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Jun 30, 2024
Delta Q2 2024 Earnings Report
Delta reported record June quarter revenue with mid-teens operating margin and strong cash generation.
Key Takeaways
Delta Air Lines reported record June quarter revenue and pre-tax income of $2 billion with a 15 percent operating margin. The company is reiterating its full year guide for EPS of $6 to $7 and free cash flow of $3 to $4 billion.
Delivered industry-leading operational performance, underpinning trusted brand and customer loyalty
Achieved record June quarter revenue with mid-teens operating margin and strong cash generation
Continued debt repayment, progressing balance sheet toward investment grade metrics
Announced a 50 percent increase to dividend payment beginning in September quarter
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the September quarter, Delta expects a double-digit operating margin and a pre-tax profit of approximately $1.5 billion. The company remains confident in its full-year guidance.
Positive Outlook
- Peak summer travel demand remains strong
- Delta is delivering elevated experiences for its customers
- Diverse revenue streams, including premium and loyalty, contributed higher growth and margins
- International network and core hubs approach full restoration
- Returning to a normal cadence of retiring aircraft
Challenges Ahead
- Capacity growth is decelerating into the second half
- Expect September quarter capacity growth of 5 to 6 percent
- Expect revenue growth of 2 to 4 percent
- Expect non-fuel unit costs to increase 1 to 2 percent year-over-year as capacity growth moderates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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