Delta Air Lines (DAL) FY2018 results: revenue $44.4 billion, up 8.0% on the year
Delta Air Lines, Inc. (DAL) reported revenue of $44.4 billion for fiscal 2018, the year ended 31 December 2018, up 8.0% on the year before. Net income was $3.9 billion, up 22.8%, and diluted earnings per share $5.67. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$44.4 billion
+8.0% on the year
FY2011FY2018
Operating margin
11.8%
14.5% a year earlier
FY2011FY2018
Net income
$3.9 billion
+22.8% on the year
FY2011FY2018
Diluted EPS
$5.67
+28.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
44,438
41,138
39,450
+8.0%
Operating income
5,264
5,966
6,996
-11.8%
Operating margin
11.8%
14.5%
17.7%
Interest expense
n/a
396
388
Pre-tax income
5,151
5,500
6,353
-6.3%
Income tax
1,216
2,295
2,158
-47.0%
Effective tax rate
23.6%
41.7%
34.0%
Net income
3,935
3,205
4,195
+22.8%
Net margin
8.9%
7.8%
10.6%
Diluted EPS
$5.67
$4.43
$5.55
+28.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
7,014
5,023
7,205
+39.6%
Capital expenditure
5,168
3,891
3,391
+32.8%
Free cash flow
1,846
1,132
3,814
+63.1%
Free cash flow margin
4.2%
2.8%
9.7%
Cash from investing
-4,393
-5,266
-2,155
Cash from financing
-1,726
-730
-4,260
Depreciation and amortisation
2,329
2,222
1,886
+4.8%
Share-based compensation
159
169
154
-5.9%
Buybacks
1,575
1,677
2,601
-6.1%
Dividends paid
909
731
509
+24.4%
Dividend per share
$1.31
$1.02
$0.68
+28.4%
Diluted shares, weighted
694m
723m
755m
-4.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
13,687
12,530
11,279
+9.2%
Debt
10,846
9,934
7,008
+9.2%
Operating lease liabilities
5,801
0.0
n/a
Finance lease liabilities
294
n/a
n/a
Other liabilities
29,638
31,207
33,563
-5.0%
Total liabilities and equity
60,266
53,671
51,850
+12.3%
Fixed assets
28,335
26,563
24,375
+6.7%
Goodwill
9,781
9,794
9,794
-0.1%
Intangible assets
4,830
4,847
4,844
-0.4%
Investments
203
825
487
-75.4%
Cash and equivalents
1,565
1,814
2,762
-13.7%
Receivables
2,314
2,377
2,064
-2.7%
Other assets
13,238
7,451
7,524
+77.7%
Total assets
60,266
53,671
51,850
+12.3%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.