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Here's What Key Metrics Tell Us About Delta (DAL) Q4 Earnings

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For the quarter ended December 2025, Delta Air Lines (DAL - Free Report) reported revenue of $16 billion, up 2.9% over the same period last year. EPS came in at $1.55, compared to $1.85 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $15.63 billion, representing a surprise of +2.41%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.53.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Delta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Passenger Load Factor: 82% versus the five-analyst average estimate of 84.2%.
  • Revenue passenger miles: 59.86 billion versus 62.14 billion estimated by four analysts on average.
  • Cost per Available Seat Mile (CASM) - Ex: 14.27 cents versus the four-analyst average estimate of 14.17 cents.
  • Average price per fuel gallon, adjusted: $2.28 versus $2.35 estimated by four analysts on average.
  • Available seat miles: 72.95 billion compared to the 73.41 billion average estimate based on four analysts.
  • TRASM, adjusted: 20.02 cents versus the four-analyst average estimate of 20.05 cents.
  • Passenger Revenue Per Available Seat Mile: 17.71 cents compared to the 17.89 cents average estimate based on four analysts.
  • Total revenue per available seat mile (TRASM): 21.94 cents compared to the 21.23 cents average estimate based on three analysts.
  • Passenger Mile Yield: 21.58 cents compared to the 21.11 cents average estimate based on three analysts.
  • Operating Revenues- Passenger: $12.92 billion compared to the $13.07 billion average estimate based on five analysts. The reported number represents a change of +0.8% year over year.
  • Operating Revenues- Cargo: $246 million versus $230.9 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
  • Operating Revenues- Other: $2.84 billion versus $2.56 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +13.9% change.

View all Key Company Metrics for Delta here>>>

Shares of Delta have returned -0.3% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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