Delta Air Lines, Inc. (DAL) Earnings Call Transcripts

Delta Air Lines, Inc.'s Latest Earnings Call - Q2 FY2026

Delta Air Lines reported strong results for the June quarter 2026, with record revenue of $17.7 billion, reflecting a 14% increase year-over-year. Earnings per share came in at $1.56, exceeding guidance, while pretax profits reached $1.4 billion, supported by a solid operating margin of 9%. Management affirmed its full-year guidance for earnings of $6.50 to $7.50 per share, indicating a 20% growth year-over-year, despite facing significant fuel cost headwinds.

Reported metrics

Guidance from management

Delta expects to achieve earnings of $6.50 to $7.50 per share for the full year, affirming its previous guidance despite significant fuel cost challenges. The company anticipates a return to double-digit operating margins in the second half of 2026.

What management said

It's one of the things that gives us confidence as we go into the back half and especially the third quarter. Our exit rate on TRASM was significantly higher than our entry rate. And that goes to how the -- our fuel recapture strategy moved through the quarter. I forget we started it in March. And in April, we were already 70% booked. And so each month, you get more and more of new revenue, new priced revenue that co...

Sure, Tom. What we've talked about is that mid-teens is the target. We expect to expand a couple of hundred basis points a year. The first half of this year was better than that. We got a lot of volume leverage, given the revenue growth that we expected. But I would -- as you think about this business going from 10% to 12% to the mid-teens with the double-digit revenue growth, that would be the progression that I loo...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of fare increases in the face of potential competition from low-cost carriers. There were also questions about the impact of rising fuel costs on future profitability and how Delta plans to manage capacity growth amidst these challenges.

Main topics on the call

• Record Revenue Growth — Delta achieved record revenue of $17.7 billion, up 14% year-over-year, driven by strong demand and a 12.4% increase in unit revenue. Management stated, "This reflects sustained strength in demand and momentum across our ...
• Operational Excellence — Delta maintained its leadership in operational metrics, achieving record baggage performance and improving on-time arrival rates. CEO Ed Bastian noted, "Our people are our #1 competitive advantage," highlighting the impo...
• Fuel Cost Challenges — Total fuel expense surged to $4.4 billion, up nearly $2 billion year-over-year, with fuel prices averaging $3.93 per gallon. CFO Erik Snell commented, "Fuel price came in better than guidance as lower crack spreads more ...
• Strong Corporate Demand — Corporate sales saw double-digit growth, with all sectors performing well. Management indicated that corporate sales rose more than 20% in core and coastal hubs, reflecting a recovery in business travel.

Read the full Delta Air Lines, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 56 Delta Air Lines, Inc. earnings call transcripts on record, spanning January 7, 2020 to July 10, 2026. Based on this history, Delta Air Lines, Inc. reports quarterly. The most recent call on file is dated July 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DAL

Exchange

NYSE

Country

US

Sector

Industrials

Industry

Passenger Airlines

Calls on record

56

First call

January 7, 2020

Most recent

July 10, 2026

Reporting cadence

quarterly