Delta Air Lines (NYSE:DAL) is expected to provide an update on how the government shutdown is impacting the airline sector when the company reports its third-quarter financial results on Thursday before the market opens.
Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.
Earnings Estimates: Analysts expect Delta Air Lines to report third-quarter revenue of $15.04 billion, down from $15.68 billion in last year’s third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in more than 10 straight quarters.
Analysts expect the company to report third-quarter earnings per share of $1.52, up from $1.50 in last year’s third quarter.
Delta has beaten analyst estimates for earnings per share in three straight quarters and in seven of the last 10 quarters overall.
Guidance from the company calls for revenue to be up 0% to 4% year-over-year and earnings per share to be in a range of $1.25 to $1.75.
Read Also: How To Earn $500 A Month From Delta Air Lines Stock Ahead Of Q3 Earnings
What Experts Are Saying: Recent earnings reports have been favorable for Delta Air Lines stock, according to Freedom Capital Markets Chief Market Strategist Jay Woods.
“Delta earnings reactions have been stellar in 2025, but the stock keeps stalling and descending after results,” Woods said in a weekly newsletter.
The market expert noted that Delta’s recent quarters have yielded strong results and raised outlooks, but the stock has declined due to concerns about its main cabin economy business.
“In January, the stock snapped an eight-quarter losing streak as shares jumped 9% following its earnings report. They experienced even larger gains over the next two quarters. In April, shares rose 23.4% and last quarter the stock jumped another 12%.”
Woods said another earnings surprise and confident guidance would be “the ingredients to break out and climb higher.”
Here are recent analyst ratings for Delta Air Lines and their price targets:
- Susquehanna: Maintained a Positive rating, raised price target from $65 to $68
- Jefferies: Upgraded from Hold to Buy, with a price target of $70
- Evercore ISI Group: Maintained Outperform rating, raised price target from $70 to $75
Key Items to Watch: Delta Air Lines’ quarterly report comes amid a government shutdown. While airlines are still operating, there will be no hiring and training of new federal aviation employees, like air traffic controllers and TSA agents.
With some employees not receiving pay during the government shutdown, airlines and airports have warned of potential backups and delays. The company could provide an update on this and any related financial impact for the current quarter.
Delta’s report also comes shortly after two regional jets collided while taxiing at LaGuardia Airport in New York. The incident, which left one flight attendant injured, could be a topic of discussion among analysts regarding safety and recent events.
The company’s second-quarter results saw strength in premium cabin and loyalty revenue, which could be areas that investors and analysts focus on during the results. These higher margin segments could help the company’s overall earnings.
Delta restored its full-year guidance for earnings per share in a range of $5.25 to $6.25 and free cash flow in a range of $3 billion to $4 billion, following its second-quarter results.
The company maintaining, lowering or raising its guidance along with comments about demand, margins and the shutdown could also be the keys to where shares trade on Thursday.
DAL Price Action: Delta stock is up 1.1% to $57.25 on Wednesday, versus a 52-week trading range of $34.74 to $69.98. Delta stock is down 3.1% year-to-date in 2025.
Read Next:
Photo: Shutterstock
