2.35 ninety days ago.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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