Delta Air Lines (DAL) Q2 2026 earnings

Key Points:

• Delta Air Lines CEO Ed Bastian stated the airline's original profit goals remain achievable this year as higher fuel costs are passed on to customers, with pricing power expected to persist despite falling oil prices due to strong demand and disciplined capacity management.
• Delta forecasted third-quarter earnings between $2.00 and $2.50 per share, surpassing analyst estimates of $2.02, and reaffirmed its full-year earnings forecast of $6.50 to $7.50 per share, projecting mid-teens revenue growth compared to the same period in 2025.
• In Q2, Delta reported adjusted earnings per share of $1.56 versus the expected $1.48 and revenue of $17.67 billion versus the expected $17.53 billion, driven by strong premium seat sales and increased corporate travel, particularly from aerospace, defense, banking, and automotive sectors.
• Despite a 25% drop in net income to $1.6 billion due to higher costs, Delta’s operating revenue rose 19% to $19.76 billion, with revenue per available seat mile up 17%, though cost per available seat mile increased 21%; the airline's refinery business also saw an 83% revenue surge to $2.09 billion.
• Delta is currently passing about 60% of its increased fuel costs to customers and expects to approach 100% pass-through this quarter, supported by a more disciplined airline industry that is avoiding rapid capacity expansion despite lower oil prices.