Delta Air Lines Q4 Earnings Call Highlights

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MarketBeat

Tue, January 13, 2026 astatine 10:54 AM CST 8 min read

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Delta closed fiscal 2025 with grounds gross of $58.3 billion, an operating borderline of 10%, pre-tax income of $5 billion, and grounds escaped currency travel of $4.6 billion, utilizing currency to trim indebtedness by $2.6 billion and decorativeness the twelvemonth astatine astir 2.4x gross leverage.
For fiscal 2026 absorption forecast March-quarter gross maturation of 5%–7%, Q1 EPS of $0.50–$0.90, full-year EPS of $6.50–$7.50, escaped currency travel of $3–$4 billion, targeted year-end leverage of 2x, astir 3% capableness maturation concentrated successful premium cabins, and $5.5 billion of planned capex (≈50 craft deliveries).
Strategically, Delta ordered 30 Boeing 787-10s (options for 30 more) to enactment long-haul planetary expansion, portion diversifying revenue—higher-margin streams present correspond 60% of full gross and AmEx co-brand remuneration grew to $8.2 billion with a longer-term people of $10 billion; enactment changes see Joe Esposito elevated to Chief Commercial Officer.
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Delta Air Lines (NYSE:DAL) executives said the bearer closed fiscal 2025 with grounds revenue, beardown currency generation, and continued advancement connected equilibrium expanse improvement, portion outlining expectations for renewed request momentum and net maturation successful fiscal 2026. Management besides highlighted a enactment modulation successful the commercialized enactment and announced a caller wide-body craft bid aimed astatine supporting semipermanent planetary enlargement and fleet renewal.

Chief Executive Officer Ed Bastian told investors Delta delivered “a beardown close” to its centennial twelvemonth contempt what helium described arsenic a challenging environment. The institution reported full-year grounds gross of $58.3 billion, an operating borderline of 10%, pre-tax income of $5 billion, and net of $5.82 per share. Bastian emphasized escaped currency travel arsenic a cardinal highlight, with Delta generating $4.6 billion for the year, which helium said was the highest successful institution history.

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Chief Financial Officer Dan Janki added that Delta reinvested $4.3 billion successful the concern successful 2025, including 38 craft deliveries, and utilized currency travel to trim indebtedness by $2.6 billion. Delta ended the twelvemonth with gross leverage of 2.4 times, adjusted nett indebtedness of astir $14 billion, and $35 billion successful unencumbered assets.

For the December quarter, executives reported grounds gross of $14.6 billion. Janki said the 4th produced pre-tax nett of $1.3 billion, an operating borderline of 10%, and net of $1.55 per share. He noted the authorities shutdown reduced pre-tax nett by $200 million, oregon $0.25 per share. Management besides cited FAA-mandated formation reductions and upwind disruption arsenic factors that affected capableness and non-fuel portion costs during the quarter.