Delta Air Lines (DAL) beat expectations in Q2 FY2026 on revenue of $19.8B versus the $17.4B estimate (+18.7% YoY) and EPS of $1.56. The next Delta Air Lines (DAL) earnings date is Oct 8, 2026. Below is the full Delta Air Lines earnings breakdown — the risk-adjusted verdict, price forecast, technicals, options and hedge-fund 13F holdings, decoded in plain English.
Delta Air Lines (DAL) Earnings Analysis — key stats
Next earnings date
Oct 8, 2026
Latest reported quarter
Q2 FY2026
Earnings verdict
Beat
EPS beat rate
5 of last 8 (quarters above estimate)
Avg next-day move
±4.5% (over the last 8 reports)
Post-earnings direction
Up 7 / Down 1 (of the last 8 reports)
Implied move (next report)
±13.1% (options-derived · into Oct 8, 2026)
Institutional ownership
92.4% (13F as of 2026-06-30)
Top 10 holders
48.0% (of shares outstanding)
Insider activity
4 buys / 8 sells (recent Form 4 filings)
Revenue
$19.8B (vs $17.4B est · +13.4% surprise · +18.7% YoY)
EPS
$1.56 (vs $1.49 est · +4.7% surprise · -25.5% YoY)
Share price
$82.48 (+0.1%)
Market cap
$54.2B
Delta Air Lines (DAL) Earnings Analysis — beat / miss history
Quarter
Revenue
EPS
EPS surprise
Next-day move
Verdict
Q3 FY2026
$19.8B vs $17.4B est
$1.56 vs $1.49 est
+4.7%
+0.1%
Beat
Q2 FY2026
$14.2B vs $14.0B est
$0.64 vs $0.58 est
+10.3%
+3.4%
Mixed
Q1 FY2026
$14.6B vs $14.7B est
$1.55 vs $1.53 est
+1.3%
-3.6%
In line
Q4 FY2025
$16.7B vs $15.1B est
$1.71 vs $1.57 est
+8.9%
+0.6%
Beat
Q3 FY2025
$16.6B vs $15.5B est
$2.10 vs $2.06 est
+1.9%
+11.7%
Mixed
Q2 FY2025
$14.0B vs $13.0B est
$0.46 vs $0.38 est
+20.9%
+9.7%
Beat
Q1 FY2025
$15.6B vs $14.2B est
$1.85 vs $1.74 est
+6.3%
+6.0%
Beat
Q4 FY2024
$15.7B vs $14.6B est
$1.50 vs $1.52 est
-1.3%
+0.7%
Mixed
Top institutional holders
Holder
% outstanding
Shares
Value
QoQ change
Berkshire Hathaway INC
8.8%
57.3M
$5.4B
+44.0%
Blackrock, INC.
6.9%
45.1M
$4.2B
+2.2%
Vanguard Capital Management LLC
6.3%
41.3M
$3.9B
-1.5%
Fmr LLC
5.1%
33.2M
$3.1B
+20.7%
Sanders Capital, LLC
4.5%
29.1M
$2.7B
-1.1%
Vanguard Portfolio Management LLC
4.0%
26.3M
$2.5B
-3.8%
State Street Corp
3.7%
24.1M
$2.3B
+2.9%
Capital International Investors
3.2%
20.7M
$1.9B
+0.6%
Geode Capital Management, LLC
2.8%
18.5M
$1.8B
+3.0%
Primecap Management CO/Ca/
2.7%
17.5M
$1.6B
-0.2%
Recent insider transactions
Insider
Role
Date
Type
Shares
Value
HUERTA MICHAEL P
director
2026-08-05
Sell
3K
$291757
BELLEMARE ALAIN
officer: EVP & Pres. - International
2026-08-04
Sell
35K
$1.4M
Sear Steven M
officer: EVP - Global Sales & Distrib
2026-08-05
Buy
40K
$2.1M
Sear Steven M
officer: EVP - Global Sales & Distrib
2026-08-05
Sell
40K
$3.8M
Sear Steven M
officer: EVP - Global Sales & Distrib
2026-08-05
Sell
40K
$2.1M
Carter Peter W
officer: President
2026-08-04
Buy
40K
$2.0M
Carter Peter W
officer: President
2026-08-04
Sell
40K
$3.7M
Carter Peter W
officer: President
2026-08-04
Sell
40K
$2.0M
What you'll find
Next Delta Air Lines (DAL) earnings date, the expected move and the estimates priced in
A clear Beat / Miss / In-line / Mixed verdict the moment Delta Air Lines reports
Revenue & EPS versus estimates, guidance and segment trends
Multi-lens price forecast — analyst, quant, technical and options views
Deep research: red flags, risk decoder and earnings-call sentiment
Technicals, options / implied volatility and unusual-activity signals
Hedge-fund and legendary-investor 13F holdings in Delta Air Lines (DAL)
Side-by-side peer and historical earnings comparison
Frequently asked questions
When is Delta Air Lines's next earnings date?
