Delta Air Lines (DAL) reported third-quarter 2026 GAAP operating revenue of $20.2 billion, up 21% from a year earlier. GAAP net income was $756 million, down 47% year over year, while basic and diluted earnings per share were both $1.15.
The airline said September-quarter adjusted revenue was $17.6 billion, up 16% from the prior-year period. Delta expects approximately 20% total revenue growth in the December quarter and maintained full-year EPS guidance of $5.10 to $5.60.
- GAAP operating income was $1.5 billion, with a 7.2% operating margin.
- GAAP pre-tax income was $1.1 billion, compared with $1.8 billion a year earlier.
- Operating cash flow totaled $1.7 billion during the quarter.
- Delta generated $463 million of free cash flow in the September quarter.
- Fuel expense was $4.4 billion, up 69% from the prior-year quarter.
- The company plans to pay down more than $2 billion of debt during 2026.
$DAL Insider Trading Activity
$DAL insiders have traded $DAL stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $DAL stock by insiders over the last 6 months:
- EDWARD H BASTIAN (Chief Executive Officer) sold 206,510 shares for an estimated $19,163,301
- JOHN E LAUGHTER (EVP & Chief of Operations) has made 0 purchases and 2 sales selling 84,304 shares for an estimated $5,797,018.
- STEVEN M SEAR (EVP - Global Sales & Distrib) sold 40,460 shares for an estimated $3,785,154
- PETER W CARTER (President) sold 39,900 shares for an estimated $3,709,941
- ALAIN BELLEMARE (EVP & Pres. - International) sold 35,000 shares for an estimated $3,245,165
- DAVID G DEWALT sold 31,756 shares for an estimated $2,884,969
- MICHAEL P HUERTA sold 3,100 shares for an estimated $291,756
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$DAL Hedge Fund Activity
We have seen 775 institutional investors add shares of $DAL stock to their portfolio, and 582 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BERKSHIRE HATHAWAY INC added 17,510,544 shares (+44.0%) to their portfolio in Q2 2026, for an estimated $1,640,037,551
- JPMORGAN CHASE & CO added 6,729,036 shares (+inf%) to their portfolio in Q2 2026, for an estimated $630,241,511
- FMR LLC added 5,683,286 shares (+20.7%) to their portfolio in Q2 2026, for an estimated $532,296,566
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 4,010,551 shares (+inf%) to their portfolio in Q2 2026, for an estimated $375,628,206
- AMERIPRISE FINANCIAL INC removed 2,883,278 shares (-71.9%) from their portfolio in Q2 2026, for an estimated $270,047,817
- PACER ADVISORS, INC. added 2,866,739 shares (+inf%) to their portfolio in Q2 2026, for an estimated $268,498,774
- 1832 ASSET MANAGEMENT L.P. added 1,751,826 shares (+2219.0%) to their portfolio in Q2 2026, for an estimated $164,076,023
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
