Q3 Earnings Off to a Roar With Delta
Third-quarter earnings season took flight this morning with a stellar report from Delta Air Lines ($DAL), which lately has been the first big filer to publish earnings after quarter-close. Delta officially filed its Q3 report at 6:31 a.m. , and of course Calcbench had indexed all the disclosures pretty much immediately. We can start with the top line numbers on the income statement, which all looked good. Revenue was $16.67 billion, up 6.35 percent from the year-ago period. Operating expenses were up only 4.96 percent, pretax income was up 13.8 percent, and net income popped 11.4 percent. See Figure 1, taken from our Company-in-Detail page . Cool stuff, but we love airline earnings releases for all the non-GAAP metrics they also report — and which Calcbench captures and indexes too. Most notably, airlines report total revenue per available seat mile (TRASM) and cost per available seat mile (CASM) to keep investors informed about how efficiently the business is getting payin...