Delta Air Strains right this moment reported monetary outcomes for the June quarter and offered its outlook for the September quarter and full 12 months 2025.
Delivered June quarter outcomes in keeping with April steerage, with continued energy in numerous income streams driving double-digit margins
Count on September quarter earnings per share of $1.25 to $1.75 with a 9 to 11 p.c working margin
Restoring full 12 months steerage with expectation for earnings per share of $5.25 to $6.25 and free money stream of $3 to $4 billion
Introduced a 25 p.c improve to dividend fee starting in September quarter
ATLANTA, July 10, 2025 /PRNewswire/ — Delta Air Strains (NYSE: DAL) right this moment reported monetary outcomes for the June quarter and offered its outlook for the September quarter and full 12 months 2025. Highlights of the June quarter, together with each GAAP and adjusted metrics, are on web page 5 and included right here.
“Within the June quarter, Delta delivered report income on a 13 p.c working margin, producing $1.8 billion in pre-tax revenue and main community friends throughout key operational metrics. This sturdy efficiency is a direct reflection of the excellent contributions of our folks, who proceed to set the bar for {industry} efficiency,” mentioned Ed Bastian, Delta’s chief govt officer.
“As we glance to the second half of our centennial 12 months, we stay centered on executing our strategic priorities and managing the levers inside our management to ship sturdy earnings and money stream. Reflecting our confidence within the enterprise, we’re restoring monetary steerage with an expectation for earnings per share of $5.25 to $6.25 and free money stream of $3 to $4 billion, in keeping with our long-term free money stream targets.”
June Quarter 2025 GAAP Monetary Outcomes
Working income of $16.6 billion
Working earnings of $2.1 billion with an working margin of 12.6 p.c
Pre-tax earnings of $2.6 billion with a pre-tax margin of 15.5 p.c
Earnings per share of $3.27
Working money stream of $1.9 billion
Funds on debt and finance lease obligations of $2.9 billion
Whole debt and finance lease obligations of $15.1 billion at quarter finish
June Quarter 2025 Non-GAAP Monetary Outcomes
Working income of $15.5 billion
Working earnings of $2.0 billion with an working margin of 13.2 p.c
Pre-tax earnings of $1.8 billion with a pre-tax margin of 11.6 p.c
Earnings per share of $2.10
Working money stream of $1.8 billion
Monetary Guidance1
Income Surroundings and Outlook
“Delta generated report June quarter income of $15.5 billion, roughly 1 p.c larger than prior 12 months. By way of the quarter, demand developments stabilized at ranges which might be flat to final 12 months and we continued to see resilience in our numerous, high-margin income streams. The staff did a fantastic job leveraging Delta’s structural benefits to optimize efficiency on this surroundings,” mentioned Glen Hauenstein, Delta’s president.
“For the September quarter, we anticipate whole income to be flat to up 4 p.c in comparison with the prior 12 months, with unit income developments anticipated to enhance by the second half of the 12 months as we proceed to regulate capability and the {industry} additional rationalizes provide.”
Document quarterly income: Delta’s whole income was a report $15.5 billion, roughly 1 p.c larger than the June quarter of 2024 on 4 p.c capability progress. Adjusted whole unit income (TRASM) was down 3 p.c in comparison with prior 12 months, in keeping with expectations.
Diversified income streams stay resilient: Numerous, excessive margin income streams contributed 59 p.c of whole income, underpinning Delta’s differentiated enterprise mannequin. Premium income continued to outpace primary cabin, rising 5 p.c on a year-over-year foundation. Loyalty income was up 8 p.c, pushed by co-brand spend progress and card acquisitions. American Categorical remuneration was $2 billion, up 10 p.c year-over-year. Cargo and MRO income grew 7 p.c and 29 p.c, respectively.
Worldwide carried out properly by peak summer season interval: Worldwide income grew 2 p.c throughout the quarter. Continued restoration of the Transpacific community supported by double-digit capability progress within the area drove report Pacific income, up 11 p.c in comparison with the second quarter of 2024. Sturdy demand for Transatlantic journey continued as Delta expanded service to European locations for the height summer season interval with income rising 2 p.c above report 2024 ranges.
Company demand surroundings stays regular: Company gross sales* within the June quarter have been up low-single digits over the prior 12 months, led by Home.
