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Delta Air Lines Q4 profit falls YOY

Delta Air Lines Inc. said its normalized net income for the fourth quarter was 80 cents per share, compared with the S&P Capital IQ consensus estimate of 82 cents per share.

EPS declined 33.1% year over year from $1.19.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $588.1 million, a decrease of 37.2% from $936.9 million in the year-earlier period.

The normalized profit margin fell to 6.2% from 9.9% in the year-earlier period.

Total revenue came to $9.46 billion, compared with $9.50 billion in the year-earlier period, and total operating expenses rose 7.8% year over year to $8.45 billion from $7.84 billion.

Reported net income fell 36.6% year over year to $622.4 million, or 84 cents per share, from $982.5 million, or $1.25 per share.

For the year, the company's normalized net income totaled $5.12 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $5.32.

EPS rose from $4.60 in the prior year.

Normalized net income was $3.87 billion, a gain from $3.70 billion in the prior year.

Full-year total revenue decreased year over year to $39.64 billion from $40.70 billion, and total operating expenses declined on an annual basis to $33.14 billion from $34.17 billion.

The company said reported net income declined year over year to $4.37 billion, or $5.79 per share, in the full year, from $4.53 billion, or $5.63 per share.