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Delta Air Lines Inc. said Thursday it had net income of $1.025 billion, or $1.47 a share, in the second quarter, down from $1.19 billion, or $1.62 a share, in the year-earlier period. Adjusted per-share earnings came to $1.77, ahead of the FactSet consensus of $1.72. Revenue rose to $11.8 billion from $10.7 billion, also ahead of the FactSet consensus of $11.7 billion. "With an expected $2 billion higher fuel bill for 2018, we are now forecasting our full-year earnings to be $5.35 to $5.70 per share," Chief Executive Ed Bastian said in a statement. "We have seen early success in addressing the fuel cost increase and offset two-thirds of the impact in the June quarter." The carrier said it is raising its quarterly dividend by 15% to 35 cents a share. The new payment will be made Aug. 16 to shareholders of record as of July 26. Shares rose 1.9% premarket, but are down 11.0% in 2018 through Wednesday, while the S&P 500 has gained 3.8%.
- Jul. 12, 2018 at 7:09 a.m. ET
- by Ciara Linnane