JetBlue Airways Corporation (NASDAQ:JBLU) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET Company Participants Koosh Patel - Director, IR Joanna Geraghty - CEO Marty St. George - President Ursula Hurley - CFO Conference Call Participants Dan McKenzie - Seaport Global Mike Linenberg - Deutsche Bank Jamie Baker - JPMorgan Savi Syth - Raymond James Duane Pfennigwerth - Evercore ISI Conor Cunningham - Melius Research Scott Group - Wolfe Research Brandon Oglenski - Barclays Andrew Didora - Bank of Ame ...

Key TakeawaysJetBlue reported a surprise second-quarter profit as the airline cut back on unprofitable routes.The company also delayed delivery of 44 new Airbus planes.JetBlue shares took off on the news, recently rising roughly 17%. JetBlue Airways (JBLU) shares soared Tuesday after the carrier posted an unexpected profit as it cut some unprofitable routes and said it would delay jet purchases. The company reported second-quarter earnings per share (EPS) of $0.07, when the average of analysts surveyed by V ...

The carrier's Q2 results pleasantly surprised everyone -- including management.Shares of JetBlue (JBLU 17.37%) were soaring Tuesday, up by 17% as of 1 p.m. ET after the discount airline landed a surprise profit in the middle of Wall Street before the opening bell.Heading into the quarterly report, the consensus view among analysts was that the airline would lose $0.11 per share on $2.4 billion in revenue in Q2. They were right about the revenues -- but instead of losing money, JetBlue delivered an $0.08 per ...

ToplineShares of JetBlue saw their biggest daily percentage gain since February on Tuesday, soaring as much as 20% as the airline posted a better-than-expected quarterly revenue, returning company shares to a three-month high.JetBlue said it will eliminate 50 underperforming routes and boost coverage in the Northeast, ... [+] Florida and Puerto Rico.Getty Images Key FactsShares of JetBlue, the fifth-largest airline in the country, ascended to over $7 per share as of 11:30 a.m. Tuesday morning, up about 18%, ...

A JetBlue Airways jet comes in for a landing after flights earlier were grounded during an FAA system outage at Laguardia Airport in New York City, New York, U.S., January 11, 2023.JetBlue Airways shares jumped 20% on Tuesday after the airline posted a surprise profit and said it would defer another $3 billion in aircraft spending through 2029 to improve cash flow.The New York-based airline has been cutting unprofitable routes and reducing costs to get back to profitability as it faces higher expenses and a ...

2Q24 Earnings Presentation July 30, 2024 1 2 Safe Harbor 2 2 This Presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts ...

JetBlue Airways (JBLU) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of a loss of $0.13 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 161.54%. A quarter ago, it was expected that this airline would post a loss of $0.53 per share when it actually produced a loss of $0.43, delivering a surprise of 18.87%.Over the last four quarters, the c ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to__________ Commission File Number: 000-49728 etBlue JETBLUE AIRWAYS CORPORATION (Exact name of registrant as specified in its charter) Dela ...

Financial Performance - JetBlue reported a net income of $25 million or $0.07 earnings per share for Q2 2024, with adjusted net income of $26 million or $0.08 earnings per share[5]. - Net income dropped by 81.9% to $25 million for the three months ended June 30, 2024, compared to $138 million for the same period in 2023[18]. - Basic earnings per share for Q2 2024 was $0.07, compared to $0.41 in Q2 2023, reflecting a significant decline[36]. - Six-month earnings per share for 2024 showed a loss of $(2.02), compared to a loss of $(0.16) in the same period of 2023[36]. - The company experienced a significant decline in earnings per share over the six-month period, indicating potential challenges ahead[36]. - Overall, the financial results indicate a need for strategic reassessment to improve future performance[36]. Revenue and Expenses - Operating revenue for Q2 2024 was $2.4 billion, a decrease of 6.9% year-over-year, while operating expenses remained at $2.4 billion, down 0.1% year-over-year[5]. - Total operating revenues decreased by 6.9% to $2.428 billion for the three months ended June 30, 2024, compared to $2.610 billion for the same period in 2023[18]. - Passenger revenues fell by 7.9% to $2.265 billion for the three months ended June 30, 2024, compared to $2.460 billion for the same period in 2023[18]. - Operating income decreased by 75.9% to $57 million for the three months ended June 30, 2024, compared to $235 million for the same period in 2023[18]. - Total operating expenses for the three months ended June 30, 2024, were $2,371 million, a slight decrease of 0.1% compared to $2,375 million in the same period of 2023[27]. - Operating expenses excluding fuel for the same period were $1,729 million, reflecting a 1.0% increase from $1,714 million in 2023[27]. - For the six months ended June 30, 2024, total operating expenses increased by 7.2% to $5,300 million from $4,944 million in 2023[28]. - Operating expenses excluding fuel for the six months ended June 30, 2024, were $3,454 million, up 2.5% from $3,369 million in 2023[28]. Operational Metrics - JetBlue's completion factor improved to 98.8% in Q2 2024, up from 97.8% in Q2 2023, indicating enhanced operational performance[6]. - Revenue passenger miles (RPMs) decreased by 4.1% to 14,192 million for the three months ended June 30, 2024, compared to 14,798 million for the same period in 2023[21]. - Load factor decreased to 84.0% for the three months ended June 30, 2024, down from 85.3% for the same period in 2023[21]. - The average number of operating aircraft during the period was 285, a slight increase of 1.2% compared to 282 in the same period last year[21]. Cost Management - The company has executed structural cost program savings of approximately $145 million to date, contributing to its cost management efforts[6]. - The average fuel price in Q2 2024 was $2.87 per gallon, impacting overall operating costs[5]. - Average fuel cost per gallon increased by 5.1% to $2.87 for the three months ended June 30, 2024, compared to $2.73 for the same period in 2023[21]. - JetBlue anticipates maintaining its CASM-ex Fuel guidance for the full year in the range of 6.5% to 8.5% despite facing unit cost headwinds[10]. Strategic Initiatives - The company aims to achieve $800 million to $900 million of incremental EBIT from 2025 to 2027 through its JetForward strategy[4]. - JetBlue plans to defer approximately $3.0 billion in capital expenditures through 2029 to restore balance sheet health and improve cash flow[3]. - JetBlue is focusing on enhancing its leisure network, particularly in New York, New England, and Florida, with new routes announced to meet customer needs[2]. Special Items and Adjustments - Special items for the three months ended June 30, 2024, included voluntary opt-out costs, while for the six months, they included Spirit-related costs and Embraer E190 fleet transition costs[29]. - The company reported a pre-tax loss of $736 million for the six months ended June 30, 2024, compared to a pre-tax income of $216 million in 2023[33]. - The company experienced a 97.3% decrease in special items for the three months ended June 30, 2024, with only $1 million reported compared to $24 million in 2023[27]. - Special items added back to earnings for Q2 2024 amounted to $0.07, while for the six months it was $1.64[36]. - Income tax benefit related to special items for Q2 2024 was $0.02, consistent with the previous year[36].