Company Dossier · Industrials
Delta Air Lines
- S&P 500
- Russell 1000
What Delta Air Lines is doing, read from its filings, its own words and the news, with every figure dated and sourced. Not investment advice: no ratings, no price targets.
Open the full company record in Palanor: guidance, KPIs, ownership, calls, prices →
The latest read
Computed from the data on Oct 22, 2026. Every figure links back to its source in the sections below.
- Revenue over the four quarters to September 30, 2026: $71.8 billion, up 14% from a year earlier.SEC EDGAR filings (XBRL)
- Free cash flow (operating cash flow minus capital expenditure) over the four quarters to March 31, 2026: $3.92 billion, up 39% from a year earlier.SEC EDGAR filings (XBRL)
- Capital expenditure over the four quarters to March 31, 2026: $4.48 billion, down 13% from a year earlier.SEC EDGAR filings (XBRL)
- Long-term debt issued in the fiscal year to December 31, 2025: $2.22 billion.SEC EDGAR filings (10-K)
- Latest earnings call or results release (October 9, 2026): sentiment 0.60 on a −1 to +1 scale (mixed), confidence 0.80 of 1.Palanor Discourse
- Guidance in the last 90 days: 1 outlook figure raised, 1 lowered, 0 held.Guidance Ledger (8-K results releases)
- Latest annual report (filed February 11, 2026): 0 risk factors added, 0 removed.Risk Factor Changes (10-K Item 1A)
- Insiders were net sellers in Q3 2026: $33.1 million on the open market.SEC Form 4
- 1,523 institutional managers reported a position at June 30, 2026 (+180 on the quarter before).SEC Form 13F
- H-1B filings certified in Q2 2026: 18 (54 a year earlier).U.S. Department of Labor (OFLC)
- Headlines in the last 30 days: 5, of which 0 read positive and 1 negative.Palanor headline tone
Risk events (12 months): 4 — latest OSHA inspection, Jun 26, 2026 →
Company Posture
How Company Posture is measured →What Delta Air Lines is doing, on three axes, from its filings and its own words, as of 2026-10-22. A description, not a rating: Company Posture never says whether to buy.
Expanding ↔ Retrenching
Withheld: 50% of the evidence is readable at this date (needs 60%).
- Capital spending—
- Debt raised—
- Buybacks vs capex—
- Hiring filings22nd pct
- Deals and private raises48th pct
- Patent publications5th pct
Confident ↔ Hedging
Mixed
- Call sentiment45th pct
- Call confidence55th pct
- Guidance changes31st pct
- Risk factors added61st pct
- Insider open-market trades36th pct
Pressure
Components only: Not yet shown as a score: in the back-test it did not add to a naive reader's forecast of impairment, debt acceleration or bankruptcy filings (8-K 2.06, 2.04, 1.03) (not enough events (17 in half 1; needs 20)).
- Fails-to-deliver15th pct
- Stress filings50th pct
Credit
How these are built →Delta Air Lines's borrowing from its SEC filings: the bonds it priced and the debt on its latest balance sheet. A description, not a rating.
Debt on the balance sheet
$12.4B
- Due within a year $3.3B
- Longer term $9.1B
- Default point $7.9B (short + ½ long)
Finance leases included · Sep 30, 2026 filing
Bonds priced, last 12 months
None
U.S. dollar tranches with a term sheet on EDGAR. Deals sold under Rule 144A file none and are not counted.
| Priced | Amount | Coupon | Matures | Spread | Yield |
|---|---|---|---|---|---|
| Jun 5, 2025 | $1B | 4.950% | 2028 (3y) | +105bp | 4.953% |
| Jun 5, 2025 | $1B | 5.250% | 2030 (5y) | +130bp | 5.295% |
From the pricing term sheets Delta Air Lines filed with the SEC. Spread is to the benchmark Treasury (or Bund, Gilt) at pricing.
Charts
Live charts: each one redraws from today’s data and has an image link to paste into a document or slide.
Cash flow
Capital returned and raised
What the company says
Hiring and ownership
In the news
Headlines that name Delta Air Lines, with the publisher and a link. The tone is read from each headline’s own words, never from a summary of the article.
