Delta Air Lines, one of the largest airlines in the US, saw its net profit fall by 25 per cent in the second quarter, but has reaffirmed its full-year 2026 forecast.
According to the company’s press release, net profit for April–June stood at $1.604 billion, or $2.44 per share, compared with $2.13 billion, or $3.27 per share, for the same period last year. Earnings excluding one-off items fell to $1.56 from $2.1 per share.
Revenue rose by 19 per cent to $19.757 billion, a record for the second quarter.
Analysts had forecast the airline’s adjusted earnings at $1.48 per share on average, according to LSEG. FactSet respondents had expected $1.49.
Delta Air’s revenue in the passenger transport segment rose by 13% to $15.6 billion, whilst load factor fell to 84.8% from 85.5% a year earlier. Revenue in the cargo segment rose by 39% to $294 million.
Fuel costs soared by 67 per cent to $4.109 billion.
Delta Air still plans to report adjusted earnings per share of between $6.5 and $7.5 for the full year. Experts surveyed by LSEG expect $5.97.
In the third quarter, the airline expects earnings of $2–2.5 per share, with revenue growth of approximately 17 per cent. The consensus forecast is $2.02.
Delta Air Lines’ share price rose by 1.4 per cent during Friday’s trading session. Since the start of this year, the airline’s market capitalisation has risen by 28 per cent (to $58.5 billion), whilst the S&P 500 index has risen by 10 per cent.