Delta Air Lines, Inc. (NYSE: DAL) went skyward Thursday on quarterly earnings reports.
The Atlanta-based airline company reported adjusted pre-tax income for the September quarter 2018 of $1.6 billion, and adjusted earnings per share were $1.80, at the high end of guidance.
Adjusted earnings per share were up 16% compared to the prior year quarter, driven by revenue momentum, tax reform benefits and a four percent lower share count. Results reflect a $30-million negative impact from Hurricane Florence.
Operating revenue came in at $11.9 billion, compared to $11 billion in the prior-year quarter.
Experts had the company pegged as having earned $1.77 per share on revenue of $11.97 billion in the latest quarter.
Said CEO Ed Bastian “Our solid 8% revenue growth, combined with flat non-fuel unit cost performance, helped offset 85% of the $655 million fuel cost increase in the quarter. These achievements are a testament to the strength of the Delta business model and the hard work of the Delta people, and I am pleased to recognize their performance with an additional $395 million toward 2018 profit sharing.
“Our commercial momentum and improved cost trajectory give us confidence that we are on a path to deliver continued top-line growth and expand margins as we move into 2019.”
Total unit revenues excluding refinery sales (TRASM) increased 4.3% during the period driven by strong demand and improving yields. Foreign exchange benefit of approximately half a point was offset by Florence’s impact.
Shares took flight $2.25, or 4.5%, to $51.96.
This article provided by NewsEdge.