Delta Air Lines has released its full year 2023 GAAP financial results, highlighting an operating revenue of $58.0 billion and an operating income of $5.5 billion (with an operating margin of 9.5%). Its pre-tax income for the year was $5.6 billion with a pre-tax margin of 9.7%.
“2023 was a great year for Delta” highlighted chief executive officer Ed Bastian, adding that the airline will commence recognition of employees’ “outstanding work with $1.4 billion in profit-sharing payments next month”. He also added that full-year earnings are expected to grow from $6 to $7 per share in 2024 and generate a free cash flow of $3 to $4 billion, “further strengthening [Delta’s] financial foundation”.
The American carrier's full year 2023 adjusted financial results indicate a free cash flow of $2 billion and an adjusted debt to EBITDAR ratio of 3.0x, down from 5.0x at the end of 2022. In 2023, the airline also made payments on debt and finance lease obligations totalling $4.1 billion, taking its total debt and finance lease obligations to $20.1 billion at year end.
Additionally, Q4 2023’s adjusted financial results indicated an operating revenue of $13.7 billion, 11% higher than the same period 2022. Delta’s operating cash flow was $499 million, with an operating income of $1.3 billion (and an operating margin of 9.7%). The airline also reported earnings per share of $1.28.