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Delta: $2 billion of free cash flow and profitability in H1 2022

Delta: $2 billion of free cash flow and profitability in H1 2022
Delta Air Lines CEO Ed Bastian
Written by Harry Johnson

For September quarter, Delta expects an adjusted operating margin of 11 to 13%, supporting the outlook for meaningful full year profitability

Delta Air Lines on Wednesday reported financial results for the June quarter of 2022 and provided its outlook for the September quarter of 2022. Highlights of the June quarter 2022 results, including both GAAP and adjusted metrics, can be found below.

“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 Delta Air Lines CEO Ed Bastian.

“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 an operating margin of 11%
  • 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 

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  • Operating revenue of $12.3 billion, 99% recovered versus June quarter 2019 on 82% capacity restoration
  • Operating income of $1.4 billion with operating margin of 11.7%, 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
  • $13.6 billion in liquidity and adjusted net debt of $19.6 billion

Delta Air Lines, Inc., typically referred to as Delta, is one of the major airlines of the United States and a legacy carrier.

One of the world’s oldest airlines in operation, Delta is headquartered in Atlanta, Georgia.

The airline, along with its subsidiaries and regional affiliates, including Delta Connection, operates over 5,400 flights daily and serves 325 destinations in 52 countries on six continents.

Delta is a founding member of the SkyTeam airline alliance.

Delta has nine hubs, with Atlanta being its largest in terms of total passengers and number of departures.

It is ranked second among the world’s largest airlines by number of scheduled passengers carried, revenue passenger-kilometers flown, and fleet size. It is ranked 69th on the Fortune 500.

The company slogan is “Keep Climbing.”

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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