Delta Air Lines beats by $0.01, reports revs in-line
Reports Q4 (Dec) earnings of $0.65 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 5.6% year/year to $9.09 bln vs the $9.07 bln consensus.
Delta's operating revenue improved 6%, or $474 million, in the December 2013 quarter compared to the December 2012 quarter. Traffic increased 2.0% on a 2.9% increase in capacity. Passenger revenue increased 6.1%, or $451 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 3.0% year over year with a 4.0 percent improvement in yield. Cargo revenue decreased 1.0%, or $3 million, as higher freight volumes partially offset declining freight yields. Other revenue increased 2.8%, or $26 million, driven by higher SkyMiles revenue.
Q1 Guidance
Operating margin 6 -- 8% Fuel price, including taxes, settled hedges and refinery impact $2.97 - $3.02 Non-operating expense $235 - $250 million
1Q 2014 Forecast (compared to 1Q 2013) Consolidated unit costs -- excluding fuel expense and profit sharing Up 0.5 -- 1.5% System capacity Up 2 -- 3%
Delta's operating revenue improved 6%, or $474 million, in the December 2013 quarter compared to the December 2012 quarter. Traffic increased 2.0% on a 2.9% increase in capacity. Passenger revenue increased 6.1%, or $451 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 3.0% year over year with a 4.0 percent improvement in yield. Cargo revenue decreased 1.0%, or $3 million, as higher freight volumes partially offset declining freight yields. Other revenue increased 2.8%, or $26 million, driven by higher SkyMiles revenue.
Q1 Guidance
Operating margin 6 -- 8% Fuel price, including taxes, settled hedges and refinery impact $2.97 - $3.02 Non-operating expense $235 - $250 million
1Q 2014 Forecast (compared to 1Q 2013) Consolidated unit costs -- excluding fuel expense and profit sharing Up 0.5 -- 1.5% System capacity Up 2 -- 3%