- NeutralDelta expects $5.10-$5.60 EPS and ~$2.5B free cash flow for 2026 amid projected $4.25 fuel (NYSE:DAL)
seekingalpha.com · via Marketaux · Oct 9, 2026
- NegativeDelta Air Lines cuts 2026 earnings forecast, Q3 profit misses analyst estimates, shares dip 1.72%
livemint.com · via Marketaux · Oct 9, 2026
- NeutralDelta Air Lines in charts: Non-fuel CASM ticks up as fuel costs surge (DAL:NYSE)
seekingalpha.com · via Marketaux · Oct 9, 2026
- NeutralDelta Air Lines cuts 2026 forecast on fuel surge, but CEO says demand is still strong
cnbc.com · via Marketaux · Oct 9, 2026
- NeutralDelta Air Lines Non-GAAP EPS of $1.72 misses by $0.04, revenue of $20.2B beats by $1.28B (DAL:NYSE)
seekingalpha.com · via Marketaux · Oct 9, 2026
Filings and records
The last two years of notable 8-Ks, offerings, annual reports, federal awards, lobbying reports, patents and other public records, newest first.
- Oct 21, 2026LobbyingLobbying report (ROWLAND STRATEGY GROUP LLC)third_quarter 2026
- Oct 20, 2026LobbyingLobbying report (THEGROUP DC, LLC)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (AVOQ, LLC)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (THOLOS GOVERNMENT RELATIONS)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (MILLER STRATEGIES, LLC)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (DELTA AIR LINES, INC.)third_quarter 2026 · $1.4 million
- Oct 20, 2026LobbyingLobbying report (SIGHTLINE ADVOCACY, LLC)third_quarter 2026 · $0.0 million
- Oct 20, 2026LobbyingLobbying report (TEAM HALLAHAN LLC)third_quarter 2026 · $0.1 million
- Oct 6, 2026Patent
- Sep 29, 2026Patent
- Aug 4, 2026Patent
- Jun 26, 2026Risk event
- Jun 22, 20268-KShareholder vote resultsItem 5.07
- Jun 12, 20268-KMaterial agreement signedItem 1.01
- May 8, 2026Risk event
- Mar 5, 20268-KDirector or officer changeItem 5.02
- Feb 13, 20268-KDirector or officer changeItem 5.02
- Feb 11, 202610-KAnnual report (10-K)0 risk factors added, 0 removed
- Jan 27, 20268-KMaterial agreement signedItem 1.01
- Jan 13, 20268-KMaterial agreement signedItem 1.01
- Dec 29, 2025Risk event
- Dec 17, 20258-KDirector or officer changeItem 5.02
- Dec 15, 2025Risk event
- Sep 30, 20258-KMaterial agreement signedItem 1.01
- Aug 28, 2025Risk event
- Aug 19, 2025Patent
- Jun 20, 20258-KDirector or officer changeItem 5.02
- Jun 20, 20258-KShareholder vote resultsItem 5.07
- Jun 10, 20258-KMaterial agreement signedItem 1.01
- May 29, 2025Risk event
- Apr 25, 20258-KDirector or officer changeItem 5.02
- Apr 24, 2025Trademark
- Mar 6, 2025Risk event
- Mar 4, 2025Trademark
- Feb 11, 202510-KAnnual report (10-K)0 risk factors added, 0 removed
- Jan 31, 2025Trademark
- Jan 27, 2025Risk event
- Jan 15, 20258-KDirector or officer changeItem 5.02
- Jan 10, 2025Risk event
- Dec 31, 2024Risk event
Peers
Companies in the same industry in the S&P 500, Russell 1000 or MidCap 400, closest in revenue first. Trailing twelve months, from SEC filings.
| Company | Revenue | Free cash flow | Through |
|---|---|---|---|
| United Airlines Holdings UAL | $62.9B | $2.5B | Jun 30, 2026 |
| American Airlines Group AAL | $58.3B | $0.3B | Jun 30, 2026 |
| Southwest Airlines LUV | $30.1B | −$0.4B | Jun 30, 2026 |
| Alaska Air Group ALK | $14.8B | — | Jun 30, 2026 |
| Caterpillar Inc. CAT | $74.7B | $10.7B | Jun 30, 2026 |
| Lockheed Martin LMT | $77.0B | $8.7B | Jun 28, 2026 |
| United Parcel Service UPS | $89.9B | $5.5B | Jun 30, 2026 |
| Uber Technologies UBER | $55.2B | $10.1B | Jun 30, 2026 |