Delta announces $1 billion quarterly profit - USA TODAY
Delta Air Lines reported $1 billion in adjusted net income, or $1. 27 per share, during the second quarter, the company announced Wednesday. That profit, based on lower-than-expected fuel prices and other operational savings, was 22% higher than the same months of April, May and June in 2014. The company returned $1 billion to shareholders through dividends and share buybacks. "Delta's record results have allowed the company to invest in its employees through higher wage rates and profit sharing. Delta completed 99. 8% of its flights during the quarter, with 43 days with zero cancellations for the mainline carrier, Anderson said. Morgan analysts said the earnings beat expectations of a consensus of $1. 21 per share. But in looking to the third quarter, analysts project earnings of about $1. 65 per share based in part on fuel costs and also on pilots ratifying their contract, which hasn't happened yet. On Friday, Delta pilots rejected a tentative contract with the company. Anderson said Wednesday the pilots are key stakeholders and leaders in the company, and that they would continue to work together. Source: www.usatoday.com
