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Delta Air Lines DAL Q2 2025 earnings

Reported July 10, 2025 · Before market open

Revenue$16.6BBeat by $1.2BDiluted EPS$2.10Beat by $0.04
Revenue estimate$15.5B
EPS estimate$2.06

Next report

Jul 10, 2026 (Tomorrow)
Revenue estimate$17.5B
EPS estimate$1.49

Financials

Q2 2025

Income statement

See full
Revenue$16.6B-0.1%
Operating income$2.1B-7.3%
Net income$2.1B+63.2%
EPS (diluted)$3.27+62.7%

Balance sheet

See full
Cash & equivalents$3.5B-21.7%
Total debt$20.6B-12.7%
Total equity$17.4B+40.8%
Total assets$78.4B+4.3%

Cash flow

See full
Operating cash flow$1.9B-24.2%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$32.36B+6.6%
Enterprise value$49.44B-0.1%
P/E7.2×+0.4×
P/S0.5×0.0×

Profitability

See full
Operating margin9.3%-0.9pp
Net margin7.2%-0.2pp

Returns & leverage

See full
Return on equity30.1%-13.7pp
Debt / equity1.2×-0.7×
Current ratio0.4×0.0×

Segments

By product

See full
Refinery$1.1B-8.8%
Loyalty and related$855.0M+2.3%
Miscellaneous$309.0M-2.8%
MRO$264.0M+23.9%

By segment

See full
Airline$15.5B+0.6%
Refinery$1.7B-16.1%

Versus estimates

Revenue

Q1 2026$14.2BBeat by $151.3MQ4 2025$14.6BMiss by $76.1MQ3 2025$16.7BBeat by $1.6B
Q2 2025$16.6BBeat by $1.2B
Q1 2025$14.0BBeat by $1.1BQ4 2024$15.6BBeat by $1.4B

Diluted EPS

Q1 2026$0.64Beat by $0.06Q4 2025$1.55Beat by $0.02Q3 2025$1.71Beat by $0.14
Q2 2025$2.10Beat by $0.04
Q1 2025$0.46Beat by $0.08Q4 2024$1.85Beat by $0.11

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Questions, answered.

When did Delta Air Lines report Q2 2025 earnings?
Delta Air Lines (DAL) reported Q2 2025 earnings on July 10, 2025 before market open.
What were Delta Air Lines's Q2 2025 revenue and EPS?
Delta Air Lines reported revenue of $16.6B and diluted EPS of $2.10 for Q2 2025.
Did Delta Air Lines beat estimates in Q2 2025?
Revenue beat the consensus estimate of $15.5B by $1.2B. EPS beat the consensus estimate of $2.06 by $0.04.
How did Delta Air Lines's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.1% from $16.7B a year earlier and diluted EPS declined 11.0% from $2.36.
Where can I find Delta Air Lines's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0000027904-25-000012) directly on SEC EDGAR. The filing index links above go to sec.gov.