Delta Air Lines, Inc. (NYSE:DAL) reported third quarter earnings before the bell today, that beat street view.
On a GAAP basis, DAL reported net income of $ 1.31 billion or $ 1.91 per share, compared with income of $ 1.16 billion or $ 1.61 per share, a year ago period.
Excluding special items, the company announced adjusted net income of $ 1.24 billion or $ 1.80 per share.
Headquartered in Atlanta, Georgia, DAL recorded operating revenue that rose 8% to $ 11.95 billion from $ 11.06 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected Delta Air Lines to reveal income of $ 1.74 per share on revenue of $ 11.94 billion for the third quarter.
Ed Bastian, Chief Executive Officer, said, Our solid eight percent revenue growth, combined with flat non-fuel unit cost performance, helped offset 85 percent of the $655 million fuel cost increase in the quarter. These achievements are a testament to the strength of the Delta business model and the hard work of the Delta people, and I am pleased to recognize their performance with an additional $395 million toward 2018 profit sharing. Our commercial momentum and improved cost trajectory give us confidence that we are on a path to deliver continued top-line growth and expand margins as we move into 2019.
Looking ahead, Delta expects next quarter earnings in a range of $1.10 to $1.30 per diluted share.