Delta Air Lines, Inc. (DAL) Q4 2023 Earnings Call Transcript Summary

By / / Delta Air Lines

The following is a summary of the Delta Air Lines, Inc. (DAL) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • Delta Air Lines reported record revenues of $55 billion for 2023, about 20% higher than pre-pandemic, including a record December quarter revenue of $13.7 billion, 11% higher than 2022.
  • It delivered earnings of $6.25 per share and pretax income of $5.2 billion in the year, nearly doubling the performance of 2022.
  • The company reported a Q4 pretax profit of $1.1 billion, with total earnings of $1.28 per share.
  • It generated $2 billion in free cash flow after gross CapEx of $5.3 billion, and repaid over $4 billion of gross debt.
  • For Q1 2024, earnings are expected to range from $0.25 and $0.50 per share on approximately 5% operating margin, with a full year forecast of earnings between $6 to $7 per share.

Business Progress:

  • Delta Air Lines enhanced its premium offerings and nearly completed the rollout of Delta Premium Select on long-haul international flights.
  • The company’s loyalty program outshined expectations with record SkyMiles acquisitions.
  • Recognized as the number one in Business Travel News Airline survey for the thirteenth consecutive year, the airline notably launched SkyMiles for business, aiming at small to medium-sized companies.
  • Delta aims to optimize its network, grow high-margin revenue streams and invest in the future through next-gen fleet, airport constructions, and digital transformation in 2024.
  • It plans to deliver payments in cash for approximately 45 aircraft deliveries in 2024, aiming for capital efficiency, free cash flow, and earning durability.
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