EarningsQ2 2026 Earnings Report
MX:DAL Q2 2026 EPS Results
Actual EPS$26.51
Consensus EPS$25.37
Beat/MissBeat by +$1.14
One Year Ago EPS$35.69
MX:DAL Q2 2026 Revenue Results
Actual Revenue$335.79B
Expected Revenue$298.22B
Beat/MissBeat by +$37.57B
YoY Revenue Growth+18.67%
Earnings Announcement Details
QuarterQ2 2026
Date07/10/2026
TimeBefore Open
Conference CallFriday, July 10, 2026
MX:DAL Upcoming Earnings
Delta Air Lines's next earnings date is estimated for October 8, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:DAL Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted a powerful combination of revenue momentum, operational improvements, diversified higher‑margin revenue streams (premium, loyalty, cargo, MRO), strong cash generation and a strengthened balance sheet — all enabling affirmed full‑year guidance and expanded shareholder returns. Offsetting these positives are significant fuel cost headwinds (historic fuel expense increases and a refinery outage), rising non‑fuel unit costs and some regional demand and capacity softness. On balance the call emphasized durable execution and confidence in returning to stronger margins in the back half and beyond.Company Guidance
Record Revenue and Strong Top-Line Growth
June quarter total revenue of $17.7B, up 14% year‑over‑year and more than $2B higher than last year; total unit revenue (TRASM) grew 12.4% with capacity up ~1%.
Profitability and Earnings Guidance Affirmed
Reported pretax profit of $1.4B and GAAP EPS of $1.56 for the quarter (operating margin ~8.8%–9%); company affirmed full‑year EPS guidance of $6.50–$7.50 (≈20% YoY growth) and free cash flow outlook of $3B–$4B.
Cash Generation and Balance Sheet Strength
First half operating cash flow of $4.0B and free cash flow of $1.4B after $2.6B reinvestment; adjusted net debt of $13.6B (down from year‑end); investment‑grade ratings and expectation that gross leverage will reach ~2x by year end with long‑term target of 1x.
Diverse, High‑Margin Revenue Mix
Diverse revenue streams represented 61% of total revenue (up 2 pts YoY); premium and loyalty revenue both increased nearly 20% YoY; Delta‑Amex remuneration expected to be $9B (up ~10% vs 2025).
Commercial Momentum and Forward Bookings
Domestic unit revenue growth led at ~12.4%; international unit revenue +8% (Latin strength); management expects September‑quarter revenue to grow mid‑teens and reported strong December‑quarter bookings, supporting confidence in back‑half revenue momentum.
Operational Excellence and Customer Experience
Industry‑leading on‑time arrival and departure performance, improved completion factor, record baggage performance (especially ATL), higher NPS (including >25% improvement in NPS during irregular operations) and all‑time highs in people interaction scores across channels.
TechOps / MRO Growth Opportunity
TechOps expected to generate ~ $1.2B in revenue this year (management said up nearly 50% YoY and delivered >30% YoY growth), with low‑double‑digit margins today and a multi‑year plan to more than double MRO revenue while expanding margins toward mid‑teens.
Cargo and Other Ancillary Strength
Cargo revenue grew 39% YoY (driven by volume and rerouting opportunities); management expects continued strong cargo performance in the back half of the year.
Shareholder Returns and Employee Investment
Announced a 15% increase to the dividend; earlier quarter announcement of a 4% employee pay increase and accrual of nearly $500M toward next year’s profit‑sharing payout—emphasizing balanced capital allocation to employees and owners.
Product and Technology Enhancements
Continued rollouts: new Delta 1 lounge at LAX (2nd at LAX, five Delta 1 locations total), Delta Sync Concierge (AI assistant) rolled out to >50% of app users, near‑fleetwide fast free Wi‑Fi with upcoming satellite upgrades and 2028 Amazon Leo connectivity plans.
MX:DAL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed