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Delta Air Lines

DAL · Industrials

Last earnings Oct 9, 2026

Key results

Operating revenuequarter

$15.9 billion

Operating revenue of $15.9 billion

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Operating incomequarter

$501 million

Operating income of $501 million with an

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Operating marginquarter

3.2 percent

operating margin of 3.2 percent Pre-tax loss of $214 million with a pre-tax margin of (1.4) percent Loss per share of ($0.44)

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Operating revenue of $14.2 billion

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Operating income of $652 million with an

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

operating margin of 4.6 percent Pre-tax income of $532 million with a pre-tax margin of 3.7 percent

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

EPSquarter

$0.64

Earnings per share of $0.64

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Revenuequarter

9.4 percent

Record March quarter revenue with broad strength across customer segments, geographies, and products March quarter total revenue increased 9.4 percent over the same period last year to a record $14.2 billion, led by premium, corporate, and loyalty.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

AI analysis

Q4 2025 · reported Apr 8, 2026

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

EPS · Q4 2025
$0.64
EX-99 · Apr 8, 2026
Operating income · Q4 2025
$501M
EX-99 · Apr 8, 2026
Operating revenue · Q4 2025
$15.9B
EX-99 · Apr 8, 2026
Operating margin · Q4 2025
3.2 percent
EX-99 · Apr 8, 2026

Headline figures

MetricQ4 2025Prior qtrYear ago
Operating revenue$15.9 billion——
Operating income$501 million——
Operating margin3.2 percent——
EPS$0.64——
Revenue9.4 percent——

EX-99 · Apr 8, 2026

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Operating margin3.2 percent

Capital allocation

Our balance sheet is the best in our history, underpinned by our investment-grade rating at all three credit rating agencies, adjusted net debt below 2019 levels, and a well-laddered maturity profile alongside a substantial base of unencumbered assets and secured borrowing capacity.

Loss on extinguishment of debt.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Delta s results underscore the power of our brand and the durability of our financial foundation

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

Our balance sheet is the best in our history, underpinned by our investment-grade rating at all three credit rating agencies, adjusted net debt below 2019 levels, and a well-laddered maturity profile alongside a substantial base of unencumbered assets and secured borrowing capacity.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Loss on extinguishment of debt.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

This adjustment relates to early termination of a portion of our debt.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

We use adjusted gross debt, including fleet operating lease liabilities (comprised of aircraft and engine leases and regional aircraft leases embedded within our capacity purchase agreements) and unfunded pension liabilities (if applicable), in addition to adjusted debt and finance leases, to present estimated financial obligations.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

We reduce adjusted total debt by cash, cash equivalents, and LGA restricted cash, resulting in adjusted net debt, to present the amount of assets needed to satisfy the debt.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Management believes this metric is helpful to investors in assessing the company's overall debt profile.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Strategy & priorities

In addition, our integrated fuel strategy is a unique differentiator, with the economics of our refinery partially offsetting higher crack spreads.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

A founding member of the SkyTeam alliance and powered by innovative and strategic partnerships throughout the world with Aeromexico, Air France-KLM, China Eastern, Korean Air, LATAM, Virgin Atlantic and WestJet, Delta brings more choice and competition to customers worldwide.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Forward Looking Statements Statements made in this press release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments or strategies for the future, should be considered forward-looking statements under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments and strategies reflected in or suggested by the forward-looking statements.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

We present free cash flow because management believes this metric is helpful to investors to evaluate the company's ability to generate cash that is available for use for debt service or general corporate initiatives.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Risks & headwinds

All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments and strategies reflected in or suggested by the forward-looking statements.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission (SEC) filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other filings filed with the SEC from time to time.

SEC original ↗Delta Air Lines — Earnings release (8-K exhibit)EX-99Apr 8, 2026

Legal Proceedings 33 Item 1A.

SEC original ↗Delta Air Lines — 10-Q Quarterly report10-QOct 9, 2026

Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations.

SEC original ↗Delta Air Lines — 10-Q Quarterly report10-QOct 9, 2026

| September 2026 Form 10-Q 13 Notes to the Condensed Consolidated Financial Statements Legal Contingencies We are involved in various legal proceedings related to employment practices, environmental issues, commercial disputes, antitrust and other regulatory matters concerning our business.

SEC original ↗Delta Air Lines — 10-Q Quarterly report10-QOct 9, 2026

We record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount of loss can be reasonably estimated.

SEC original ↗Delta Air Lines — 10-Q Quarterly report10-QOct 9, 2026

Documents

Earnings deck slides

0 decks with slide view

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Delta Air Lines — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Named in the company’s own filings

People Inc (PPLI)“People and Culture The Delta people and culture are our strongest competitive advantage.”United Airlines Holdings (UAL)“Domestic Our domestic operations are subject to significant competition from traditional network carriers, including American Airlines and United Airlines, national point-to-point carriers, including Alaska Airlines, JetBlue Airways and Southwest Airlines, and other discount or ultra-low-cost carriers, including Allegiant Air, Frontier Airlines and Spirit Airlines.”Jetblue Airways Corp (JBLU)“Domestic Our domestic operations are subject to significant competition from traditional network carriers, including American Airlines and United Airlines, national point-to-point carriers, including Alaska Airlines, JetBlue Airways and Southwest Airlines, and other discount or ultra-low-cost carriers, including Allegiant Air, Frontier Airlines and Spirit Airlines.”Southwest Airlines (LUV)“Domestic Our domestic operations are subject to significant competition from traditional network carriers, including American Airlines and United Airlines, national point-to-point carriers, including Alaska Airlines, JetBlue Airways and Southwest Airlines, and other discount or ultra-low-cost carriers, including Allegiant Air, Frontier Airlines and Spirit Airlines.”

Filings

62 documents

Earnings releases

18 documents

Presentations

7 documents

Transcripts

0 documents

No transcripts for Delta Air Lines are held in this edition of the library.

Mentioned by

4 companies

Other tracked companies whose held documents mention Delta Air Lines by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.