Delta Air Lines (NYSE:DAL) Issues Q4 2026 Earnings Guidance

Delta Air Lines (NYSE:DAL) issued an update on its fourth quarter 2026 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.150-1.650 for the period, compared to the consensus EPS estimate of 1.470. The company issued revenue guidance of $17.5 billion, compared to the consensus revenue estimate of $18.4 billion. Delta Air Lines also updated its FY 2026 guidance to 5.100-5.600 EPS.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings upgraded Delta Air Lines from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Benchmark reaffirmed a “buy” rating on shares of Delta Air Lines in a report on Wednesday, July 8th. Rothschild & Co Redburn increased their price objective on shares of Delta Air Lines from $104.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 18th. Morgan Stanley boosted their price target on shares of Delta Air Lines from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, TD Cowen decreased their price objective on Delta Air Lines from $105.00 to $101.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Twenty-two equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.24.

Delta Air Lines Stock Performance

Shares of DAL opened at $82.32 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. The company’s fifty day moving average is $83.51 and its two-hundred day moving average is $79.84. The stock has a market capitalization of $54.13 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.40 and a beta of 1.34. Delta Air Lines has a 1 year low of $55.03 and a 1 year high of $95.68.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Friday, October 9th. The transportation company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.05). The firm had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.65 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 earnings per share. 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. On average, sell-side analysts predict that Delta Air Lines will post 5.59 earnings per share for the current year.

Delta Air Lines Announces Dividend

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

Insider Activity

In related news, EVP Steven M. Sear sold 40,460 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the completion of the transaction, the executive vice president owned 104,404 shares in the company, valued at $9,766,994.20. The trade was a 27.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the transaction, the executive vice president directly owned 95,025 shares of the company’s stock, valued at $8,810,718. The trade was a 26.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 356,726 shares of company stock worth $33,081,037 over the last quarter. Corporate 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: Delta reported record September-quarter revenue of approximately $17.6 billion, up 21.1% year over year, reflecting resilient passenger demand, healthy yields and strength in its premium business. Management said bookings remain strong and expects revenue to grow about 20% in the December quarter. Delta Air Lines Announces September Quarter 2026 Financial Results
• Positive Sentiment: Management expects higher fares to help offset elevated fuel expenses and projects approximately $2.5 billion of 2026 free cash flow, while targeting more than $2 billion of debt repayment. These plans support Delta’s balance-sheet and shareholder-return narrative. Delta Air Lines cuts 2026 forecast on fuel surge, but CEO says demand is still strong
• Positive Sentiment: Analyst sentiment remains broadly favorable, including a Buy rating from Morgan Stanley. Call-option activity was also above normal, suggesting some traders continue to anticipate a recovery despite the guidance reduction.
• Neutral Sentiment: Delta CEO Ed Bastian said the company can absorb roughly $6 billion in additional fuel costs and sees no meaningful deterioration in travel demand. However, the timing and persistence of fuel-price relief remain uncertain. Delta Air Lines cuts profit forecast as fuel costs outpace fare gains
• Negative Sentiment: Adjusted third-quarter EPS was $1.72, below the $1.77 consensus, while revenue also narrowly missed estimates. The earnings miss was Delta’s first in roughly two years and indicates that rising costs are already pressuring margins.
• Negative Sentiment: Jet-fuel expense increased more than 60% year over year, overwhelming revenue gains. Delta cut 2026 adjusted EPS guidance to $5.10–$5.60 from $6.50–$7.50; fourth-quarter EPS guidance of $1.15–$1.65 and revenue guidance of $17.5 billion were also below consensus. DAL Q3 Earnings Miss Estimates as Higher Fuel Costs Hurt Margins

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.