Delta Posts Strong Q3, Raises Full-Year Outlook on Premium Travel

Delta Air Lines reported stronger-than-expected third-quarter results on Thursday, saying adjusted earnings per share were $1.71 and that revenue rose year over year, a performance the Atlanta-based carrier attributed to growth in premium and corporate travel. The company raised its full-year profit outlook and said it expects a solid finish to 2025, prompting the stock to jump more than 6 percent in early trading and become one of the S&P 500’s top performers that day.

Delta said corporate sales were up about 8 percent from a year earlier and that premium revenue increased roughly 9 percent, trends the airline and analysts credited with underpinning the quarterly gains. Management reported record third-quarter revenue and reaffirmed guidance for roughly $3.54 billion in free cash flow, toward the upper end of its prior range. For the fourth quarter Delta projected adjusted EPS of $1.60 to $1.90 and raised its full-year EPS outlook to approximately $6.00, above the midpoint of earlier expectations.

The results reflected a combination of stable unit costs and lower fuel expenses. The company reported that nonfuel unit costs were essentially flat and that fuel prices declined...