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Sep 30, 2020
Delta Q3 2020 Earnings Report
Delta's financial performance was significantly impacted by the pandemic, but actions were taken to improve customer experience and simplify the fleet.
Key Takeaways
Delta Air Lines reported a GAAP pre-tax loss of $6.9 billion and a loss per share of $8.47 on total revenue of $3.1 billion for the September quarter 2020. The adjusted pre-tax loss was $2.6 billion, with an adjusted loss per share of $3.30 on adjusted revenue of $2.6 billion. The company ended the quarter with $21.6 billion in liquidity and is focused on cost management and restoring customer confidence.
Adjusted operating revenue decreased by 79% compared to the September 2019 quarter.
Adjusted operating expenses decreased by 52% versus the prior year quarter.
Daily cash burn improved to an average of $18 million for the month of September.
The company raised $9.0 billion through a debt offering secured by its SkyMiles loyalty program.
Forward Guidance
No specific forward guidance was provided in the release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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