Delta Air Lines (NYSE: DAL) reported revenue of $8.6 billion, down 18% year-over-year. The company posted GAAP loss of $0.84 per share vs. income of $1.09 per share in the first quarter of 2019.
Amid COVID19 impact, Delta has raised a capital of $5.4 billion in early March and suspended shareholder returns, including its stock repurchase program and future dividend payments.
Paul Jacobson, CFO said:
“With the significant impact of COVID-19 on Delta’s revenue, we were burning $100 million per day at the end of March. Through our decisive actions, we expect that cash burn to moderate to approximately $50 million per day by the end of the June quarter.”
Shares up 3.3% during the pre-market hours following the earnings announcement.
Will the Airline Industry Evolve or Die After the Black Swan-ish Disruption?
Is the airline industry staring at an evolutionary cycle after the Coronavirus-induced Pandemic that has no parallels in the past? What was the thought process of top airline executives as Covid-19 unfolded? Were they prepared? What lies ahead? We try to find out from the treasure trove of Earnings Transcripts & Press Releases.
Netflix (NASDAQ: NFLX) has for long been the undisputed king of the streaming space. The streaming industry is seeing massive growth with several new players entering the field. It also
The demand for services that involve minimal human interaction is on the rise as people continue to practice social distancing. Fastenal Co. (NASDAQ: FAST), a market-leading supplier of vending machines,
HEXO Corp. (NYSE: HEXO) reported its third-quarter 2021 earnings results today. Net revenue rose 2% year-over-year to CAD22.6 million. Net loss narrowed to CAD20.7 million from a loss of CAD19.5