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Get filing alertsDelta Air Lines reports record Q3 revenue of $17.6B adjusted, EPS $1.72, guides ~20% Q4 growth
Filed October 9, 2026 · Period ending October 9, 2026 · ~1 min read
Key Changes
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Adjusted operating revenue reached $17.6 billion, up 16% year-over-year; GAAP revenue was $20.2 billion, up 21%.
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Adjusted diluted EPS was $1.72, up 1% from $1.70; GAAP EPS fell 47% to $1.15 on higher fuel costs and investment losses.
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December quarter revenue is expected to grow approximately 20%, with EPS guidance of $1.15 to $1.65.
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Adjusted fuel price rose 60% year-over-year to $3.61 per gallon; Q4 guidance assumes $4.25 per gallon.
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Adjusted net debt fell $950 million during 2026 to $13.4 billion; full-year debt paydown expected to exceed $2 billion.
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Summary
Delta Air Lines reported strong third-quarter 2026 results, with adjusted revenue of $17.6 billion and adjusted EPS of $1.72. The company guided to approximately 20% revenue growth in the December quarter, reflecting continued demand momentum. However, fuel costs remain a significant headwind: adjusted fuel price rose 60% year-over-year to $3.61 per gallon, and the company absorbed more than $500 million of higher fuel costs versus its July guidance.
December quarter guidance assumes an all-in fuel price of approximately $4.25 per gallon, which could pressure margins if fuel prices remain elevated. On the balance sheet, Delta reduced adjusted net debt by $950 million during 2026 to $13.4 billion and expects to pay down more than $2 billion of debt for the full year, with gross leverage ending 2026 at approximately 2.2x. For retail investors, the key takeaway is that Delta is growing revenue and deleveraging, but fuel cost inflation is a material risk to near-term profitability.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Delta Air Lines reported Q3 2026 financial results via press release furnished as Exhibit 99.1.
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Delta Air Lines, Inc. today issued a press release reporting financial results for the quarter ended September 30, 2026.
Delta announced its financial results for the third quarter of 2026. The press release containing the detailed figures is furnished as Exhibit 99.1 to this Form 8-K. Investors should review the exhibit for revenue, earnings, and other metrics.
Event · Exhibit 99.1
Delta reported record September quarter revenue of $17.6B adjusted, EPS of $1.72, and guided to ~20% December quarter revenue growth.
Added in current filing · view on EDGAR →
Expect continued momentum in December quarter with revenue expected to grow approximately 20 percent
Delta guided to approximately 20% total revenue growth in the December 2026 quarter, with EPS of $1.15 to $1.65. Full-year 2026 EPS is expected to be $5.10 to $5.60, with free cash flow of approximately $2.5 billion.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 13, 2026 · How we verify