Price Efficiency and Outlook
“Price execution continues to be an vital focus throughout the enterprise. June quarter non-fuel unit price progress of two.7 p.c was much like the March quarter and in keeping with expectations,” mentioned Dan Janki, Delta’s chief monetary officer. “We anticipate the September quarter can be our greatest non-fuel unit price efficiency of the 12 months, with non-fuel unit prices flat to down in comparison with 2024. For the total 12 months, we stay on observe to ship non-fuel unit price progress within the low-single digits year-over-year, in keeping with our long-term goal.”
June Quarter 2025 Price Efficiency
Working expense of $14.5 billion and adjusted working expense of $13.5 billion
Adjusted non-fuel prices of $10.5 billion
Non-fuel CASM was 13.49¢, a rise of two.7 p.c year-over-year
Adjusted gasoline expense of $2.5 billion was down 11 p.c year-over-year
Adjusted gasoline value of $2.26 per gallon decreased 14 p.c year-over-year with a refinery lack of 1¢ per gallon
Steadiness Sheet, Money and Liquidity
“Throughout the first half of the 12 months, we generated free money stream of $2 billion, supporting our full 12 months expectation for $3 to $4 billion of free money stream,” Janki mentioned. “With sturdy money era, we’re well-positioned to ship on our capital allocation priorities as we reinvest within the enterprise, pay down $3 billion of debt this 12 months, and return money to shareholders, together with a 25 p.c improve to our quarterly dividend starting within the September quarter.”
Adjusted web debt of $16.3 billion at June quarter finish, a discount of $1.7 billion from the tip of 2024
Funds on debt and finance lease obligations for the June quarter of $2.9 billion
Weighted common rate of interest of 4.6 p.c with 95 p.c mounted price debt and 5 p.c variable price debt
Adjusted working money stream within the June quarter of $1.8 billion, and with gross capital expenditures of $1.2 billion, free money stream was $733 million
Air Site visitors Legal responsibility ended the quarter at $8.9 billion
Liquidity* of $6.4 billion at quarter-end, together with $3.1 billion in undrawn revolver capability
June Quarter 2025 Highlights
Operations, Community and Fleet
Acknowledged because the Greatest U.S. Airline by The Factors Man for the seventh consecutive 12 months based mostly on operational reliability, buyer expertise, price, attain and loyalty
Operated essentially the most on-time airline within the June quarter, main aggressive set in on-time departures and arrivals and community friends in completion factor1
Took supply of 10 plane throughout the June quarter, bringing the entire year-to-date to 19, together with the A350-900, A330-900, A321neo and A220-300
Retired 10 plane throughout the June quarter, bringing the entire to 14 retirements year-to-date
Introduced strengthened partnership with WestJet by a minority fairness stake, supporting future advantages for vacationers, together with an elevated, extra seamless journey expertise for patrons worldwide, topic to regulatory approvals and satisfaction of different customary closing circumstances
Introduced plans to construct international partnership with IndiGo, Air France-KLM and Virgin Atlantic, connecting India with Europe and North America sooner or later, topic to regulatory approvals
Expanded three way partnership with LATAM to Argentina, enhancing connectivity with the U.S. and Canada
Launched nonstop flights from SLC to Seoul-Incheon, opening a brand new gateway between the U.S. and Asia
Introduced nonstop service from SEA to Barcelona and Rome starting Could of 2026
Started working Delta’s most expansive Transatlantic schedule ever, together with new and elevated service to Barcelona, Sicily, Copenhagen, Dublin, Milan, Naples and extra European locations
Tradition and Folks
Accrued $470 million towards revenue sharing within the June quarter, leading to $594 million accrued year-to-date
Supplied a 4 p.c base pay improve for eligible workers worldwide, the fourth consecutive annual improve since 2022, reflecting Delta’s dedication to industry-leading pay for industry-leading efficiency
Named No. 3 within the Fortune ReturnOnLeadership® rating of the highest 100 corporations within the Fortune 500 based mostly on sturdy management, strategic alignment and clear imaginative and prescient for the long run, the highest-ranked airline
Acknowledged as one of many 50 most community-minded corporations within the U.S. for the eighth consecutive 12 months by Factors of Mild
Partnered with the Greatest Protection Basis for the Normandy Legacy Flight for the fourth 12 months, chartering over 20 WWII veterans to Normandy, France to commemorate the 81st anniversary of D-Day
Acknowledged because the No. 1 company blood drive sponsor with the American Pink Cross for the eighth consecutive 12 months with a report 16,178 items of blood collected at 386 blood drives within the final 12 months
Over 4,400 Delta volunteers accomplished 155 group service occasions and contributed over 8,600 hours of service throughout 8 nations throughout International Volunteer Month in April
