Delta Air Lines (NYSE:DAL) today reported financial results for the December quarter and full year 2020 and provided its outlook for the March quarter 2021. Highlights of the December quarter and full year 2020 results, including both GAAP and adjusted metrics, are on page five and are incorporated here.
National Defense Authorization Act
As we noted last month, House Armed Services Committee (“HASC”) and Senate Armed Services Committee (“SASC”) staff had been conferencing the National Defense Authorization Act (“NDAA”), Congress’ annual defense policy bill, since mid-August. On November 18, 2020, the Senate and House began formal conference committee proceedings to resolve and reconcile the remaining major sticking points of the House and Senate versions of the bill.
On December 8, 2020, the House passed the reconciled version of the bill, otherwise known as the conference report, by a vote of 335-78. The Senate followed suit on December 11, 2020, passing the bill by a vote of 84-13. The President vetoed the bill on December 23, 2020 as was widely expected. The President had long threatened to veto the bill if it did not include a repeal of Section 230 of the Communications Decency Act, which prevents social media websites from being held liable for users’ comm
Dive Brief:
The already bleak financial situation for U.S. hospitals isn t improving, with margins down month over month and volumes and revenues continuing to fall across most metrics, according to Kaufman Hall s latest monthly flash report. Expenses also remained high compared to last year and above budget.
Inpatient admissions were the only metric to rise, surpassing 2019 levels for the first time since the pandemic began as COVID-19 hospitalizations more than doubled in November. Discharges remained down, though, as higher-acuity patients, including those with COVID-19, ticked up average lengths of stay.
Operating margins were down 16.4% in November from October and 11.6% year over year when funds from the Coronavirus, Aid, Relief, and Economic Security Act were excluded. With that money accounted for, operating margins fell 8.3% year over year.
PSX Announces Top 25 Companies of 2019
Pakistan Stock Exchange (PSX) has announced the recipients of the Top 25 Companies Awards for the year 2019.
The Top 25 Companies Award tradition at PSX goes back to 1978. The best performing listed companies in Pakistan are awarded this distinction. A general definition for ‘well-performing’ may be understood as companies that have outperformed others by the parameters of corporate governance and financial performance, and added value to shareholders based on certain specific quantitative criteria, amongst other factors, make it to the Top 25 Companies List.
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This year’s parameters were also re-defined to suit the current times. As per tradition and in line with the evolving business landscape in the country, the criteria for selecting such companies were also updated and upgraded in 2019. The prerequisites to be included in the list for this year were: