Delta Air Lines

DAL · Industrials · Market cap $57.8B

Q2 FY26 Jun 30, 2026 reported Jul 10, 2026

Revenue$19.8B +19% year over year

Gross profit–

Operating profit$1.9B

Net profit$1.6B 8% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	19.8	100%	+19%
Passenger Air Traffic	13.8	70%	+12%
Refinery	2.1	11%	+83%
Loyalty Program	1.3	7%	+19%
Passenger Loyalty Travel Awards	1.2	6%	+14%
Passenger Travel Related	0.6	3%	+11%
Ancillary Businesses	0.3	2%	+32%
Cargo and Freight	0.3	2%	+39%
Miscellaneous	0.1	1%	+71%
Salaries and related	−4.7	24%	+0pp
Aircraft fuel and related taxes	−4.1	21%	+0pp
Refinery	−2.1	11%	+0pp
Contracted services	−1.3	6%	+0pp
Landing fees and other rents	−1	5%	+0pp
Other	−4.7	24%	+0pp
Operating profit	1.9	9% margin	−3pp
Tax	−0.4
Net profit	1.6	8%	−5pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	15.9	100%	+13%
Passenger Air Traffic	10.8	68%	+7%
Refinery	1.7	11%	+56%
Loyalty Program	1.2	8%	+13%
Passenger Loyalty Travel Awards	1	6%	+9%
Passenger Travel Related	0.5	3%	+7%
Ancillary Businesses	0.4	3%	+152%
Cargo and Freight	0.2	1%	+9%
Miscellaneous	0.1	1%	+25%
Salaries and related	−4.5	29%	+0pp
Aircraft fuel and related taxes	−2.7	17%	+0pp
Refinery	−1.7	10%	+0pp
Contracted services	−1.2	8%	+0pp
Landing fees and other rents	−0.9	6%	+0pp
Other	−4.3	27%	+0pp
Operating profit	0.5	3% margin	−1pp
Tax	−0.1
Interest & other costs	−0.7
Net profit	-0.3	-2%	−4pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	16.7	100%	+6%
Passenger Air Traffic	11.9	71%	+2%
Refinery	1.5	9%	+36%
Passenger Loyalty Travel Awards	1.1	7%	+13%
Loyalty Program	0.8	5%	+3%
Passenger Travel Related	0.5	3%	+11%
Miscellaneous	0.4	2%	+15%
Ancillary Businesses	0.3	2%	+59%
Cargo and Freight	0.2	1%	+19%
Salaries and related	−4.4	27%	+0pp
Aircraft fuel and related taxes	−2.6	15%	+0pp
Ancillary businesses and refinery	−1.7	10%	+0pp
Contracted services	−1.2	7%	+0pp
Landing fees and other rents	−0.9	6%	+0pp
Other	−4.2	25%	+0pp
Operating profit	1.7	10% margin	+1pp
Tax	−0.4
Net profit	1.4	8%	+0pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	16.6	100%	+0%
Passenger Air Traffic	12.2	73%	−1%
Refinery	1.1	7%	−9%
Passenger Loyalty Travel Awards	1.1	7%	+12%
Loyalty Program	0.9	5%	+2%
Passenger Travel Related	0.5	3%	+2%
Miscellaneous	0.3	2%	−3%
Ancillary Businesses	0.3	2%	+24%
Cargo and Freight	0.2	1%	+7%
Salaries and related	−4.3	26%	+0pp
Aircraft fuel and related taxes	−2.5	15%	+0pp
Ancillary businesses and refinery	−1.4	8%	+0pp
Contracted services	−1.2	7%	+0pp
Landing fees and other rents	−0.9	5%	+0pp
Other	−4.2	25%	+0pp
Operating profit	2.1	13% margin	−1pp
Tax	−0.5
Net profit	2.1	13%	+5pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	Jun 30, 2026	Jul 10, 2026	$19.8B	+19%	10%	$1.6B	8%
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 8, 2026	$15.9B	+13%	3%	$-0.3B	-2%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 9, 2025	$16.7B	+6%	10%	$1.4B	8%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 10, 2025	$16.6B	+0%	13%	$2.1B	13%