Local

Delta Air Lines Clings To $7M Profit In 4Q

View Comments
Delta

(credit: Justin Sullivan/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. Take Your Turkey To The Next Level
  2. The Largest Gathering Of 'Elves' In Bangkok
  3. 4 Things To Know For Nov. 26, 2014
  4. WCCO Interview: 'White Christmas' At Orpheum Theatre
  5. Sleeping Disorders Could Be Behind Behavioral Issues In Kids

MINNEAPOLIS (AP) — Delta says its fourth-quarter profit was nearly wiped out by Superstorm Sandy and special charges.

Delta recorded a profit of $7 million for the quarter, or a penny per share. During the same period last year it earned $425 million, or 51 cents per share.

Delta says that without special items it would have earned $238 million, or 28 cents per share.

Revenue rose 2 percent to $8.6 billion. Both its adjusted profit and its revenue were slightly better than expected by analysts surveyed by FactSet.

Superstorm Sandy hurt revenue by $75 million. The storm slowed down the re-opening of Delta’s new oil refinery, causing a $63 million loss at the refinery.

Shares of Delta Air Lines Inc., based in Atlanta, are up a penny to $13.62 in premarket trading.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,989 other followers