Filing Flows › Delta Air Lines (DAL) › Q1 2026
Delta Air Lines (DAL) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 8, 2026
Delta Air Lines (DAL) reported revenue of $15.9B for the first quarter 2026 (Q1 2026), +13% from a year earlier and -0.9% from the quarter before. Operating margin was 3.2%, net loss $289M (1.8% of revenue).
Delta Air Lines, Q1 2026: revenue $15.9B (+13% year over year), operating margin 3.2%, net loss $289M, operating cash flow $2.4B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.9B | -0.9% | +13% |
| Operating profit | $501M | -66% | -12% |
| Net earnings | −$289M | -124% | -220% |
| Operating cash flow | $2.4B | +8% | +2% |
| Free cash flow | $1.2B | — | -4% |
What changed
Revenue was $15.9B in Q1 2026, up 13% year over year and down 1% from the previous quarter. Passenger, Air Traffic was the largest line at 68% of revenue. Passenger, Air Traffic added $0.70B year over year (up 7%), 39% of the total change.
Operating profit was $0.50B, a 3.2% margin (down 0.9 points year over year). Operating profit fell $0.07B even though revenue rose $1.8B versus Q1 2025, so costs grew faster than sales. Total costs grew 14% against revenue growth of 13%. The fastest-growing cost line was Other operating costs (+14%). The quarter ended with a net loss of $0.29B, after a profit of $1.2B the previous quarter. Net interest and other expense of $0.71B was the main reason.
Operating cash flow was $2.4B (up 2% year over year). Non-cash charges added back $0.64B of depreciation and amortization. Working capital and other items added $2.1B. After net cash used in investing activities, net ($1.2B), free cash flow as the company reports it was $1.2B.
Questions
What was Delta Air Lines' revenue in the first quarter 2026?
Delta Air Lines (DAL) reported revenue of $15.9B for the first quarter 2026 (Q1 2026), +13% from a year earlier and -0.9% from the quarter before.
Was Delta Air Lines profitable in the first quarter 2026?
Operating profit was $501M (3.2% of revenue) and net loss $289M.
Source: Delta Air Lines 10-Q on SEC EDGAR.