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Delta Air Lines DAL Q3 2025 earnings

Reported October 9, 2025 · Before market open

Revenue$16.7BBeat by $1.6B
EPS$1.71Beat by $0.14
Revenue estimate$15.1B
EPS estimate$1.57

Next report

Oct 9, 2026 (In 6 days)
Revenue estimate$17.6B
EPS estimate$1.88

Financials

Q3 2025

Income statement

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Revenue$16.7B+6.4%
Operating income$1.7B+20.5%
Net income$1.4B+11.4%
EPS (diluted)$2.17+10.2%

Balance sheet

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Cash & equivalents$4.0B-7.3%
Total debt$20.3B-12.9%
Total equity$18.8B+37.9%
Total assets$79.6B+5.6%

Cash flow

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Operating cash flow$1.8B+45.0%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$37.05B+13.8%
Enterprise value$53.36B+3.5%
P/E8×+1.0×
P/S0.6×0.0×

Profitability

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Operating margin9.7%+0.4pp
Net margin7.4%-0.4pp

Returns & leverage

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Return on equity28.5%-12.1pp
Debt / equity1.1×-0.6×
Current ratio0.4×0.0×

Segments

By product

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Refinery$1.5B+36.3%
Loyalty and related$847.0M+3.3%
Miscellaneous$355.0M+14.5%
MRO$256.0M+59.0%

By segment

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Airline$15.2B+4.1%
Refinery$1.8B-6.1%

FAQ

When did Delta Air Lines report Q3 2025 earnings?
Delta Air Lines (DAL) reported Q3 2025 earnings on October 9, 2025 before market open.
What were Delta Air Lines's Q3 2025 revenue and EPS?
Delta Air Lines reported revenue of $16.7B and eps of $1.71 for Q3 2025.
Did Delta Air Lines beat estimates in Q3 2025?
Revenue beat the consensus estimate of $15.1B by $1.6B. EPS beat the consensus estimate of $1.57 by $0.14.
How did Delta Air Lines's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.4% from $15.7B a year earlier and eps grew 14.0% from $1.50.
Where can I find Delta Air Lines's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000027904-25-000018) and the 10-Q periodic report (0000027904-25-000020) directly on SEC EDGAR. The filing index links above go to sec.gov.