Delta Air Lines's (DAL) next scheduled earnings date is Oct 8, 2026. Magnisto shows the confirmed date, the options-implied expected move and the revenue and EPS estimates Wall Street is modeling into the report.
Did Delta Air Lines (DAL) beat or miss earnings?
In Q2 FY2026, Delta Air Lines (DAL) posted beat results — revenue of $19.8B versus the $17.4B estimate (+13.4% surprise) and EPS of $1.56 versus $1.49 expected (+4.7% surprise). Magnisto decodes every Delta Air Lines (DAL) report into a clear Beat, Miss, In-line or Mixed verdict and checks whether guidance was raised, held or cut.
How often does Delta Air Lines beat earnings estimates?
Over its last 8 reported quarters, Delta Air Lines (DAL) beat Wall Street EPS estimates 5 times, most recently a beat result in Q3 FY2026. Magnisto tracks every Delta Air Lines (DAL) quarter's revenue and EPS versus consensus and grades each one Beat, Miss, In-line or Mixed at a unified ±2% threshold.
How much does Delta Air Lines stock move after earnings?
Over its last 8 quarterly reports, Delta Air Lines (DAL) moved an average of ±4.5% the day after earnings — ranging from -3.6% (Q1 FY2026) to +11.7% (Q3 FY2025). The stock rose after 7 of those 8 reports and fell after 1. Heading into its next report on Oct 8, 2026, options-implied volatility is pricing in a move of roughly ±13.1% (derived). Magnisto tracks the realized post-earnings move for every Delta Air Lines (DAL) quarter alongside the beat/miss verdict — past moves don't predict the next one.
Who are the largest shareholders of Delta Air Lines?
Institutions hold about 92.4% of Delta Air Lines's (DAL) shares outstanding as of the 2026-06-30 13F quarter. Its largest institutional holders include Berkshire Hathaway INC (8.8%), Blackrock, INC. (6.9%), Vanguard Capital Management LLC (6.3%). Magnisto lists Delta Air Lines's (DAL) top 13F holders with each stake size and its quarter-over-quarter change.
Are insiders buying or selling Delta Air Lines (DAL)?
In the most recent Form 4 filings Magnisto tracks, Delta Air Lines (DAL) insiders recorded 4 purchases and 8 sales — net selling. Insider transactions are one signal among many and are often routine (option exercises or scheduled 10b5-1 sales), so Magnisto shows the raw feed for you to judge.
What is the forecast for Delta Air Lines (DAL) stock?
Magnisto blends analyst price targets, quantitative research, technical trend and options-implied moves into a scenario range for Delta Air Lines (DAL), anchored to the current $82.48 share price, so you can weigh the bull, base and bear cases for Delta Air Lines side by side.
Is Delta Air Lines (DAL) a buy right now?
Magnisto does not give buy or sell tips. It gives you the institutional-grade evidence — the verdict, valuation, risks, technicals and hedge-fund 13F flows — so you can decide whether Delta Air Lines fits your own thesis and risk profile. This is research, not investment advice.