Filing Flows › Delta Air Lines (DAL) › Guidance history
Delta Air Lines (DAL) guidance history: what it guided and what it reported
Delta Air Lines gave guidance in 12 earnings releases on file since Jan 12, 2024. Its releases raised guidance 3 times and lowered it once.
Operating margin
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 2026 | 11.0%–13.0% (Jul 10, 2026) | — | — | — |
| Q2 2026 | 6.0%–8.0% (Apr 8, 2026) | — | — | — |
| FY2026 | 3.2% (Apr 8, 2026) → raised 9.4% (Jul 10, 2026) | — | to be reported | — |
| Q1 2026 | 4.5%–6.0% (Jan 13, 2026) | — | — | — |
| Q3 2025 | 9.0%–11.0% (Jul 10, 2025) | — | — | — |
| Q2 2025 | 11.0%–14.0% (Apr 9, 2025) | — | — | — |
| Q1 2025 | 6.0%–8.0% (Jan 10, 2025) | — | — | — |
| Q4 2024 | 11.0%–13.0% (Oct 10, 2024) | — | — | — |
| Q3 2024 | 11.0%–13.0% (Jul 11, 2024) | — | — | — |
| Q2 2024 | 14.0%–15.0% (Apr 10, 2024) | — | — | — |
Adjusted operating margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2025 | 10.5%–12.0% (Oct 9, 2025) | — | — | — |
Operating income
Every guided period is still to be reported.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $1.9B (Jul 10, 2026) | — | to be reported | — |
Free cash flow
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $3.0B–$4.0B (Jan 13, 2026) → lowered $2.5B (Oct 9, 2026) | — | to be reported | — |
| FY2025 | $4.0B (Jan 10, 2025) → lowered $3.0B–$4.0B (Jul 10, 2025) → raised $3.5B–$4.0B (Oct 9, 2025) | $3.8B (GAAP) | not judged | — |
| FY2024 | $3.0B–$4.0B (Jan 12, 2024) → reaffirmed $3.0B–$4.0B (Apr 10, 2024) → reaffirmed $3.0B–$4.0B (Jul 11, 2024) | $2.9B (GAAP) | not judged | — |
EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | $1.15–$1.65 (Oct 9, 2026) | — | to be reported | — |
| Q2 2026 | $1.00–$1.50 (Apr 8, 2026) | — | — | — |
| Q1 2026 | $0.50–$0.90 (Jan 13, 2026) | — | — | — |
| FY2026 | $6.50–$7.50 (Jan 13, 2026) → lowered −$0.44 (Apr 8, 2026) → raised $5.10–$5.60 (Oct 9, 2026) | — | to be reported | — |
| Q3 2025 | $1.25–$1.75 (Jul 10, 2025) | — | — | — |
| FY2025 | $1.25–$1.75 (Jul 10, 2025) | — | — | — |
| Q2 2025 | $1.70–$2.30 (Apr 9, 2025) | — | — | — |
| Q4 2024 | $1.60–$1.85 (Oct 10, 2024) | — | — | — |
| Q3 2024 | $1.70–$2.00 (Jul 11, 2024) | — | — | — |
| Q2 2024 | $2.20–$2.50 (Apr 10, 2024) | — | — | — |
Operating cash flow
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $2.4B (Apr 8, 2026) → lowered $1.6B (Jul 10, 2026) | — | to be reported | — |
| FY2024 | $2.4B (Apr 10, 2024) | $8.0B (GAAP) | not judged | — |
The latest quarter
Delta Air Lines, Q3 2026: revenue $20.2B (+21% year over year), operating margin 7.2%, net earnings $756M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
Questions
Does Delta Air Lines beat its guidance?
Delta Air Lines gave guidance in 12 earnings releases on file since Jan 12, 2024. Its releases raised guidance 3 times and lowered it once.
How often does Delta Air Lines raise guidance?
Its earnings releases raised guidance 3 times and lowered it once since Jan 12, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.