Categories AlphaGraphs, Earnings, Industrials

DAL Earnings: Key highlights from Q1 2020 Earnings Results

Earnings results for the period ended March 31, 2020

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.

Delta Air Lines Announces March Quarter 2020 Financial Results and COVID-19 Response Actions

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