Delta Air Lines to Report Q2 Earnings: What's in the Offing?

Delta Air Lines DAL is scheduled to report second-quarter 2026 results on July 10, before the market opens.The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $1.44 per share, indicating a 31.4% year-over-year decrease. The measure has been revised 4% downward over the past 6…

Delta Air Lines DAL is scheduled to report second-quarter 2026 results on July 10, before the market opens.

The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $1.44 per share, indicating a 31.4% year-over-year decrease. The measure has been revised 4% downward over the past 60 days. The same for revenues is pegged at $17.72 billion, indicating a 6.5% increase from the second-quarter 2025 actuals.

For 2026, the Zacks Consensus Estimate for earnings is pegged at $5.36 per share, indicating a 7.9% year-over-year decrease, and has been revised 0.2% upward over the past 60 days. The same for revenues is pegged at $65.9 billion, indicating a 4.1% increase from 2025 actuals.

DAL has an impressive earnings surprise history, surpassing the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 5.4%.

Delta Air Lines Price and EPS Surprise

Delta Air Lines price-eps-surprise | Delta Air Lines Quote

Given this backdrop, let us examine the factors that might have influenced Delta Air Lines’ performance in the to-be-reported quarter.

The interim peace deal between the United States and Iran has resulted in a sharp fall in oil prices. This development is likely to have aided DAL’s bottom-line performance since expenses on fuel represent a key input cost for airlines.

Moreover, strong bookings are likely to have aided DAL’s top-line performance in the June quarter. Driven by strong consumer and corporate demand, Delta expects its second-quarter revenues to increase in the low teens year over year.

High labor costs are likely to have hurt the bottom line. The Zacks Consensus Estimate for non-fuel unit cost, or cost per available seat mile (CASM: adjusted), is pegged at 14.25 cents compared with 13.49 cents reported in the second quarter of 2025.

Despite having come down from the highs witnessed when the war between the nations was in full flow, oil prices are fluctuating, given the fragility of the interim peace deal. In this scenario, focus will also be on DAL’s guidance for the September quarter as well as for full-year 2026.

What Our Model Says About DAL

Our proven model conclusively predicts an earnings beat for Delta Air Lines this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is the exactly case here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Delta Air Lines has an Earnings ESP of +0.56% and a Zacks Rank #3.

Highlights of DAL’s Q1 Earnings

Delta Air Lines reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis.

Adjusted revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis. Passenger revenues, which accounted for 77.5% of total revenues, increased 7% year over year to $12.30 billion.

Other Stocks to Consider

Here are a few other stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these too have the right combination of elements to beat on earnings this reporting cycle.

CSX Corporation CSX has an Earnings ESP of +6.74% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

CSX is scheduled to report second-quarter 2026 earnings on July 22. The Zacks Consensus Estimate for second-quarter 2026 earnings has been revised marginally upward over the past 30 days. CSX’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters and missed in the remaining one, the average beat being 3.2%.

Union Pacific UNP has an Earnings ESP of +2.09% and a Zacks Rank #3 at present. UNP is scheduled to report second-quarter 2026 earnings on July 23.

The Zacks Consensus Estimate for second-quarter 2026 earnings has remained stable at $3.14 per share over the past 60 days. UNP’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters (missing the mark on the other occasion). The average beat is 2.3%.

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