Overview
- Delta reported 2025 pre-tax profit of $5 billion and record free cash flow of $4.6 billion, with Q4 adjusted EPS of $1.55 beating estimates as adjusted revenue of $14.61 billion ran slightly short.
- Management forecast 2026 adjusted EPS of $6.50 to $7.50 and free cash flow of $3 billion to $4 billion, and guided Q1 revenue growth of 5%–7% with EPS of $0.50–$0.90.
- Virtually all planned seat growth will be in premium cabins, and in Q4 premium ticket revenue rose 9% to nearly $5.7 billion, surpassing main cabin revenue, which fell 7% to $5.62 billion.
- Delta agreed to purchase 30 Boeing 787‑10s with options for 30 more, with deliveries starting in 2031, a move executives said diversifies the long‑haul fleet.
- Executives pointed to uneven international recovery, notably in Canada and China, and said 2025 results were dented by a government shutdown and tariffs, as loyalty revenue—particularly from American Express, up about 11% to roughly $8.2–$8.4 billion—remained a key profit driver.