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Jun 30, 2025
Delta Q2 2025 Earnings Report
Delta reported record revenue and strong operational metrics for Q2 2025.
Key Takeaways
Delta Air Lines delivered strong Q2 2025 results, posting record revenue and significant profitability, driven by premium products, loyalty program growth, and international demand. The company reinstated full-year guidance and announced a dividend increase.
Record adjusted revenue of $15.507 billion for the June quarter.
GAAP EPS came in at $3.27; non-GAAP EPS at $2.10.
Net income totaled $2.13 billion with operating income of $2.102 billion.
International and premium products drove revenue growth, while fuel prices declined.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Delta reinstated full-year guidance and expects solid Q3 results supported by strong revenue streams and cost discipline.
Positive Outlook
- EPS guidance of $1.25 to $1.75 for Q3 2025.
- Full-year EPS guidance of $5.25 to $6.25 reinstated.
- Free cash flow forecast of $3 to $4 billion for FY25.
- Dividend payment to increase by 25% in Q3.
- Improved non-fuel unit cost performance expected in Q3.
Challenges Ahead
- Non-fuel unit cost growth continues to pressure margins.
- TRASM remains down 3% YoY despite capacity increases.
- Domestic revenue saw a 1% decline.
- Premium revenue growth offset by main cabin decline.
- Operating margin declined from prior year despite strong income.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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