Delta Air Lines Reports $158 Million Adjusted Profit (DAL)

Atlanta, Georgia-based Delta Air Lines Inc. DAL on Tuesday morning released financial results that missed Wall Street earnings expectations. Delta Air Lines Inc reported quarterly net income of $19 million, or 2 cents per share, compared to a net loss of $25 million, or 3 cents per share, a year earlier. Excluding special items, the company earned $158 million, or 19 cents per share. The company's Total operating revenue climbed 14% to $7.8 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 26 cents per share, on revenue of $7.73 billion. Chief executive officer Richard Anderson said, "Our 2010 results are among the best in Delta's history. They would not have been possible without the dedication and determination of Delta employees worldwide and we are pleased we will pay more than $300 million in profit sharing for 2010. These results are a direct reflection of the success of our merger, cost discipline and debt reduction strategy and give us momentum to deal with the rising fuel prices we face in 2011." Delta Air Lines Inc. (DAL) ended the previous trading session at $12.75 per share. Analysts covering the company's stock have a consensus price target of $17.27 per share. Delta Air Lines Inc serves more than 160 million customers each year and together with the Delta Connection carriers offer service to 357 destinations in 67 countries on six continents. Read more from Benzinga's Company news.