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Delta Air Lines Posts Higher 2019 Earnings Than Expected

by Megan Hill

Feb 16, 2020

Delta Air Lines. Photo: Ryan Fletcher | Dreamstime.com

Feature

Delta Air Lines saw its stock price skyrocket last month after the airline posted Q4 earnings exceeding Wall Street expectations. At one point after the news, Delta’s stock price was up 4.5 percent, its highest levels since July, according to MarketInsider.

“2019 was a truly outstanding year on all fronts —  the best in Delta’s history operationally, financially and for our customers,” said Ed Bastian, CEO, Delta Air Lines. “As we enter 2020, demand for travel is healthy and our brand preference is growing, positioning Delta to deliver another year of strong results, including earnings per share of $6.75 to $7.75.”

Delta’s revenue was up to $11.44 billion from last year’s $11.34 billion, and adjusted earnings per share were way up: $1.70 from the $1.40 consensus estimate and $1.52 highest estimate.

Delta’s profits were so high, Bastian said it will pay out a record $1.6 billion in profit sharing to its employees this year, marking the sixth-consecutive year the airline will pay out more than $1 billion in profit sharing to employees.

“For years, I would get beaten up by Wall Street. They thought the profits were theirs, and ‘Why are you giving the profits away to the employees?” said Bastian, according to the Atlanta Journal-Constitution. “Wall Street has actually come full circle, and they realize that Delta is the most awarded airline in the world because of its employees.”

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