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Delta Air Lines Q2 Profit Rises; Increases Earnings Guidance - Quick Facts

Delta Air Lines (DAL,DALRQ.PK) reported that its second-quarter adjusted earnings per share increased 32 percent year over year with a 8.7 percent top-line growth. With the strong first half performance, the company increased its full-year earnings guidance.

For the second-quarter, adjusted earnings per share was $2.35 compared to $1.78, prior year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $2.25 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter operating revenue increased to $12.50 billion from $11.50 billion, previous year. Analysts expected revenue of $12.48 billion for the quarter. Total unit revenue, adjusted, was up 3.8 percent, for the quarter.

Looking forward, the company now expects fiscal 2019 earnings per share in the range of $6.75 to $7.25. Analysts expect the company to report profit per share of $6.90, for the fiscal year.

For the third-quarter, the company expects earnings per share in a range of $2.10 - $2.40. Analysts expect the company to report profit per share of $2.13, for the quarter.

The Board of Delta Air Lines declared a quarterly dividend of $0.4025 per share, an increase of 15% over previous levels. The September quarter dividend will be payable to shareholders of record as of the close of business on July 25, 2019, to be paid on August 15, 2019.

Delta generated $1.8 billion of free cash flow during the quarter. The company returned $497 million to shareholders, comprised of $268 million of share repurchases and $229 million in dividends.

Paul Jacobson, Delta's CFO, said: "With our cash flow exceeding original expectations, we are on track to return $3 billion to our owners this year through share repurchases and our increased dividend."

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