Dallas, Texas 07/25/2013 (Financialstrend) – Delta Air Lines, Inc. (NYSE:DAL) announced the second quarter results in which the company had reported net profits of $844 million. Net profits increased by $258 million year over year. The company reported $9.7 billion as the revenue and earnings of 94 cents per share for this quarter. The company’s net income was 80 cents per diluted share. The shares increased in pre-market trading at 3%. The airline company informed that its June quarter results contained $118 million profit sharing expense related with the airline’s recognition of its employees’ contributions.
The company produced $1.3 billion in operating cash flow and $730 million in free cash flow during the quarter. At the end of the three months, the adjusted net debt was at $10.2 billion. The operating revenue fell year over year to $25 million and also there was 5% increase in traffic with 8% increase in capacity. Passenger revenue rose by 0.7% year over year, while passenger unit revenue was flat with 0.2 percent yield increase. Cargo revenue fell 11.4% as freight yields fell. Other revenue also fell by 5.6% after the company planned to discontinue some of its third party maintenance contracts. During the quarter the company told its five-year financial objective along with a capital deployment program formulated to increase $5 billion in value for shareholders.
Delta Air Lines, Inc. (NYSE:DAL) had gained 1.71% on Wednesday to close at $20.80 per share, after opening the day at a price of $21.08 per share. The stock had through the day moved with prices fluctuating between $20.72 and $21.64 per share. The company presently has 52 week low at $8.42 and 52 week high at $21.64. The institutional holding is at 82% and there are 856.55 million shares outstanding in the market with a market cap of the stock presently at $17.82 billion.