JetBlue Airways Q3 2024 Report

JetBlue Airways (NASDAQ:JBLU) reported better-than-expected results for the third quarter, but its shares fell more than 4% in Tuesday’s premarket trade.

Financial Highlights

• Loss per Share: $0.16 (analysts expected a loss of $0.22)
• Quarterly Revenue: $2.37 billion (slightly ahead of the consensus estimate of $2.35 billion)
• Passenger Operating Revenue: $2.2 billion (just above the anticipated $2.19 billion)
• Available Seat Miles: 16.74 billion (compared to the consensus estimate of 16.67 billion)

Future Outlook

JetBlue has narrowed its revenue forecast for the full year, now expecting a decline of 4% to 5%, compared to its previous outlook of a 4% to 6% drop. The forecast for available seat miles has been adjusted to anticipate a decline of 2.5% to 4.5%, compared to the prior range of 2.5% to 5%.

CEO Statement

"We met or exceeded all of our financial targets for the third quarter and progressed on the implementation of our JetForward strategy, sustaining the momentum we established in the second quarter," said Joanna Geraghty, CEO of JetBlue. "Thanks to our crewmembers' efforts and our improved operational performance in the third quarter, we saw a double-digit increase in customer satisfaction year-over-year."