Delta Air Lines (NYSE:DAL) saw its shares lose ground Thursday on reporting financial results for the March quarter.
Operating revenue came in at $12.8 billion, resulting in an operating loss of $277 million with an operating margin of (2.2)%. Pre-tax loss of $506 million with a pre-tax margin of 4%. The company sustained a per-share loss of 57 cents.
"Thanks to the outstanding work and dedication of the Delta team, 2023 is off to a strong start. We provided well-deserved pay increases for our people and paid more profit sharing than the rest of the industry combined. Delta is building momentum, with the best people in the industry generating nearly $5 billion of operating profit over the last twelve months," said CEO Ed Bastian , Delta's chief executive officer. "For the June quarter, we expect to deliver record revenue, and an adjusted operating margin of 14% to 16% with earnings per share of $2.00 to $2.25."
"With solid March quarter profitability and a strong outlook for the June quarter, we are confident in our full-year guidance for revenue growth of 15% to 20% year over year, earnings of $5 to $6 per share and free cash flow of over $2 billion," Bastian said.
DAL shares docked 48 cents, or 1.4%, to $33.26.
