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Is a Beat in Store for JetBlue Airways (JBLU) in Q2 Earnings?

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JetBlue Airways Corporation (JBLU - Free Report) is scheduled to report second-quarter 2024 results on Jul 30 before market open.

JetBlue Airways has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missing once. The average beat is 4.77%.

The Zacks Consensus Estimate for JBLU’s soon-to-be-reported quarter’s loss is currently pegged at 16 cents per share, narrower than the loss of 26 cents per share 60 days ago.

The Zacks Consensus Estimate for revenues is pegged at $2.40 billion, which indicates a decline of 8.23% from the year-ago levels.

JetBlue Airways’expansion projects amid increased demand scenarios are expected to have boosted its performance in the to-be-reported quarter.  Our estimate for passenger revenues is pegged at $2.23 billion, which calls for an increase of 8.4% from the first-quarter 2024 actuals. Meanwhile, estimates for other revenues are pegged at $153.7 million.

On the contrary, an increase in operating expenses may adversely impact the company’s bottom line in the June quarter. Even though the fuel price has come down from the highs witnessed earlier, it still remains at an elevated level. Our projection for the metric is pegged at $2.90 per gallon.

What Our Model Says

Our proven model predicts an earnings beat for JetBlue Airwaysthis time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here.

JBLU has an Earnings ESP of +22.96% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Highlights of Q1

JetBlue Airways first-quarter 2024 loss (excluding $1.68 from non-recurring items) of 43 cents per share was narrower than the Zacks Consensus Estimate of a loss of 53 cents. In the year-ago quarter, JBLU reported a loss of 34 cents.

Operating revenues of $2.21 billion edged past the Zacks Consensus Estimate of $2.2 billion. However, the top line decreased 5.11% year over year.

Other Stocks to Consider

Here are a few other stocks from the broader Zacks Transportation sector that investors might want to consider, as our model shows that these also have the right combination of elements to beat second-quarter 2024 earnings.

Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +2.22% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. EXPD is scheduled to report second-quarter 2024 earnings on Aug 6.

The company has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate only once in the preceding four quarters and missing thrice, the average miss being 3.44%.

C.H. Robinson (CHRW - Free Report) has an Earnings ESP of +5.29% and a Zacks Rank #2. The company is scheduled to report second-quarter 2024 earnings on Jul 31.

CHRW surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once. The average beat is 2.07%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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