Delta Air Lines (NYSE:DAL) Announces FY 2026 Earnings Guidance

Key Points

• Delta guided for FY 2026 EPS of $5.10–$5.60, with Q4 EPS guidance of $1.15–$1.65; the full-year midpoint is below the $5.52 analyst consensus, while revenue guidance of $17.5 billion trails estimates.
• Third-quarter adjusted EPS came in at $1.72, below the $1.77 consensus, as higher fuel costs outweighed fare gains and contributed to the weaker outlook.
• Despite near-term pressure, demand remains resilient, with record quarterly revenue expected to support roughly $2.5 billion in 2026 free cash flow and more than $2 billion in debt repayment; analysts maintain a broadly positive “Moderate Buy” rating.

Delta Air Lines (NYSE:DAL - Get Free Report) issued an update on its FY 2026 earnings guidance on Friday. The company provided EPS guidance of 5.100-5.600 for the period, compared to the consensus estimate of 5.520. The company issued revenue guidance of -. Delta Air Lines also updated its Q4 2026 guidance to 1.150-1.650 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DAL. The Goldman Sachs Group reiterated a "buy" rating on shares of Delta Air Lines in a research note on Monday, August 3rd. Argus set a $105.00 price target on Delta Air Lines in a research report on Tuesday, July 14th. Wells Fargo & Company dropped their price target on Delta Air Lines from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday. Zacks Research lowered Delta Air Lines from a "hold" rating to a "strong sell" rating in a report on Monday, September 28th. Finally, Cantor Fitzgerald set a $101.00 price objective on Delta Air Lines in a research note on Friday, October 2nd. Twenty-three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $99.01.

Delta Air Lines Stock Down 1.0%

Shares of DAL stock 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 stock has a market cap of $54.00 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.36 and a beta of 1.34. The stock has a 50 day moving average of $83.61 and a 200 day moving average of $79.82. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings results on Friday, October 9th. The transportation company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.05). 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 for the quarter, compared to analyst estimates of $17.65 billion. Delta Air Lines has set its Q4 2026 guidance at 1.150-1.650 EPS and its FY 2026 guidance at 5.100-5.600 EPS. As a group, sell-side analysts expect that Delta Air Lines will post 5.79 EPS for the current year.

Delta Air Lines Dividend Announcement

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

Insider Transactions at Delta Air Lines

In related news, EVP Steven Sear sold 40,460 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $93.55, for a total value of $3,785,033.00. Following the completion of the transaction, the executive vice president owned 104,404 shares of the company's stock, valued at approximately $9,766,994.20. This represents a 27.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 35,000 shares of the 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 356,726 shares of company stock worth $33,081,037 over the last quarter. Company insiders own 0.80% of the company's stock.

Delta Air Lines News Roundup

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

Delta Air Lines Company Profile

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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