Filing Flows › Delta Air Lines (DAL) › Q2 2026 › vs Q1 2026
Delta Air Lines (DAL) Q2 2026 vs Q1 2026 (quarter over quarter)
Delta Air Lines's revenue rose $3.9B (+25%) from $15.9B in Q1 2026 to $19.8B in Q2 2026. The biggest changes: Passenger +$3.3B (+27%); Other +$530M (+16%); Cargo +$68.0M (+30%). Operating margin 9.4% against 3.2% (+6.3 pts).
Delta Air Lines, Q2 2026: revenue $19.8B (+19% year over year), operating margin 9.4%, net earnings $1.6B, operating cash flow $1.6B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.4% | 3.2% | +6.3 pts |
| Net margin | 8.1% | -1.8% | +9.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Passenger, Air Traffic | $13.8B | $10.8B | $3.0B | +28% |
| Refinery | $2.1B | $1.7B | $437M | +26% |
| Loyalty and related | $1.3B | $1.2B | $123M | +10% |
| Loyalty travel awards | $1.2B | $1.0B | $218M | +21% |
| Travel-related services | $589M | $506M | $83.0M | +16% |
| MRO | $315M | $380M | −$65.0M | -17% |
| Miscellaneous | $106M | $71.0M | $35.0M | +49% |
| Passenger | $15.6B | $12.3B | $3.3B | +27% |
| Other | $3.9B | $3.3B | $530M | +16% |
| Cargo | $294M | $226M | $68.0M | +30% |
| Revenue | $19.8B | $15.9B | $3.9B | +25% |
| Other income, net | $145M | −$715M | $860M | — |
| Operating profit | $1.9B | $501M | $1.4B | +272% |
| Costs & expenses | $17.9B | $15.4B | $2.5B | +17% |
| Pre-tax earnings | $2.0B | −$214M | $2.2B | — |
| Sales & marketing | $726M | $590M | $136M | +23% |
| Other operating costs | $17.2B | $14.8B | $2.4B | +16% |
| Net earnings | $1.6B | −$289M | $1.9B | — |
| Income tax | $405M | $75.0M | $330M | +440% |
| Depreciation & amortization | $656M | $635M | $21.0M | +3% |
| Working capital & other | $665M | −$2.1B | $2.8B | — |
| Operating cash flow | $1.6B | $2.4B | −$837M | -34% |
Questions
How much did Delta Air Lines's revenue grow quarter over quarter in Q2 2026?
Delta Air Lines's revenue rose $3.9B (+25%) from $15.9B in Q1 2026 to $19.8B in Q2 2026.
What drove Delta Air Lines's revenue change in Q2 2026?
Passenger +$3.3B (+27%); Other +$530M (+16%); Cargo +$68.0M (+30%).