Delta 3rd Quarter profit

RiddleEagle18

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Delta Air Lines Inc. (DAL: News ) on Tuesday reported a 51 percent increase in profit for the third quarter as strong revenue growth helped offset higher fuel costs and flat passenger traffic. However, excluding items, adjusted earnings missed analysts' expectations, while revenues topped their estimates.
The company's third-quarter net income was $549 million or $0.65 per share, up from $363 million or $0.43 per share in the year-ago period.
The company recorded special items totaling a $216 million charge in the latest quarter, primarily related to mark to market adjustments for open fuel hedges settling in future periods.
Excluding special items, Delta's net income for the latest quarter was $765 million or $0.91 per share. On average, fifteen analysts polled by Thomson Reuters expected the company to report earnings of $0.93 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenue for the quarter rose 10 percent to $9.82 billion from $8.95 billion in the prior-year period and topped analysts' consensus estimate of $9.73 billion.
Passenger revenue for the quarter increased 10 percent to $8.57 billion. Passenger Revenue per Available Seat Mile or PRASM increased 11 percent to 13.54 cents, driven by a 11 percent improvement in yield. Passenger load factor was 86.1 percent, up 0.2 points compared with 85.9 percent a year ago.
Traffic in terms of revenue passenger miles declined 0.3 percent from the prior-year period to 54.50 billion, while capacity in terms of available seat miles declined 0.6 percent to 63.26 billion.
The airline's cargo revenue rose 13 percent to $257 million, on higher cargo yields. Other revenues were up 5 percent, reflecting higher third-party maintenance revenue.

Delta's average fuel price of $3.09 per gallon for the quarter represented a 35 percent increase over the prior-year period.
The airline's operating expense rose 13 percent from the prior-year quarter to $8.96 billion and includes a 42 percent surge in aircraft fuel and related taxes. The company noted that higher fuel prices increased fuel expense by $1 billion, which was partially offset by $97 million of settled fuel hedge gains.
As at September 30, Delta's adjusted net debt was $14.0 billion. The company said it remains on track to achieve its $10 billion adjusted net debt target in 2013.
Looking ahead to the fourth quarter, Delta forecasts operating margin to increase 5 to 7 percent and projects capital expenditures of $350 million.
Hank Halter, Delta's chief financial officer said, "We are beginning to gain traction with our cost reduction initiatives, slowing September quarter non-fuel cost growth to 3% on a 1% decline in capacity. With the initiatives we have in place, we remain on track to bring our non-fuel unit costs modestly above 2010 levels in the fourth quarter despite a significant reduction in capacity."
 

GogglesPisano

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I want some of that.
 

Jar Jar

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Hey thats more than enough to pay the Frontier bill!
 

On Your Six

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Jarjar,

How did Frontier do in Q3 then? How about Republic? Probably better than SWA. Almost everyone did except AA. Who would have ever thunk it that SWA would have a rough Q3? Crazy times.


Godspeed!


OYS
 
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Scoot 11

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This is kind of ironic. They make a record breaking 3rd quarter profit:

The company's third-quarter net income was $549 million or $0.65 per share, up from $363 million or $0.43 per share in the year-ago period.

And the stock is down 5%.

Maybe I'm just too smart for Wall St. I thought this would be a good thing?:confused:
 

$$$4nothin

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Frontier no longer has quarterly results. There results will only be discussed under the branded side of flying within the RAH holdings quarterly report.
 

Jar Jar

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They report Nov 8 so we dont know yet but i'd say whatever the Rjet Q3 results are they would have been worse without your flying. I hate to see guys who are forced into concessions by inept mgmt go out of business! They are greatful i'm sure.
 

On Your Six

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This is kind of ironic. They make a record breaking 3rd quarter profit:

The company's third-quarter net income was $549 million or $0.65 per share, up from $363 million or $0.43 per share in the year-ago period.

And the stock is down 5%.

Maybe I'm just too smart for Wall St. I thought this would be a good thing?:confused:

Mostly because the rest of the market, but also Delta missed the expected 95 cents per share earnings by two cents.


Godspeed!


OYS
 

waveflyer

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When's DALPA's contract up?

Sure would love to see swa have some help holding the bar on pay and outsourcing
 

On Your Six

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When's DALPA's contract up?

Sure would love to see swa have some help holding the bar on pay and outsourcing
Openers are soon, maybe early next year? Rumors abound that the CEO wants it done by amendable date, but that doesn't mean they want to give you what you want. Nevertheless, more profits help justify larger increases. Thanks for keeping the bar up, but you should have included ALL of the trannies. That will be a thorn in your side for years to come.


Godspeed!


OYS
 

nimtz

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When's DALPA's contract up?

Sure would love to see swa have some help holding the bar on pay and outsourcing
If you are the bar holders then shouldn't you have a bunch of captains who should have been lucky enough to retire in the last few years? I mean seriously if you are working that hard to hold up this 'bar' of which you speak why did SWAPA lead the drive towards 65?
 

Sacha

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If you are the bar holders then shouldn't you have a bunch of captains who should have been lucky enough to retire in the last few years? I mean seriously if you are working that hard to hold up this 'bar' of which you speak why did SWAPA lead the drive towards 65?
Ummm....Gee..I don't know...maybe because the money is so good?
 

The Prussian

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Openers are soon, maybe early next year? Rumors abound that the CEO wants it done by amendable date, but that doesn't mean they want to give you what you want. Nevertheless, more profits help justify larger increases. Thanks for keeping the bar up, but you should have included ALL of the trannies. That will be a thorn in your side for years to come.


Godspeed!


OYS

OYS....


Read the thread title next time before responding!

This is not a Southwest thread....
 

Fubijaakr

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I mean seriously if you are working that hard to hold up this 'bar' of which you speak why did SWAPA lead the drive towards 65?
Naked greed gets my vote. Pretty much the reason they fly lots of OT.
 

On Your Six

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OYS....


Read the thread title next time before responding!

This is not a Southwest thread....
I answered Waveflyer's question, and you need to be nicer to and respect the trannies.


Godspeed!


OYS
 

Sacha

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Naked greed gets my vote. Pretty much the reason they fly lots of OT.
Fudgepacker is now regurgitating his Fairbanks chapter of OWS Bs....

In light of his ALPA sense of "Fairplay", he is going to request that Alaska postpone contract openers indefinitely, continue with their crappy Regional Airline pay scale and keep the B-scale forever.

Down with "Naked Greed!".....

Fudgepacker is the 99%.....
 

nimtz

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Ummm....Gee..I don't know...maybe because the money is so good?
Funny I remember a time when senior capts had such nice retirements to claim that it was foolish to hang around despite that hourly rate being 'so good'! Obviously you never breathed a hint of that at EAL 2 or LUV. But thanks for holding the bar up Capt Grumpy Pants.
 
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Sacha

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Funny I remember a time when senior capts had such nice retirements to claim that it was foolish to hang around despite that hourly rate being 'so good'! Obviously you never breathed a hint of that at EAL 2 or LUV. But thanks for holding the bar up Capt Grumpy Pants.
That's why I can't understand why Fudgepacker isn't going to retire at 60...

Alaska does have a great retirement package.....don't they?

The one thing EAL 1 taught me was the foolishness of placing your retirement funds in the hands of the Company and ALPO...

If SWA goes Bankrupt this morning, my 401k and Profit Sharing are untouchable by the Company and the Bankruptcy Judge....

Unfortunately for you "public schooled" Nanny state boys, 401k's and Profit Sharing accounts do require you to actually take some responsibility as to how it is invested......I know that is a difficult concept for you OWS losers to comprehend....
 
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