23 Apr Delta Air Lines anuncia beneficios en el Primer Trimestre 2014
ATLANTA, Apr. 23, 2014 – Delta Air Lines (NYSE:DAL) today reported financial results for the March 2014 quarter. Key points include:
- Delta’s pre-tax income for the March 2014 quarter was $444 million, excluding special items1, an increase of $363 million over the March 2013 quarter on a similar basis.
- Delta’s net income for the March 2014 quarter was $281 million, or $0.33 per diluted share, excluding special items1. This is $196 million higher year over year despite $163 million of non-cash tax expense now recognized after the reversal of the company’s valuation allowance.
- On a GAAP basis including special items, Delta’s pre-tax income was $335 million and net income was $213 million, or $0.25 per diluted share.
- Delta cancelled more than 17,000 flights due to severe weather in January and February, double the number of flights cancelled for weather in 2013. These cancellations resulted in $90 million of lost revenue and $55 million lower pre-tax income.
- Results include $99 million in profit sharing expense in recognition of Delta employees’ contributions toward achieving the company’s financial goals.
- Delta generated $951 million of operating cash flow and $390 million of free cash flow in the March 2014 quarter. This strong cash generation allowed the company to reduce its adjusted net debt to $9.1 billion, contribute more than $600 million of funding to its defined benefit pension plans, and return $176 million to shareholders through dividends and share repurchases.
“The March quarter’s record results in the face of unprecedented weather show the strength and resilience of Delta. By delivering the industry’s best customer service, operational reliability and financial performance, Delta people continue to show that they are the very best in the business,” said Richard Anderson, Delta’s chief executive officer. “Our work is not finished, and there is great opportunity ahead as we expect the June quarter to produce 14% – 16% operating margins. We are transforming Delta into a high-quality S&P 500 company that consistently delivers strong earnings growth and shareholder returns.”
Delta has a strong commitment to its employees, customers and the communities it serves. Key accomplishments in the March 2014 quarter include:
· Recognizing the achievements of Delta employees toward meeting the company’s financial and operational goals with $114 million of incentives so far this year, including $99 million in employee profit sharing and $15 million in Shared Rewards;
· Ranking in Fortune’s Top 50 of the World’s Most Admired Companies for the first time in the company’s history, and named as World’s Most Admired Airline for the third time in four years;
· Unveiling of new SkyMiles program that will take effect in 2015 that will better reward our most valuable customers for what they spend instead of distance flown. Delta is the first of the legacy carriers to make this transition to a revenue-based model;
· Launching of immunized joint venture with Virgin Atlantic allowing coordination on pricing and scheduling, and also co-locating London Heathrow departures to Boston, New York JFK, and Seattle to Terminal 3 at Heathrow to enhance the customer experience.
· Supporting the communities served through the Habitat for Humanity International partnership and building 10 homes in four days on a Global Build in the Philippines. This marks the ninth year that Delta has partnered with Habitat for Humanity on a Global Build.
Delta recorded a net $68 million special items charge in the March 2014 quarter, including:
- a $31 million charge associated with Delta’s domestic fleet restructuring;
- a $21 million mark-to-market adjustment on fuel hedges; and
- a $16 million charge for debt extinguishment and other.
- a $102 million charge for facilities, fleet and other, primarily associated with Delta’s domestic fleet restructuring; and
- a $24 million mark-to-market adjustment on fuel hedges.
Included with this press release are Delta’s unaudited Consolidated Statements of Operations for the three months ended March 31, 2014 and 2013; a statistical summary for those periods; selected balance sheet data as of March 31, 2014 and December 31, 2013; and a reconciliation of non-GAAP financial measures.
WORD Doc. (comunicado Completo) : Delta Anuncia Beneficios 1er. Trimestre 2014
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