Key TakeawaysJetBlue Airways on Wednesday revised its outlook for current-quarter and full-year revenue upward and said it benefited from higher demand after the U.S. presidential election last month.The carrier said its bookings in November and December immediately after the vote were higher than it expected.JetBlue also had a better-than-expected Thanksgiving week performance, and the air carrier reported that December bookings were greater than anticipated, too. Shares of JetBlue Airways (JBLU) soared We ...

Core Insights - JetBlue Airways reported a narrower loss of 16 cents per share for Q3 2024, compared to a loss of 39 cents in the same quarter last year, and better than the Zacks Consensus Estimate of a loss of 26 cents [2][3] - Operating revenues reached $2.36 billion, exceeding the Zacks Consensus Estimate of $2.34 billion, with a year-over-year increase of 0.5% [3] - The company anticipates a decline in capacity for Q4 2024 in the range of 4-7% and expects total revenues to decrease by 3-7% [8][9] Financial Performance - Passenger revenues, which constitute 92.9% of total revenues, fell by 0.1% to $2.19 billion, while other revenues increased by 9.8% year over year to $167 million [3] - Revenue per available seat mile (RASM) grew by 4.3% year over year to 14.13 cents, and passenger revenue per available seat mile increased by 3.6% to 13.13 cents [4] - Total operating costs decreased by 4.2% year over year to $2.40 billion, with aircraft fuel expenses declining by 16.8% [6] Cost and Capacity Outlook - The average fuel price per gallon was reported at $2.67, down 12.2% year over year, which was below the company's guidance range [6] - For 2024, capacity is expected to decline in the range of 2.5-4.5%, with CASM (excluding fuel and special items) projected to rise by 7% [9] - Capital expenditures for 2024 are estimated to be approximately $1.6 billion [10] Market Position and Estimates - JetBlue's stock has seen a 5.9% increase over the past month, outperforming the S&P 500 [1] - The consensus estimate for JetBlue has shifted downward by 24.05% recently, indicating a negative trend in estimates [11][12] - The company holds a Zacks Rank of 3 (Hold), suggesting an expectation of an in-line return in the coming months [14] Industry Comparison - JetBlue operates within the Zacks Transportation - Airline industry, where competitor Southwest Airlines reported revenues of $6.87 billion, reflecting a year-over-year increase of 5.3% [15] - Southwest Airlines is projected to post earnings of $0.39 per share for the current quarter, with a Zacks Rank of 2 (Buy) [16]

Core Viewpoint - JetBlue Airways has experienced significant stock volatility recently, with a notable decline of almost 13% in value due to negative analyst ratings from Goldman Sachs [2][3]. Group 1: Analyst Coverage and Ratings - Goldman Sachs has relaunched its coverage of U.S. airline stocks, assigning buy ratings to three airlines while placing sell ratings on JetBlue and Southwest Airlines, with a price target of $5.50 per share for JetBlue [3]. Group 2: Industry Challenges - The airline industry is facing challenges such as supply chain issues and increased maintenance requirements, despite a generally positive outlook for the travel and tourism sector [4]. Group 3: JetBlue's Position and Performance - JetBlue is seen as well-positioned to benefit from rising premium demand, but it faces challenges like air traffic control staff shortages at its primary hub, JFK Airport in New York [5]. - Recent fundamentals for JetBlue have not been strong, as the airline reported a loss despite beating consensus analyst estimates, and it anticipates a challenging fourth quarter ahead [6].

The potential bankruptcy of a rival lifted shares on the prospects of less competition.Shares of JetBlue (JBLU 8.54%) rallied on Wednesday, up 12.4% as of 2 p.m. ET.The airline appears to be benefiting from news that a big rival, which JetBlue actually tried to acquire last year, may go bankrupt. A bankruptcy of a key competitor has the potential to benefit other airlines, especially smaller ones like JetBlue.Spirit preparing to file for bankruptcyToday, The Wall Street Journal reported that rival low-cost ...

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JetBlue Airways Corporation (NASDAQ:JBLU) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET Company Participants Koosh Patel - Director, Investor Relations Joanna Geraghty - Chief Executive Officer Marty St. George - President Ursula Hurley - Chief Financial Officer Conference Call Participants Savi Syth - Raymond James Jamie Baker - JPMorgan Daniel McKenzie - Seaport Global Duane Pfennigwerth - Evercore ISI Scott Group - Wolfe Research Brandon Oglenski - Barclays Andrew Didora - Bank of America ...

The third quarter was strong, but the outlook disappointed. JetBlue Airways (JBLU -16.32%) posted better-than-expected results in the third quarter, but the company is not optimistic about the current quarter. Investors are disappointed, sending JetBlue shares down 16% as of 10:45 a.m. ET. Good quarter, questions about the year JetBlue and other airlines enjoyed a surge in demand when the pandemic waned, but in recent quarters there have been signs that demand is ebbing. The airline reported a third-quarter ...

JetBlue Airways Corporation (JBLU) reported third-quarter 2024 loss (excluding one cent per share from non-recurring items) of 16 cents per share, narrower than the Zacks Consensus Estimate of a loss of 26 cents. In the year-ago quarter, JBLU reported a loss of 39 cents. Find the latest EPS estimates and surprises on ZacksEarnings Calendar. Operating revenues of $2.36 billion beat the Zacks Consensus Estimate of $2.34 billion and increased 0.5% year over year. Passenger revenues, accounting for the bulk of ...

| --- | --- | --- | --- | |---------------|-------|-------|-------| | | | | | | 3Q24 Earnings | | | | 1 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 amende ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and onl ...