Every 10-Q that Delta Air Lines, Inc. (DAL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DAL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DAL filings page.
Delta Air Lines, Inc. reported strong top-line growth but lower profitability for the quarter ended June 30, 2026. Total operating revenue rose to $19.8 billion from $16.6 billion a year earlier, driven by a $1.7 billion increase in passenger revenue, higher refinery sales to third parties, and growth in cargo and MRO activity. Operating income decreased to $1.9 billion from $2.1 billion as total operating expense grew 23%, largely from sharply higher fuel costs, refinery expense and salaries.
Average jet fuel price climbed to $3.66 per gallon from $2.21, and CASM-Ex rose 6.8% to 14.09¢. Net income for the quarter declined to $1.6 billion from $2.1 billion, with diluted EPS at $2.44. For the first six months, operating cash flow was $4.0 billion, capital expenditures were $2.7 billion, and total debt stood at $12.9 billion. Liquidity, including cash, cash equivalents, short-term investments and undrawn revolvers, totaled $7.7 billion as of June 30, 2026. Future aircraft purchase commitments were approximately $27.6 billion for 332 aircraft.
Delta Air Lines posted higher revenue but a net loss for the March 2026 quarter. Total operating revenue rose to $15.9 billion, up 13% from a year earlier, driven by stronger premium passenger demand, higher loyalty revenue, refinery sales and MRO growth.
Operating income slipped to $501 million from $569 million as operating expenses increased 14%, mainly from fuel, refinery costs and higher salaries. A $550 million loss on investments pushed results to a net loss of $289 million, or $0.44 per share, versus prior-year net income of $240 million.
Cash generation remained solid: operating cash flow was $2.4 billion, free cash flow reached $1.2 billion, and liquidity totaled $8.1 billion, including undrawn credit lines. Delta also continued reducing debt, paying down $1.6 billion of debt and finance leases while adding a new $1.25 billion term loan.
Delta Air Lines reported stronger operating results for the September 2025 quarter, with operating income of $1.7 billion, up ? year-over-year and total revenue rising by $1.0 billion. Passenger revenue grew by $399 million, driven by premium product sales and loyalty travel awards, while total adjusted revenue increased 4.1%. Total operating expense rose 5%, reflecting a 4% capacity increase and higher employee costs, partly offset by lower aircraft fuel costs. Fuel expense fell as jet fuel prices declined, reducing fuel's share of operating expense to approximately 17% from 20% year-to-date.
Liquidity remained solid with approximately $6.9 billion available and $3.1 billion undrawn on revolvers. Free cash flow for the quarter was $833 million, capital expenditures are expected to be about $5.0 billion for 2025, and the company issued $2.0 billion of unsecured notes in June. The refinery produced lower operating income due to weaker refined product pricing.