ATLANTA (dpa-AFX) - Delta Air Lines, Inc. (DAL) reported Friday a profit for the second quarter that declined from last year, dragged by higher fuel costs, even as revenues grew 19 percent on broad demand strength and strong execution. The company said it delivered results above it guidance for the quarter. The company also affirmed its r=earnings guidance for the full-year 2026.
'Today, we reported our June quarter results, and it is clear that Delta's brand and industry position are stronger than ever. We delivered $1.4 billion in pre-tax profit while absorbing the highest quarterly fuel expense in our history, reflecting broad demand strength, growing brand preference and momentum across our diversified revenue base,' said Ed Bastian, Delta's chief executive officer.
For the second quarter, the company reported net income of $1.60 billion or $2.44 per share, down from $2.13 billion or $3.27 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $1.56 per share, compared to $2.12 per share in the year ago quarter.
Operating income declined 11 percent year-over-year to $1.86 billion, while adjusted operating income grew 12 percent to $652 million. Adjusted operating margin contracted to 9.4 percent from 12.6 percent a year ago.
Total operating expense for the quarter climbed 23 percent from last year to $17.89 billion.
Total operating revenue for the quarter grew 19 percent to $19.76 billion from $16.65 billion in the same quarter last year. Adjusted operating revenue was $17.67 billion, a growth of 13.9 percent from last year.
Passenger revenue increased 13 percent year-over-year to $15.61 billion, mainly on 17 percent rise in Ticket - Premium products and 14 percent increase in loyalty travel awards. Cargo revenues increased 39 percent year-over-year to $294 million.
Revenue passenger miles grew 1 percent to 66.77 billion, and available seat miles increased 1 percent to 78.69 billion from last year.
Passenger revenue per available seat mile rose 11 percent, and total revenue per available seat mile grew 17 percent. Passenger load factor was 84.8 percent, down from 85.5 percent a year ago.
'Delta is executing from a position of strength, and we expect momentum to carry into the second half with double-digit margins and a return to earnings growth,' added Bastian.
Looking ahead to the third quarter, the company expects earnings in a range of $2.00 to $2.50 per share on revenue growth in the mid-teen percentage from last year.
For fiscal 2026, the company affirmed is adjusted earnings guidance in the range of $6.50 to $7.50 per share.
In Friday's pre-market trading, DAL is trading on the NYSE at $87.77, down 1.20 or 1.35 percent.
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