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Delta Air Lines’ $1.5 Billion Quarterly Profit — Despite a $1.6 Billion Fuel Hit!

Delta Air Lines reported a 16% revenue increase in the September quarter of 2026, maintaining pretax profits of $1.5 billion despite absorbing an additional $1.6 billion in fuel costs. Earnings per share reached $1.72 with a 9.4% operating margin. The company generated $1.9 billion in free cash flow year-to-date and exhibited a return on invested capital (ROIC) of 11%, significantly exceeding its cost of capital. Delta’s financial durability was highlighted by its ability to sustain profitability amid substantial fuel cost inflation, with projected full-year pretax profits around $4.5 billion and free cash flow of $2.5 billion. The firm anticipates reducing debt by over $2 billion in 2026, targeting a gross leverage ratio of 2.2x. Operationally, Delta maintained industry-leading on-time performance and customer satisfaction despite elevated weather-related disruptions, with improvements expected to continue into 2027.