Earnings Snapshot: Delta sees Q4 revenue up ~20% despite soft EPS outlook; record Q3 sales

Delta (DAL) reported Q3 2026 revenue of $20.19B, beating estimates by 4.2%, but missed EPS expectations by 35.4%. Operating and free cash flow margins declined. Revenue passenger miles were stable. Full-year EPS guidance misses estimates by 4.5%.

Delta Air Lines (DAL) shares fell 5% premarket after reporting Q3 earnings of $1.72, below Bloomberg estimates, and lowering its full-year profit outlook due to higher fuel costs.

Delta Air Lines reduced its 2026 earnings outlook due to higher fuel costs, with adjusted EPS now $5.10-$5.60 vs. prior $6.50-$7.50. Q3 adjusted EPS was $1.72, missing estimates, while revenue grew 16% to $17.59B. Fuel expenses rose 62% YoY. The company expects Q4 revenue growth of 20% and adjusted EPS of $1.15-$1.65.

Delta Air Lines shares fell 2% premarket after missing Q3 profit estimates ($1.72 EPS vs. $1.92 expected) and cutting its full-year EPS outlook to $5.10-$5.60. Revenue was $17.6B, in line with consensus. The airline guided Q4 EPS to $1.15-$1.65 and expects 20% revenue growth. CEO Ed Bastian cited strong demand for travel.

Delta Air Lines reduced its annual profit forecast by nearly 25% due to rising fuel costs, which surged 62% year-over-year to $4.1 billion in Q3. The company now expects adjusted earnings of $5.10 to $5.60 per share, below analyst estimates. Delta's refinery partially offsets fuel costs, but elevated prices are expected to persist. Shares fell 3% in premarket trading.

Delta Air Lines (DAL) reported Q3 net income of $756M, or $1.15 per share, missing estimates. Revenue was $20.19B, also below forecasts. Q4 EPS guidance is $1.15-$1.65, and full-year EPS is expected to be $5.10-$5.60.