Delta Air Lines, Inc. · NYSE:DAL
Delta Air Lines — Baird 2019 Global Industrial Conference
9 slides from Delta Air Lines's conference presentation, Nov 7, 2019
Slide 1: Delta Air Lines Baird 2019 Global Industrial Conference
Delta Air Lines Baird 2019 Global Industrial Conference Paul Jacobson, Chief Financial Officer November 7, 2019
Slide 2: Safe Harbor
Safe Harbor Statements in this presentation that are not historical facts, including statements regarding our estimates, expectations, be lie fs, intentions, projections or strategies for the future, may be "forward - looking statements" as defined in the Private Securities Litigation Re form Act of
Slide 3: Current State of the Business
2 Current State of the Business On track to deliver ~7% top - line growth, solid margin expansion and more than 20% growth in EPS in 2019 • On track to achieve December quarter earnings and revenue guidance − Revenue environment remains solid driven by corporate and leisure demand as well as diverse
Slide 4: Momentum Building Following Transformational Decade
Established Solid Foundation Momentum Building Following Transformational Decade 3 Accelerating Our Momentum Strengthened Competitive Advantages Delta’s Unique Culture Underpins our Success • Created a more customer - focused operation • Improved product, reliability and service • Deployed opportuni
Slide 5: Results Underscore Magnitude of Transformation
Established Solid Foundation Results Underscore Magnitude of Transformation 4 Accelerating Our Momentum Strengthened Competitive Advantages ($1.1B) $4.5B ~$6B $1.4B $5.8B ~$8.5B 2009 2014 2019E Pre-Tax Income Operating Cash Flow Note: Non - GAAP financial measures reconciled in Appendix
Slide 6: Increasingly Diversified Top Line Improves Resiliency
• Larger portion of our revenue is now generated by more diverse, higher - margin revenue streams • Since 2011, both premium ticket revenue and loyalty have more than doubled, with strong future growth prospects • Ancillary businesses are increasing in importance given strong growth potential and ab
Slide 7: Remain Focused on Non-Fuel Expense Trajectory
6 Remain Focused on Non - Fuel Expense Trajectory • Continue to expect non - fuel unit cost growth for 2019 to be approximately 2% • Full year non - fuel unit cost growth approximately 1 point higher than initial expectations − Higher revenue growth, incremental employee costs and one - time liabili
Slide 8: The Delta Difference + A Powerful Brand
The Delta Difference 7 + A Powerful Brand Unmatched Competitive Advantages Long - Term Value Creation Top - Line Growth Margin Expansion Balanced Capital Allocation Culture Global Network Customer Loyalty Operational Reliability Fortress Balance Sheet
Slide 9: Non-GAAP Reconciliations
Non - GAAP Reconciliations 8 Q&A Adjusted for: Equity investment MTM adjustments 0.1 – Loss on extinguishment of debt 0.3 0.1 Non-GAAP Pre-tax income/(loss) $ 4.5 $ (1.1 ) Adjustments: Net cash provided by operating activities, adjusted $ 5.8 Adjusted for: Ancillary businesses and refinery (0.64 ) (
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