Filing Flows › Delta Air Lines (DAL) › Q2 2026
Delta Air Lines (DAL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 10, 2026
Delta Air Lines (DAL) reported revenue of $19.8B for the second quarter 2026 (Q2 2026), +19% from a year earlier and +25% from the quarter before. Operating margin was 9.4%, net earnings $1.6B (8.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.8B | +25% | +19% |
| Operating profit | $1.9B | +272% | -11% |
| Net earnings | $1.6B | — | -25% |
| Operating cash flow | $1.6B | -34% | -14% |
| Free cash flow | $208M | — | -72% |
What changed
Revenue was $19.8B in Q2 2026, up 19% year over year and up 25% from the previous quarter. Passenger, Air Traffic was the largest line at 70% of revenue. Passenger, Air Traffic added $1.5B year over year (up 12%), 49% of the total change.
Operating profit was $1.9B, a 9.4% margin (down 3.2 points year over year). Operating profit fell $0.24B even though revenue rose $3.1B versus Q2 2025, so costs grew faster than sales. Total costs grew 23% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+24%). Net earnings were $1.6B, down 25% year over year. The effective tax rate was 20.2%.
Operating cash flow was $1.6B (down 14% year over year), 99% of net earnings. Non-cash charges added back $0.66B of depreciation and amortization. Working capital and other items used $0.67B. After net cash used in investing activities, net ($1.4B), free cash flow as the company reports it was $0.21B.
Questions
What was Delta Air Lines' revenue in the second quarter 2026?
Delta Air Lines (DAL) reported revenue of $19.8B for the second quarter 2026 (Q2 2026), +19% from a year earlier and +25% from the quarter before.
Was Delta Air Lines profitable in the second quarter 2026?
Operating profit was $1.9B (9.4% of revenue) and net earnings $1.6B.
Source: Delta Air Lines 10-Q on SEC EDGAR.