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How Delta Air Lines (DAL) makes money: Q3 2026 revenue breakdown
US GAAP · $M · vs Q3 2025 · quarter ended 09/30/2026 · reported 10/09/2026
Delta Air Lines, Inc. is a major airline in the United States headquartered in Atlanta, Georgia, operating nine hubs, with Hartsfield–Jackson Atlanta International Airport being its largest in terms of total passengers and number of departures. · Text: Wikipedia, CC BY-SA 4.0, abridged
More about the company
With its regional subsidiaries and contractors operating under the brand name Delta Connection, Delta has over 5,400 flights daily and serves 325 destinations in 52 countries on six continents.
Key growth driver: Passenger — the fastest-growing revenue line: $15,534, +15% y/y. · by the Q3 2026 report
How does Delta Air Lines make money?
Delta Air Lines brought in $20.2 billion of revenue in Q3 2026, up 21.1% year over year. The largest source was Passenger: $15.5 billion, or 77% of the total, followed by Cargo ($301M, 1%); other lines add the remaining 22%. Net income for the quarter was $756 million, down 46.6% year over year.
Revenue by source, Q3 2026
- Passenger$15.5B · 77% · +15.0%
- Other$4.35B · 22% · +48.3%
- Cargo$301M · 1% · +29.2%
Shares of $20.2B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is DAL’s next earnings date?
Tuesday, January 12, 2027estimated
Expected around Jan 12, 2027 — based on last year’s report on Jan 13, 2026. We have not yet seen the company's announcement of the date.
How we estimate
The estimate is the date of the same-quarter report a year ago, per the company’s SEC filing, moved forward 52 weeks (same weekday). Companies usually keep the same week; the date will be replaced once DAL announces it.
Same quarter a year ago (ended December 31, 2025): revenue $16B, EPS (GAAP) $1.85
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
What time does DAL report? Usually before market open: the last 4 results releases reached the SEC at 6:30 am, 6:30 am, 6:30 am, 6:30 am ET.
Last report: Oct 9, 2026 (Q3 2026) — broken down in the Sankey chart below. Dates: company announcements; past dates and times — SEC 8-K filings. Who else reports this week →
All figures in $M.
Revenue
$20,186
+21.1%
Operating income
$1,454
−13.7%
7.2% margin
Net income
$756
−46.6%
$1.15/sh · 3.7% margin
Verdict: revenue grew 21.1% y/y to $20.19B, operating margin 7.2% vs 10.1%, net income $756M (−46.6% y/y).
Source and notation
Source: Delta Air Lines press release, 8-K EX-99.1 of 10/09/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- net income fell 47% y/y in Q3 2026
Most likely because operating income was $1.45B, a 7.2% margin vs 10.1% a year earlier; the effective tax rate was 29.6% vs 20.3% a year earlier; costs grew faster than revenue (aircraft fuel and related taxes +69% y/y, refinery expense +76% y/y). Based on the Q3 2026 report.
The company's report ↗DAL earnings history: past report dates
| Oct 9, 2026 Fri | 6:30 ambefore market open | Sep 30, 2026 | $20.2B+21% y/y | $1.15−47% y/y |
| Jul 10, 2026 Fri | 6:30 ambefore market open | Jun 30, 2026 | $19.8B+19% y/y | $2.44−25% y/y |
| Apr 8, 2026 Wed | 6:30 ambefore market open | Mar 31, 2026 | $15.9B+13% y/y | −$0.44 |
| Jan 13, 2026 Tue | 6:30 ambefore market open | Dec 31, 2025 | ≈$16.0B+3% y/y | ≈$1.85+43% y/y |
| Oct 9, 2025 Thu | 6:30 ambefore market open | Sep 30, 2025 | $16.7B+6% y/y | $2.17+10% y/y |
| Jul 10, 2025 Thu | 6:30 ambefore market open | Jun 30, 2025 | $16.6B−0% y/y | $3.27+63% y/y |
| Apr 9, 2025 Wed | 6:30 ambefore market open | Mar 31, 2025 | $14.0B+2% y/y | $0.37+517% y/y |
