Delta Q4 Results Are Out, Focus Shifts to Big Banks

Delta Q4 & Full Year Results

Delta is the first major US airline to announce its financial results, reporting Operating Revenue of $9.47 billion in the fourth quarter, the best since late-2019 – just before the pandemic started. For the whole of 2021 Revenue was 29.889 billion. [1]

The company recorded a Net Loss of $408 million in Q4, while for the full year it posted Profit of $280 million, having received $4.5 billion of government aid for payroll support.

Delta's President Glen Hauenstein, acknowledged Omicron headwinds, saying that "The recent rise in COVID cases associated with the omicron variant is expected to impact the pace of demand recovery early in the quarter". Given this, the first quarter of the current year is expected "to recover to 72 to 76% of 2019 levels, compared to 74% in the December quarter."

Back in December, the Atlanta-based firm has hosted its Capital Markets Day, where it had said that it "expects to deliver meaningful profitability in 2022 on its path to improved earnings power beyond pre-pandemic levels by 2024" [2].

Today it reiterated this projection, commenting that "Despite expectations for a loss in the March quarter, we remain positioned to generate a healthy profit in the June, September and December quarters, resulting in a meaningful profit in 2022."

DEL.us had a negative fourth quarter dropping in December to its lowest level (33.34) since November 2020. The new year however has started on the front foot and today's results may have the ability to lead to positive open today.

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Past Performance: Past Performance is not an indicator of future results.

US Banking Sector

Tomorrow, focus will shift to the banking sector, with JP Morgan (JPM.us) and Citigroup (C.us) kicking things off, as they report Q4 2021 results before the opening bell.

According to Investing.com Earnings Calendar [3], JP Morgan is forecasted to report Revenues of $29.87 billion compared to $30.16 billion a year ago and Earnings/share of $3 versus $3.79 a year ago.

Citi is projected to announce Revenues of $17.01 billion compared to $16.5 billion a year ago and Earnings/share of $1.57 versus $2.08 a year ago.

The banking sector generally had a good 2021, with FXCM's US Banks Basket having registered a rise of more than 35%.


Past Performance: Past Performance is not an indicator of future results.

Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.

References

1

Retrieved 13 Jan 2022 https://ir.delta.com/news/news-details/2022/Delta-Air-Lines-Announces-December-Quarter-and-Full-Year-2021-Financial-Results/default.aspx

2

Retrieved 13 Jan 2022 https://s2.q4cdn.com/181345880/files/doc_presentations/2021/12/CMD-Presentation-FINAL-12.15.21-For-Website-vF.pdf

3

Retrieved 11 Aug 2022 https://www.investing.com/earnings-calendar/

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