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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jamie Baker | JPMorgan | 16 questions · 6% challenging |
| Savi Syth | Raymond James | 15 questions · 0% challenging |
| Conor Cunningham | Melius Research | 15 questions · 20% challenging |
| Duane Pfennigwerth | Evercore ISI | 15 questions · 0% challenging |
| Andrew Didora | Bank of America | 15 questions · 13% challenging |
| Tom Fitzgerald | TD Cowen | 14 questions · 0% challenging |
| Catherine O'Brien | Goldman Sachs | 14 questions · 0% challenging |
| David Vernon | Bernstein | 13 questions · 15% challenging |
| Ravi Shanker | Morgan Stanley | 11 questions · 18% challenging |
| Mike Linenberg | Deutsche Bank | 11 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 analyst | 16 questions · 6% challenging |
| Evercore ISI | 1 analyst | 15 questions · 0% challenging |
| Melius Research | 1 analyst | 15 questions · 20% challenging |
| Bank of America | 1 analyst | 15 questions · 13% challenging |
| Raymond James | 1 analyst | 15 questions · 0% challenging |
| TD Cowen | 1 analyst | 14 questions · 0% challenging |
| Goldman Sachs | 1 analyst | 14 questions · 0% challenging |
| Deutsche Bank | 2 analysts | 13 questions · 0% challenging |
Delta reported Q1 record revenue of $14.2 billion, up 9.4% year-over-year, with adjusted earnings of $0.64 per share. Full-year guidance was effectively deferred due to Middle East conflict driving an unprecedented fuel price spike to $4.30 per gallon. Corporate demand set a record with double-digit growth across all sectors, and MRO revenue more than doubled to $380 million. Capacity was being reduced and the fuel recapture strategy activated, while adjusted net debt declined 20% year-over-year.
Demand | Competitive Dynamics | Pricing | Geographic Expansion | Cost Pressure | Margin | Revenue Growth | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 11 | 6 | 4 | 5 | 4 | 1 | 3 | 3 |
| 2025Q1 | 14 | 8 | 5 | 5 | 6 | 2 | 4 | |
| 2025Q2 | 13 | 5 | 3 | 4 | 2 | 3 | 2 | 1 |
| 2025Q3 | 14 | 8 | 6 | 6 | 2 | 7 | 5 | 1 |
| 2025Q4 | 7 | 10 | 4 | 4 | 1 | 2 | 2 | 2 |
| 2026Q1 | 9 | 5 | 8 | 5 | 7 | 1 | 1 | 1 |
| 2026Q2 | 4 | 2 | 3 | 2 | 2 | 2 | 4 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 11 | 14 | 13 | 14 | 7 | 9 | 4 |
| Competitive Dynamics | 6 | 8 | 5 | 8 | 10 | 5 | 2 |
| Pricing | 4 | 5 | 3 | 6 | 4 | 8 | 3 |
| Geographic Expansion | 5 | 5 | 4 | 6 | 4 | 5 | 2 |
| Cost Pressure | 4 | 6 | 2 | 2 | 1 | 7 | 2 |
| Margin | 1 | 2 | 3 | 7 | 2 | 1 | 2 |
| Revenue Growth | 3 | 2 | 5 | 2 | 1 | 4 | |
| Capex Investment | 3 | 4 | 1 | 1 | 2 | 1 | 2 |
What DAL said about other companies on its FY2026 Q1 call, and what other companies said about DAL on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Within the LEAP external network, Delta TechOps is now the first North American airline MRO provider licensed for both the LEAP-1A and LEAP-1B.”
Delta TechOps became the first North American airline MRO licensed for both LEAP-1A and LEAP-1B, expanding GE's external LEAP servicing network.
“Additionally, Delta committed to 60 GE9X engines with options for 60 more for its new 787 fleet, marking its first GE9X selection.”
Delta committed to 60 GE9X engines (plus 60 options) for its new 787 fleet, its first-ever GE9X selection.
“This model has gained traction across a number of our clients, including Clorox, Dyson, Delta, Exxon, Kroger, Merck and Unilever.”
Delta Air Lines is named as a client deepening its relationship with Omnicom.
“the latest of which was Delta Air Lines committing at least half of their fleet starting in 2028”
Delta committed at least half its fleet to Amazon Leo connectivity starting 2028, a Delta in-flight-connectivity signal.
“We're also expanding our partnership with Delta Air Lines so that travelers can earn Delta miles on qualifying Airbnb Experiences and Services in addition to homes.”
Airbnb is expanding its loyalty partnership with Delta so travelers earn Delta miles on Experiences and Services, deepening a distribution tie-up that benefits Delta's SkyMiles program.
“United has made -- the executives have made some comments about trying to catch up to Delta in terms of profit and including getting some more customers and more up-for-grab markets like L.A.”
A media questioner noted United is publicly targeting profit catch-up with Delta and pursuing more customers in contested markets like L.A.
“Remuneration from American Express grew 10% to over $2 billion, led by 12% spend growth on strong acquisitions.”
Delta's co-brand card remuneration from American Express grew 10% to over $2 billion on 12% spend growth, a positive signal for Amex co-brand economics.
“announcing a game-changing partnership with Amazon Leo, to bring the next generation of satellite connectivity to our aircraft”
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $15.56B | +9.4% | $1.29 | -59.2% | 11.0% | 5.4% | $584M |
| FY2025 Q1 | $14.04B | +2.1% | $0.37 | +516.7% | 4.1% | 1.7% | $1.15B |
| FY2025 Q2 | $16.65B | -0.1% | $3.27 | +62.7% | 12.6% | 12.8% | $648M |
| FY2025 Q3 | $16.67B | +6.4% | $2.17 | +10.2% | 10.1% | 8.5% | $687M |
| FY2025 Q4 | $16.00B | +2.9% | $1.86 | +44.2% | 9.2% | 7.6% | $1.35B |
| FY2026 Q1Selected | $15.85B | +12.9% | $-0.44 | -218.9% | 3.2% | -1.8% | $1.23B |
| FY2026 Q2 | $19.76B | +18.7% | $2.44 | -25.4% | 9.4% | 8.1% | — |
| FY2026 Q3 | $20.19B | +21.1% | $1.15 | -47.0% | 7.2% | 3.7% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Delta signed a partnership with Amazon's Leo satellite unit to provide next-generation onboard connectivity, a signal for Amazon's satellite/connectivity ambitions.
Calendar quarter Q1 2026Earnings call Apr 8, 2026
FY2026 Q1 in brief
Delta reported Q1 record revenue of $14.2 billion, up 9.4% year-over-year, with adjusted earnings of $0.64 per share.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
GAAP revenue YoY +12.9% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Delta Air Lines (DAL), FY2026 Q1: 6/10. Scores: Delta Air Lines’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: DAL daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| DALDelta Air Lines | 6 | +12.9% | Record Q1 Revenue Up Nearly 10% on Broad-Based Demand | |
| LUVSouthwest Airlines | 8 | +12.8% | Record Q1 Revenue with 8.1 Point Operating Margin Expansion | |
| UALUnited Airlines Holdings | 6 | +10.6% | Record Q1 revenue of $14.6B with TRASM up 6.9% despite fuel crisis |
Record Q1 Revenue Up Nearly 10% on Broad-Based Demand
Record Q1 Revenue with 8.1 Point Operating Margin Expansion
Record Q1 revenue of $14.6B with TRASM up 6.9% despite fuel crisis
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| DAL | 9 | 1 | 4 | 9 | 5 | 6 |
| LUV | 6 | 4 | 1 | 4 | 8 | 8 |
| UAL | 8 | 7 | 2 | 4 | 7 | 6 |