Originally published at www.seclive.com
Delta Air Lines Inc. (NYSE:DAL) announced its fourth quarter 2014 financial results, posting profits that more than doubled from a year ago. Excluding one-time items, the company earned $558M and $0.65 per share, beating analyst expectations by $0.02 per share. Revenue increased 6% from $8.6B a year ago to $9.08B, beating expectations of $9.03B. Aircraft fuel expenses declined during the quarter though expenses increased 2%. Passenger revenue increased 9.4% in the U.S. and jumped up 18.5% in Latin America. CEO Richard Anderson commented that the quarter topped off a great year that demonstrated the company's profitability and customer relations. The company expects its net income to be reduced due to a 39% tax rate, which it intends to mitigate with an accounting technique that will offset taxes on $15B of future taxable income.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.