Delta Airlines Announces $2.2bn Pre-Tax Income in Q2 2023

Delta Airlines grew revenue in the second quarter ended June 30, 2023, according to the company financial report released this week.

The airline posted operating revenue of $14.6 billion, representing a 19 percent increase when compared to the same quarter in 2022.

Also, the operating income surged by 17.1 percent to an impressive $2.5 billion, while pre-tax income expanded to $2.2 billion and its earnings per share stood at $2.68 by the end of the quarter.

Commenting on the company’s performance, Delta’s Chief Executive Officer, Ed Bastian, attributed the quarter’s growth to staff’s exceptional dedication and hard work.

He said, “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.”

Bastian also increased their 2023 earnings forecast on the strength of robust air travel, saying, “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 $3bn of free cash flow.”

“We delivered record revenue in the June quarter, with total revenues 19 percent higher than the June quarter of 2022. These results reflect the strength of the demand environment, the hard work of our people and the momentum of Delta’s brand,” said Glen Hauenstein, Delta’s president.

“Robust demand is continuing into the September quarter where we expect total revenue to be similar to the June quarter, up 11 percent to 14 percent compared to the September quarter 2022 on capacity that is 16 percent higher,” he added.