Delta Air Lines (NYSE:DAL) today reported financial results for the June quarter 2019 and provided its outlook for the September quarter 2019.
The Atlanta-based airline trumpeted adjusted earnings per share were $2.35, reflecting a 32% increase year over year with 8.7% top-line growth, 2.3 points of operating margin expansion and $1.8 billion of free cash flow.
Total adjusted revenue, which excludes refinery sales, grew nearly $1 billion to $12.5 billion, a new quarterly record, with 52% of adjusted revenue from premium products and non-ticket sources.
Total unit revenue, adjusted, increased 3.8% driven by healthy growth in leisure and corporate revenue and an approximate one point benefit from the amended American Express agreement announced earlier this year.
Delta also boasted it returned $497 million to shareholders, comprised of $268 million of share repurchases and $229 million in dividends.
June quarter 2019 GAAP pre-tax income were $1.9 billion, net income of $1.4 billion and earnings per diluted share of $2.21 on record total revenue of $12.5 billion.
DAL also increased its full-year earnings guidance to $6.75 to $7.25 per share. Moreover, its Board of Directors approved 15% increase to company's quarterly dividend.
Said CEO Ed Bastian, "With our strong first half performance and building momentum from our customer-focused initiatives, we are increasing our full-year earnings guidance to $6.75 to $7.25 per share.
"Our record June quarter financial and operating results demonstrate that we are translating our powerful brand and competitive advantages into earnings growth, margin expansion and solid returns for our owners."
Shares gained 20 cents to $59.69
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