
Delta's Q2 beats as premium demand offsets fuel headwinds, reinstates full-year guidance
Delta Air Lines topped expectations with Q2 adjusted revenue of $17.67 billion (a company record) and adjusted EPS of $1.56, while absorbing a $4.4 billion fuel expense. The airline reinstated its full-year 2026 guidance (adjusted EPS $6.50-$7.50; free cash flow $3-$4 billion) and expects Q3 revenue growth in the upper teens with margins of 11%-13% and EPS of $2.00-$2.50, supported by strong premium demand, loyalty revenue up 19%, and premium corporate sales up about 25%.
