At the start of 2017, Delta Air Lines (DAL) raised its debt by ~$2.0 billion in order to reduce its pension plan liability.
In December 2016, Delta Air Lines (DAL) placed an order for 75 CS100 Bombardier jets. This huge order was the first for these jets and a huge relief for Bombardier.
In 2Q17, Delta Air Lines (DAL) forecast 3Q17 operating margins of 18.0%–20.0%. Hurricane Irma led to Delta’s canceling flights and losing $120.0 million in operating income.
For 3Q17, Delta Air Lines’ (DAL) revenue was $11.1 billion, a 5.5% YoY (year-over-year) rise compared to $10.8 billion in 3Q16.
Delta Air Lines’ (DAL) average traffic increased 3.4% YoY to 61.0 million passenger miles for 3Q17. For the first nine months of 2017, traffic has increased 2.1% to 166.5 billion miles.
Delta Air Lines (DAL) reported its 3Q17 results on October 11, 2017. It managed to beat Wall Street analysts’ estimates for both revenue and profits. Its revenue rose 5.5% YoY.
JPMorgan Chase’s $6.5 billion payout forms ~2% of the bank’s total market capitalization.
Bankers are seeing some slowdown in real estate lending due to rate hikes. However, corporates are borrowing more to support expansion plans.
JPMorgan Chase’s (JPM) Consumer and Community Banking division (or CCB) managed net revenues of ~$12.0 billion in 3Q17, an increase from ~$11.3 billion in 3Q16 and ~$11.4 billion in 2Q17.
JPMorgan Chase is trading at a premium valuation of ~1.5x compared to the industry average of 1.2x.
In 3Q17, JPMorgan Chase’s Asset Management division managed net income of $674.0 million, up 21% on a year-over-year basis.
CIB’s expenses fell 3% on a year-over-year basis to ~$4.8 billion, mostly due to lower employee compensation.
JPMorgan Chase (JPM) beat its earnings per share (or EPS) estimates of $1.65 in 3Q17, posting EPS of $1.76. In this series, we’ll examine JPM’s performance, shareholder payouts, and valuations.
BlackRock commands a premium over industry peers and alternative asset managers due to its strong performance across the regions and offerings.
In 3Q17, BlackRock paid dividends of $2.50—9% higher than in 3Q16 but similar to the previous quarter’s payouts.
BlackRock (BLK) reported 14% growth in total revenues in 3Q17. Its operating expenses rose 13%, resulting in 15% growth in operating income.
BlackRock Institutional Clients division is now managing a record $3.3 trillion—about 56% of the company’s total AUM as of September 30, 2017.
BlackRock’s (BLK) iShares grew stronger in 3Q17 on new flows, performance, and rising broad markets.
BlackRock’s (BLK) Retail division has added long-term flows toward active asset management over the past couple of quarters.
BlackRock, the world’s largest asset manager, posted 3Q17 EPS (earnings per share) of $5.92—higher than the estimates of $5.56 and its prior year EPS of $5.14.