Delta Air Lines (NYSE:DAL) Announces Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• Delta reported adjusted EPS of $1.72, missing the $1.77 consensus estimate, while revenue of $17.59 billion also fell slightly short of expectations.
• The airline cut or updated its 2026 outlook, projecting full-year EPS of $5.10–$5.60 and fourth-quarter EPS of $1.15–$1.65, as elevated fuel costs pressure profits despite resilient demand and expected December-quarter revenue growth.
• Delta declared a quarterly dividend of $0.215 per share, equal to a 1.0% annualized yield. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $99.01.

Delta Air Lines (NYSE:DAL - Get Free Report) announced its quarterly earnings data on Friday. The transportation company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.05), FiscalAI reports. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The firm had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.65 billion. Delta Air Lines updated its Q4 2026 guidance to 1.150-1.650 EPS and its FY 2026 guidance to 5.100-5.600 EPS.

Delta Air Lines Trading Down 1.0%

Shares of DAL opened at $82.12 on Friday. Delta Air Lines has a twelve month low of $55.03 and a twelve month high of $95.68. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $54.00 billion, a P/E ratio of 13.62, a PEG ratio of 1.36 and a beta of 1.34. The firm's 50-day moving average is $83.61 and its two-hundred day moving average is $79.82.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.2150 per share. This represents a $0.86 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, October 15th. Delta Air Lines's dividend payout ratio is presently 14.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DAL shares. Zacks Research lowered shares of Delta Air Lines from a "hold" rating to a "strong sell" rating in a research note on Monday, September 28th. Seaport Research Partners dropped their target price on Delta Air Lines from $108.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, September 25th. Raymond James Financial reissued an "outperform" rating and set a $100.00 target price on shares of Delta Air Lines in a research note on Wednesday. Morgan Stanley raised their price target on Delta Air Lines from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, July 10th. Finally, Barclays decreased their price target on Delta Air Lines from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, September 11th. Twenty-three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.01.

Key Headlines Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Demand remained resilient, with record September-quarter revenue, healthy yield growth and management expecting December-quarter revenue to increase approximately 20%. CEO Ed Bastian also said fares could rise further as fuel prices remain elevated. Delta Air Lines Announces September Quarter 2026 Financial Results
• Positive Sentiment: Delta expects approximately $2.5 billion of 2026 free cash flow, a double-digit return on invested capital and more than $2 billion of debt repayment, supporting its balance-sheet improvement and longer-term investment case. Delta Air Lines Announces September Quarter 2026 Financial Results
• Neutral Sentiment: Analysts have generally maintained positive ratings despite cutting estimates and price targets, suggesting confidence in Delta’s premium-travel strategy and demand durability but greater caution around near-term costs. Wall Street Cut Its Delta Air Estimates Below the Company's Own Guidance
• Negative Sentiment: Delta reduced its full-year 2026 EPS guidance to $5.10–$5.60, below the $5.52 analyst consensus at the midpoint. Fourth-quarter EPS guidance of $1.15–$1.65 also brackets a midpoint below consensus, while revenue guidance of $17.5 billion trails the $18.4 billion estimate. Delta Air Lines cuts profit forecast as fuel costs outpace fare gains
• Negative Sentiment: Third-quarter adjusted EPS of $1.72 missed the $1.77 consensus, marking Delta’s first earnings miss in two years. The combination of higher fuel expenses and weaker-than-expected guidance is driving the negative investor reaction despite solid underlying demand. Delta Air Lines cuts 2026 forecast on fuel surge

Insider Activity at Delta Air Lines

In related news, EVP Alain Bellemare sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total value of $3,245,200.00. Following the sale, the executive vice president owned 95,025 shares in the company, valued at $8,810,718. This represents a 26.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Peter W. Carter sold 39,900 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $92.98, for a total value of $3,709,902.00. Following the completion of the transaction, the president directly owned 424,704 shares of the company's stock, valued at $39,488,977.92. The trade was a 8.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 356,726 shares of company stock worth $33,081,037. 0.80% of the stock is currently owned by company insiders.

About Delta Air Lines

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger and air freight transportation. The company serves destinations throughout the United States and connects customers to international markets across Europe, Asia, Latin America, Canada, Africa and the Caribbean through its own operations and regional airline partners.

Delta offers multiple classes of passenger service, including premium cabins and its main cabin, along with travel-related products such as vacation packages and loyalty benefits through the SkyMiles program.

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