Lufthansa Q3 Profit Climbs; Confirms FY23, FY24 Outlook - Quick Facts

(RTTNews) - German flag carrier Deutsche Lufthansa AG (DLAKF, DLAKY) reported Thursday that its third-quarter net income increased 47 percent to 1.19 billion euros from previous year's 809 million euros.

Earnings per share were 1 euro, up from 0.68 euro a year ago.

Adjusted EBIT was 1.47 billion euros in the third quarter, the second-best quarterly result in its history and a 31 percent improvement from last year's 1.12 billion euros.

The Adjusted EBIT margin amounted to 14.3 percent, up from previous year's 11.8 percent.

Total Group revenues increased 8 percent to 10.28 billion euros from previous year's 9.54 billion euros. This is the strongest quarter in its history in revenue terms.

Passenger airlines carried 38 million travelers in the quarter, higher than prior year's 33 million.

Looking ahead for the fourth quarter, Lufthansa Group expects to achieve a positive operating result, and to increase its capacity to around 91 percent of its 2019 level.

Further, profit outlook for 2023 and 2024 confirmed as it expects the demand for air travel to remain strong in the coming months. The very good summer demand has extended into October, and demand for air travel during the Christmas season is strong.

The company continues to expect to generate an Adjusted EBIT for 2023 of more than 2.6 billion euros.

For 2024, the company continues to expect adjusted EBIT margin to reach at least 8 percent, and an increase of capacity to around 95 percent of pre-crisis levels.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.