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Compared to Estimates, JetBlue (JBLU) Q2 Earnings: A Look at Key Metrics

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For the quarter ended June 2024, JetBlue Airways (JBLU - Free Report) reported revenue of $2.43 billion, down 7% over the same period last year. EPS came in at $0.08, compared to $0.45 in the year-ago quarter.

The reported revenue represents a surprise of +1.37% over the Zacks Consensus Estimate of $2.4 billion. With the consensus EPS estimate being -$0.13, the EPS surprise was +161.54%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how JetBlue performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Load factor: 84% versus the four-analyst average estimate of 84.3%.
  • Average fuel cost per gallon, including fuel taxes: $2.87 versus the three-analyst average estimate of $2.88.
  • Yield per passenger mile: 15.96 cents compared to the 15.87 cents average estimate based on three analysts.
  • Operating revenue per ASM: 14.38 cents versus the three-analyst average estimate of 14.26 cents.
  • Available seat miles (ASMs): 16,887 million versus 16,803.48 million estimated by three analysts on average.
  • Operating expense per ASM, excluding fuel: 10.24 cents compared to the 10.52 cents average estimate based on three analysts.
  • Revenue passenger miles (RPMs): 14,192 million compared to the 14,107.11 million average estimate based on three analysts.
  • Passenger revenue per ASM: 13.41 cents versus the three-analyst average estimate of 13.34 cents.
  • Fuel gallons consumed: 218 Mgal compared to the 221.37 Mgal average estimate based on two analysts.
  • Operating expense per ASM: 14.04 cents versus 14.44 cents estimated by two analysts on average.
  • Operating Revenues- Passenger: $2.27 billion versus $2.25 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.9% change.
  • Operating Revenues- Other: $163 million versus the four-analyst average estimate of $153.12 million. The reported number represents a year-over-year change of +8.7%.
View all Key Company Metrics for JetBlue here>>>

Shares of JetBlue have returned +2.2% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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