67 annotations
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n closing, we're ahead of plan in 2023. And in 2024, we remain confident in delivering earnings per share of over $7 a share while generating over $4 billion of free cash flow and achieving our investment-grade metrics.
guidance upgrade
Transcript
2023 Q2
14 Jul 23
e generated operating cash flow of $2.6 billion. And after reinvesting $1.6 billion into the business, free cash flow was $1.1 billion.
Liquidity ended the quarter at $8.8 billion, with adjusted net debt of $19.8 billion.
During the first half of 2023, we repaid $3 billion of debt, including $1.4 billion of early repayments with a focus on our high-cost debt.
For the year, we expect to repay over $4 billion of gross debt resulting in interest costs over $100 million lower than our initial expectations.
Our leverage ratio improved to 3.2x on a trailing 12-month basis and this is down from 5x at the end of the year.
During the quarter, we announced the reinstatement of a quarterly dividend, opening the shareholder base to yield focused investors.
debt reduction , cf used to cut debt
Transcript
2023 Q2
14 Jul 23
While a deceleration from the June quarter, this is consistent with historic performance between 2Q and 3Q when factoring in the holiday shifts and tougher international comps as we lap the removal of restrictions.
q3 in line histirically on seasonal basis
Transcript
2023 Q2
14 Jul 23
Business travel in the quarter improved year-over-year, primarily driven by international. Overall, international passenger revenue grew 61%, led by the TransAtlantic and
Latin America
int coming back now
Transcript
2023 Q2
14 Jul 23
Delta produced record June quarter revenue of $14.6 billion, up 19% over last year. Revenues were ahead of our initial expectations with momentum in June. June 30 was a new record for industry volume and our highest summer revenue day in history.
beat q2 guidance given only recentlyhttps://s2.q4cdn.com/181345880/files/doc_presentations/2023/06/27/Delta-Beyond-2023-Investor-Day-vF-6-26-23.pdf page 21
Transcript
2023 Q2
14 Jul 23
We are currently executing ahead of our three-year financial plan and are well positioned to achieve our 2024 earnings target of over $7 per share.
ahead of 3 year plan
Transcript
2023 Q2
14 Jul 23
above Q3 2019 even with only 83% of capacity
Ya, email me at votexgr6@hotmail.com
Transcript
2022 Q3
24 Oct 22
Hi sure thing, keep in touch. I'm not sure how to swap emails on this thing.
Transcript
2022 Q3
19 Oct 22
above Q3 2019 even with only 83% of capacity
Nice annotations. What other company transcripts have you annotated? I can direct you to a few of mine if you're interested.
Transcript
2022 Q3
18 Oct 22
Demand for transatlantic travel is extending well into the fall.
(No comment added)
Transcript
2022 Q3
18 Oct 22
Global demand is continuing to ramp as consumers shift spend to experiences
(No comment added)
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2022 Q3
18 Oct 22
Demand has not come close to being quenched by a hectic summer travel season.
(No comment added)
Transcript
2022 Q3
18 Oct 22
We're ahead of our plan that we laid out for you last December on profitability and cash flow, and we expect to be free cash flow positive in 2022 this year.
fcf positive in 2022
Transcript
2022 Q3
15 Oct 22
But we're not going to fall in the trap we were last spring where we pushed ourselves too hard.
So we learned from that. We're not going to accelerate it faster, and we're ready to deliver.
cautious on revbuildiung network
Transcript
2022 Q3
14 Oct 22
nd what we've seen is demand has come back very different in 2022 than it left in 2019, although the aggregates are now above where we were in '19, where people are flying and why they're flying is very different.
2022 different to 2019
Transcript
2022 Q3
14 Oct 22
Glen, on the percentage of your total revenue that ties to a premium and diverse revenue streams.
I think we're at 54% now, but the goal is to get to 60% by 2024.
% of revenue from premium and diverese streams
Transcript
2022 Q3
14 Oct 22
As we said in our remarks, our goal is to be in a position to have our network fully restored by the summer, and the pilots are obviously a big part of that.
network fully restored by summer
Transcript
2022 Q3
14 Oct 22
We reported a $1.5 billion operating profit, and that's on a margin of 11.6%, our second consecutive quarter with a double-digit operating margin. That is on a network that's 17% smaller than 2019.
mgn good even low capacity
Transcript
2022 Q3
14 Oct 22
Turning to the December quarter. Bookings for travel and spending on our co-brand cards continue to show healthy trends.
We expect our revenue compared to 2019 will continue to improve in fourth quarter, up 5% to 9% on 8% to 9% less capacity
Q4 indications
Transcript
2022 Q3
14 Oct 22
industry supply is constrained by aircraft availability, regional pilot shortages, and hiring and training needs. With record high fuel prices and increasing cost of capital, the hurdle rate is rising for incremental capacity across an industry that's still restoring its financial condition post-pandemic.
aircraft availability
Transcript
2022 Q3
14 Oct 22