Delta Air Lines, Inc.'s results for September quarter 2026 (quarter ended Sep 30, 2026) come from the company's own earnings release, filed with the SEC on 2026-10-09. Everything below is taken from that filing; quotes are copied exactly. Company outlooks are the company's own.
At a glance
| Item | Value |
|---|---|
| Revenue (GAAP) | $20,186 million (+21.1% vs a year earlier) |
| Diluted EPS (GAAP) | $1.15 |
| Adjusted per-share figure (company's non-GAAP measure; FFO/AFFO for REITs) | $1.72 |
| Full-year guidance | Stated (no change given) |
Guidance
Delta guides FY2026 EPS of $5.10–5.60 and free cash flow near $2.5 billion; December-quarter revenue up about 20%, EPS $1.15–1.65.
Why this label: FY2026 EPS $5.10-5.60 and FCF given with no prior figures or direction; release never says first/initial guidance, so 'initiated' unsupported.
| Metric | Period | New | Prior (as stated in the release) |
|---|---|---|---|
| EPS (non-GAAP) | FY2026 | $5.10–5.60 | not stated |
| free cash flow (non-GAAP) | FY2026 | approximately $2.5 billion | not stated |
| gross leverage (adjusted debt to EBITDAR) | FY2026 | approximately 2.2x | not stated |
| pre-tax profit | FY2026 | roughly $4.5 billion | not stated |
Next-quarter outlook:
| Metric | Period | Range |
|---|---|---|
| total revenue growth y/y | December quarter 2026 | approximately 20% |
| operating margin | December quarter 2026 | 7%–9% |
| EPS (non-GAAP) | December quarter 2026 | $1.15–1.65 |
From the release
Revenue: "Operating revenue · 20,186 · 16,673 · 3,513 · 21 · %"
Earnings per share: "Diluted earnings per share · 1.15 · 2.17"
EPS (non-GAAP): "Outlook for full-year EPS of $5.10 to $5.60 and free cash flow of approximately $2.5 billion"
free cash flow (non-GAAP): "Free Cash Flow ($B) · Approx. $2.5"
gross leverage (adjusted debt to EBITDAR): "Gross Leverage 2 · Approx. 2.2x"
Quotes are copied from the filing; in table rows, cell borders are shown as “·”.
Key fact: Record September-quarter adjusted revenue of $17.6 billion, up 16%; Q4 guided up about 20%.
Source
Delta Air Lines, Inc. earnings release (SEC filing), accession 0000027904-26-000035, filed 2026-10-09.
Part of the Q3 2026 Guidance Tracker. Educational only, not advice. Free weekly recap every Sunday: yieldterminalpro.com/newsletter.