Delta earns $1.72 per share, missing Q3 2026 estimates

Delta Air Lines reported earnings of $1.72 per share for the third quarter of 2026. The result missed the consensus estimate of $1.99 per share. Analysts had projected revenue of $17.78 billion.

The company stated that third-quarter earnings per share of $1.72 were in line with the prior-year period. Pre-tax profit reached $1.5 billion, matching performance from a year earlier. Chief Commercial Officer Joe Esposito stated that revenue grew approximately 16 percent over the prior year on flat capacity.

The airline absorbed more than $500 million of higher fuel costs compared to its guidance issued in early July. Chief Financial Officer Erik Snell noted that non-fuel unit costs increased 7.3 percent over the prior year, influenced by higher crew and revenue-related costs as well as summer storms. Free cash flow for the quarter was $463 million, bringing year-to-date free cash flow to $1.9 billion.

For the December quarter, the company expects earnings of $1.15 to $1.65 per share based on an estimated fuel price of approximately $4.25 per gallon, alongside revenue growth of approximately 20 percent over last year. For the full year 2026, Delta projects pre-tax profit of roughly $4.5 billion, earnings per share of $5.10 to $5.60, free cash flow of approximately $2.5 billion, and plans to pay down more than $2 billion of debt.