Delta Air Lines is reducing flights and raising fees as it combats fuel shock. Here’s why the stock is up anyway

Airlines are facing higher fuel costs, but Delta reported earnings on a morning when Wall Street happen to be more optimistic about the Iran conflict.

[Source photo: Jeffry Surianto/Pexels]

Shares in Delta Air Lines, Inc. (NYSE: DAL) are on the rise this morning after the company reported its Q1 2026 results.

While Delta comfortably beat revenue expectations, the U.S. air carrier also addressed the biggest challenge it is currently facing, rising gas prices, and how it is working to mitigate that challenge. Here’s what you need to know.

Delta’s Q1 beats expectations, stock surges

On Wednesday, Delta Air Lines announced its Q1 2026 financial results, covering the January through March period. The results, announced before markets opened, showed the company had a strong quarter.

The company reported non-GAAP operating revenue of $14.2 billion and an earnings per share (EPS) of $0.64.

To put those numbers into greater perspective, Wall Street analysts were expecting Delta to post $14 billion in revenue and an EPS of $0.57, notes CNBC. In other words, Delta handily beat Wall Street expectations.

In a bit of fortuitous timing for Delta, the airline reported its latest earnings just hours after the U.S. and Iran agreed to a fragile two-week ceasefire, which will see the Strait of Hormuz, a critical oil shipping route, reopened.

That news sent the price of a barrel of oil plunging below the $100 mark for the first time in weeks.

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