Delta Air Lines pre-tax income $2.2 billion
Delta’s adjusted net income was $1.4 billion, or $1.74 per diluted share, up 45 percent from the same quarter of 2014.
On a GAAP basis, pre-tax income totaled $2.1 billion with earnings of $1.65 per share for the quarter.
“Despite currency volatility and global economic uncertainty which drove a modest decline in revenues, we expanded operating margins by over five points to 21 percent, grew earnings per share by 45 percent, and generated $1.4 billion of free cash flow as demand remains solid and fuel prices have dropped materially,” said Richard Anderson, Delta’s chief executive officer.
Delta generated $2.4 billion of adjusted operating cash flow and $1.4 billion of free cash flow during the quarter. The company used this strong cash generation to reinvest $1.0 billion back into the business, including $450 million for its 3.5% ownership position in China Eastern.
The company returned $532 million to its owners through $107 million of dividends and $425 million of share repurchases, while also strengthening its balance sheet by reducing its adjusted net debt to $6.4 billion. ■