| Jan 10, 2025 Fri | 6:30 ambefore market open | Dec 31, 2024 | ≈$15.6B+9% y/y | ≈$1.29−59% y/y |
| Oct 10, 2024 Thu | 6:30 ambefore market open | Sep 30, 2024 | $15.7B+1% y/y | $1.97+15% y/y |
| Jul 11, 2024 Thu | 6:30 ambefore market open | Jun 30, 2024 | $16.7B+7% y/y | $2.01−29% y/y |
| Apr 10, 2024 Wed | 6:30 ambefore market open | Mar 31, 2024 | $13.7B+8% y/y | $0.06 |
| Jan 12, 2024 Fri | 6:30 ambefore market open | Dec 31, 2023 | ≈$14.2B+6% y/y | ≈$3.18+145% y/y |
| Oct 12, 2023 Thu | 6:30 ambefore market open | Sep 30, 2023 | $15.5B+11% y/y | $1.72+59% y/y |
| Jul 13, 2023 Thu | 6:30 ambefore market open | Jun 30, 2023 | $15.6B+13% y/y | $2.84+147% y/y |
| Apr 13, 2023 Thu | 6:30 ambefore market open | Mar 31, 2023 | $12.8B+36% y/y | −$0.57+61% y/y |
| Jan 13, 2023 Fri | 6:30 ambefore market open | Dec 31, 2022 | ≈$13.4B+42% y/y | ≈$1.30 |
Show all 16 reports since 2023Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Delta Air Lines: 15-year financials
| 2025 | 63,364 | 5,822 | 5,005 | 3,843 | 440 |
| 2024 | 61,643 | 5,995 | 3,457 | 2,885 | 321 |
| 2023 | 58,048 | 5,521 | 4,609 | 1,141 | 128 |
| 2022 | 50,582 | 3,661 | 1,318 | −3 | — |
| 2021 | 29,899 | 1,886 | 280 | 17 | — |
| 2020 | 17,095 | −12,469 | −12,385 | −5,692 | 260 |
| 2019 | 47,007 | 6,618 | 4,767 | 3,489 | 980 |
| 2018 | 44,438 | 5,264 | 3,935 | 1,846 | 909 |
| 2017 | 41,138 | 5,966 | 3,205 | 1,132 | 731 |
| 2016 | 39,450 | 6,996 | 4,195 | 3,824 | 509 |
| 2015 | 40,704 | 7,802 | 4,526 | 4,982 | 359 |
| 2014 | 40,362 | 2,206 | 659 | 2,698 | 251 |
| 2013 | 37,773 | 3,400 | 10,540 | 1,936 | 102 |
| 2012 | 36,670 | 2,175 | 1,009 | 508 | — |
| 2011 | 35,115 | 1,975 | 854 | — | — |
Show all 15 yearsShow fewer
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Sep 30, 2026: $22.5B (26% of total assets). Compare with other S&P 500 companies →
Delta Air Lines (DAL) earnings: FAQ
How does Delta Air Lines make money?
Delta Air Lines brought in $20.2 billion of revenue in Q3 2026, up 21.1% year over year. The largest source was Passenger: $15.5 billion, or 77% of the total, followed by Cargo ($301M, 1%); other lines add the remaining 22%. Net income for the quarter was $756 million, down 46.6% year over year.
When is DAL's next earnings date?
We have not yet seen an announcement of the date from Delta Air Lines (DAL). Based on last year's report on Jan 13, 2026, the next report is expected around Jan 12, 2027.
What time does DAL report earnings?
Delta Air Lines usually reports before market open: its latest results release was filed with the SEC at 6:30 am ET on Oct 9, 2026.
When did DAL last report earnings?
Delta Air Lines reported Q3 2026 results on Oct 9, 2026.
Where can I find Delta Air Lines's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to DAL's filings; this page breaks the latest report down in a Sankey chart.
What was DAL's net income in Q3 2026?
Delta Air Lines reported net income of $756M for Q3 2026 (−46.6% year over year), under US GAAP.
Does Delta Air Lines pay dividends?
Yes. In 2025, Delta Air Lines paid $440M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has Delta Air Lines's revenue changed since 2011?
Per its 10-K filings, revenue grew 1.8x: $35,115M in 2011 and $63,364M in 2025. The latest year is the highest in the table. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report — two independent automated readings of the release had to match, and every number in the text was checked against it. Figures checked against the filing on 10/16/2026. How we make the breakdowns · Report an error
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