Delta Air Lines
Operates a global hub airline built around premium travel, loyalty, cargo, and partnerships.
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Profile
Carries passengers and cargo across a U.S.-centered global hub network, selling Main Cabin and premium fares alongside SkyMiles, maintenance, vacation, and refinery services. International partnerships broaden reach, while revenue and operations depend on travel demand, fuel markets, airport capacity, and aviation regulation.
Carries passengers and cargo across a hub-and-spoke network centered on Atlanta, Detroit, Minneapolis-St. Paul, and Salt Lake City, with coastal gateways and partner airlines extending service across the Atlantic, Pacific, and Latin America. Fares span Main Cabin and premium products including Delta One, First Class, Delta Premium Select, and Delta Comfort+; regional routes operate under Delta Connection.
Builds recurring revenue around SkyMiles and its American Express co-brand relationship, while Delta TechOps sells maintenance services, Delta Vacations packages trips, and Monroe Energy refines fuel and sells other petroleum products. Operational reliability, premium-cabin execution, and loyalty engagement support the network. Results remain tied to travel demand, jet-fuel prices and availability, aircraft and airport capacity, regulated slots, and government approval of international routes and joint ventures.
Company facts
Categories
Key statistics
Year to date +15.9% · Average volume (30d) 5.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 24, 2026 | Raymond James | Reiterate | Outperform | $104 | $98 |
| Aug 3, 2026 | Oppenheimer | Downgrade | Underweight | ||
| Jul 14, 2026 | Argus Research | Target | $80 | $105 | |
| Jul 14, 2026 | Cantor Fitzgerald | Target | $112 | ||
| Jul 13, 2026 | UBS | Reiterate | Buy | $107 | $112 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 9, 2026Q2 FY26 | $1.49 | $2.45 | +64.4% | $17.43B | $19.76B | +13.4% | −1.81% |
| Apr 8, 2026Q1 FY26 | $0.58 | $0.64 | +10.3% | $14.05B | $14.20B | +1.1% | −0.37% |
| Jan 13, 2026Q4 FY25 | $1.53 | $1.55 | +1.3% | $14.68B | $14.61B | −0.5% | −1.21% |
| Oct 9, 2025Q3 FY25 | $1.57 | $1.71 | +8.9% | $15.09B | $16.67B | +10.5% | −3.51% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.04B | $16.65B | $16.67B | $16.00B | $15.85B | $19.76B | |
| Gross profit | $3.01B | $5.04B | $3.91B | $3.58B | $4.54B | $6.63B | |
| Operating income | $569.0M | $2.10B | $1.68B | $1.47B | $501.0M | $1.86B | |
| Net income | $240.0M | $2.13B | $1.42B | $1.22B | −$289.0M | $1.60B | |
| Diluted EPS | $0.37 | $3.26 | $2.17 | $1.86 | −$0.44 | $2.44 | |
| Gross margin | 21.5% | 30.3% | 23.5% | 22.4% | 28.6% | 33.5% | |
| Operating margin | 4.1% | 12.6% | 10.1% | 9.2% | 3.2% | 9.4% |
Fiscal years (4-quarter sums)FY21 $29.90B · FY22 $50.58B · FY23 $58.05B · FY24 $61.64B · FY25 $63.36B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $4.67B · Total debt $19.98B · Total assets $86.32B · Shareholders' equity $21.82B
Dividends
Raised for 2 straight years — most recently to $0.215 from $0.1875 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 9, 2026 | Jul 9 | Jul 30 | $0.215 | raised from $0.1875 |
| May 14, 2026 | May 14 | Jun 4 | $0.1875 | |
| Feb 26, 2026 | Feb 26 | Mar 19 | $0.1875 | |
| Oct 16, 2025 | Oct 16 | Nov 6 | $0.1875 | |
| Jul 31, 2025 | Jul 31 | Aug 21 | $0.1875 | raised from $0.15 |
| May 13, 2025 | May 13 | Jun 3 | $0.15 | |
| Feb 27, 2025 | Feb 27 | Mar 20 | $0.15 | |
| Oct 10, 2024 | Oct 10 | Oct 31 | $0.15 |
Ownership
Shares outstanding 657.62M · Float 649.60M · 98.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Berkshire Hathaway Inc | 57.32M | 8.72% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 45.11M | 6.86% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 41.31M | 6.28% | 13F | Aug 13, 2026 |
| Warren E. Buffett | 39.81M | 6.10% | 13G | May 15, 2026 |
| FMR LLC | 33.19M | 5.05% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 5, 2026 | Steven M. Sear | officer: EVP - Global Sales & Distrib | −40,460 | $93.55 |
| Aug 5, 2026 | Michael P. Huerta | director | −3,100 | $94.12 |
| Aug 3, 2026 | David G. Dewalt | director | −31,756 | $90.85 |
| Aug 4, 2026 | Edward H. Bastian | director, officer: Chief Executive Officer | −206,510 | $92.80 |
| Aug 4, 2026 | Alain Bellemare | officer: EVP & Pres. - International | −35,000 | $92.72 |
Peers
- United Airlines
Closest Big-3 peer; parallel premium-cabin and long-haul international pivot.
- American Airlines Group
Big-3 legacy peer; largest US domestic seat share with deep Latin America reach.
- Southwest Airlines
Largest US domestic carrier; shifting to assigned seating from open seating.
- Alaska Air Group
West-Coast premium carrier; Hawaiian acquisition adds trans-Pacific and Hawaii.
- JetBlue
East-coast premium disruptor; Mint lie-flat contests Delta One on transcons.
- Frontier Group
Largest US ULCC after Spirit wind-down; lowest-fare domestic leisure rival.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Delta Air Lines | $80.10 | +0.05% | $52.66B | 13.3 | 9.8 | 0.8 | +18.7% |
| United Airlines | $110.89 | +0.29% | $35.90B | 10.3 | 8.4 | 0.6 | +16.0% |
| American Airlines Group | $13.69 | +0.37% | $9.03B | — | 10.5 | 0.2 | +16.3% |
| Southwest Airlines | $39.88 | +0.62% | $19.39B | 24.3 | 9.5 | 0.6 | +16.4% |
| Alaska Air Group | $42.63 | +0.73% | $4.72B | — | 20.7 | 0.3 | +9.8% |
| JetBlue | $4.88 | +1.56% | $1.81B | — | — | 0.2 | +14.5% |
| Frontier Group | $5.91 | +1.20% | $1.34B | — | 121.5 | 0.3 | +37.7% |
| Median | 17.3 | 10.5 | 0.3 | +16.1% |