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Delta: Q2 Earnings Snapshot
Delta’s strong revenue and cash flow have lifted expectations as it prepares to report second-quarter results before the market opens Friday.
Delta Air Lines Inc. reported second-quarter profit of $1.6 billion on Friday, topping Wall Street expectations with revenue of $19.76 billion.
Wall Street looked for $1.47 in earnings per share on $18.57 billion in revenue, while the carrier previously set a target to lead the industry with about $1 billion in profit for the June-quarter.
The Atlanta-based company achieved net income of $2.44 per share, while free cash flow reached $1.2 billion and Delta trimmed adjusted net debt to $13.5 billion.
For the current quarter ending in September, Delta expects per-share earnings to range from $2 to $2.50, with shares trading at roughly 13 times trailing earnings, well below the broader market's multiple.
Escalating Middle East conflict remains a near-term catalyst for airline stocks, as crude oil prices held near $73.50 per barrel on Thursday, presenting ongoing operational challenges.