Delta Air Lines, Inc. Earnings Cheat Sheet: Profit Slides

Delta Air Lines, Inc. (NASDAQ:DAL) reported its results for the second quarter. Delta Air Lines, Inc. 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 Earnings Cheat Sheet for the Second Quarter

Results: Net income for the airline fell to $198 million (23 cents per share) vs. $467 million (55 cents per share) a year earlier. This is a decline of 57.6% from the year earlier quarter.

Revenue: Rose 12.1% to $9.15 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: DAL reported adjusted net income of 43 cents per share. By that measure, the company fell short of mean estimate of 48 cents per share. Analysts were expecting revenue of $9.16 billion.

Quoting Management: “High fuel prices are putting significant pressure on the industry, but the benefits of Delta’s strategic actions and the dedication of Delta employees are evident in the solid profit we produced despite more than $1 billion in higher fuel expense,” said Richard Anderson, Delta’s chief executive officer. “Our revenue momentum, coupled with the capacity reductions we are making in September and actions to get our non-fuel costs to 2010 levels, will generate the margins we need to hit our return targets.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 14.9%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 18.2% from the year earlier quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with a loss of 38 cents versus a mean estimate of a loss of 50 cents per share.

Competitors to Watch: AMR Corporation (NYSE:AMR), United Continental Hldgs., Inc. (NYSE:UAL), Alaska Air Group, Inc. (NYSE:ALK), US Airways Group, Inc. (NYSE:LCC), Southwest Airlines Co. (NYSE:LUV), JetBlue Airways Corp. (NASDAQ:JBLU), AirTran Holdings, Inc. (NYSE:AAI), Hawaiian Holdings, Inc. (NASDAQ:HA), SkyWest, Inc. (NASDAQ:SKYW).

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(Source: Xignite Financials)

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