Buyer Expertise and Loyalty
Ranked No. 1 in J.D. Energy’s Premium Financial system Satisfaction survey for the third consecutive 12 months
Awarded Greatest Airline Employees in North America for fourth consecutive 12 months on the Skytrax World Airline Awards
Launched Fly Delta app 7.0, enhancing the client expertise with real-time updates and seamless improve redemptions
Opened the Delta One Lounge in SEA with seating for over 200 clients, complementing the brand new Delta Sky Membership one stage beneath with the 2 areas totaling 24,000 sq. ft
Opened eighth and largest Delta Sky Membership in ATL positioned in Concourse D, with seating for over 500 friends
Empowering clients with selection by the announcement of latest product experiences tailor-made to particular person budgets and priorities on flights beginning October 1
Named Greatest International Airline for the Americas by the Airline Passenger Expertise Affiliation (APEX), additional strengthening Delta’s place as a worldwide chief in premium journey
Launched Uber partnership enabling SkyMiles members to earn miles on choose rides and deliveries; expanded to supply 6-12 months of complimentary Uber One for choose Delta American Categorical cardholders
Expanded partnership with Missoni to incorporate a Delta One bedding set and a refreshed amenity package
Continued the roll out of quick, free Wi-Fi for SkyMiles Members with 925 plane outfitted and 95 p.c of the mainline fleet anticipated to be outfitted by the tip of 2025
Environmental Sustainability
Issued the 2024 Delta Distinction Report, highlighting Delta’s continued dedication to a extra sustainable way forward for journey whereas investing in its folks and supporting native communities
Achieved 1 p.c gasoline burn financial savings from operational enhancements, equating to 45 million gallons2 of jet gasoline financial savings, as part of Delta’s decarbonization journey
June Quarter 2025 Outcomes
June quarter outcomes have been adjusted primarily for third-party refinery gross sales and beneficial properties/losses on investments as described within the reconciliations in Be aware A.
About Delta Air Strains By way of distinctive service and the ability of innovation, Delta Air Strains (NYSE: DAL) by no means stops on the lookout for methods to make each journey really feel tailor-made to each buyer.
There are 100,000 Delta folks main the best way to ship a world-class buyer expertise on as much as 5,000 peak day Delta and Delta Connection flights to greater than 290 locations on six continents, connecting folks to locations and to one another.
Delta served greater than 200 million clients in 2024 – safely, reliably and with industry-leading customer support innovation – and was acknowledged by J.D. Energy this 12 months for being No. 1 in First/Enterprise and Premium Financial system Passenger Satisfaction. The airline additionally was acknowledged as the highest U.S. airline by the Wall Avenue Journal and as North America’s most on-time airline in 2024 and our folks earned the Platinum Award for Operational Excellence from Cirium.
We stay dedicated to making sure that the way forward for journey is related, customized and pleasant. Our folks’s real, enduring motivation is to make each buyer really feel welcomed and cared for throughout each level of their journey with us.
Headquartered in Atlanta, Delta operates important hubs and key markets in Amsterdam, Atlanta, Bogota, Boston, Detroit, Lima, London-Heathrow, Los Angeles, Mexico Metropolis, Minneapolis-St. Paul, New York-JFK and LaGuardia, Paris-Charles de Gaulle, Salt Lake Metropolis, Santiago (Chile), Sao Paulo, Seattle, Seoul-Incheon and Tokyo.
Because the main international airline, Delta’s mission to attach the world creates alternatives, fosters understanding and expands horizons by connecting folks and communities to one another and to their very own potential.
A founding member of the SkyTeam alliance and powered by progressive and strategic partnerships all through the world with Aeromexico, Air France-KLM, China Jap, Korean Air, LATAM, Virgin Atlantic and WestJet, Delta brings extra selection and competitors to clients worldwide. Delta’s premium product line is elevated by its distinctive partnership with Wheels Up Expertise.
Delta is America’s most-awarded airline because of the dedication, ardour and professionalism of its folks. Along with the awards from J.D. Energy and Cirium, Delta has been acknowledged amongst Quick Firm’s Most Progressive Firms; the World’s Most Admired Airline and one of many Greatest 100 Firms to Work For in line with Fortune; one in all Glassdoor’s Greatest Locations to Work; the highest provider for enterprise vacationers by Enterprise Journey Information; and topped 5 classes, together with the Greatest U.S. Airline award, in Forbes Journey Information’s Verified Air Journey Awards. As well as, Delta has been named to the Civic 50 by Factors of Mild as one of the group minded corporations within the U.S. and one of the best U.S. airline by the Factors Man for the previous seven years.
