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JetBlue Airways (JBLU) Beats on Q2 Earnings

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JetBlue Airways Corporation (JBLU - Free Report) reported second-quarter 2018 earnings per share (excluding 76 cents from non-recurring items) of 38 cents, beating the Zacks Consensus Estimate of 36 cents. Earnings however, decreased significantly on a year-over-year basis.

How Was the Estimate Revision Trend?

Investors should note that the earnings estimate revisions for JetBlue Airways depicted a gloomy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter earnings being revised 7.7% downward over the last 60 days.

The company however has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 9.2%.


Revenues Lower-Than-Expected

JetBlue Airways recorded revenues of $1,928 million, below the Zacks Consensus Estimate of $1,931.2 million. However, revenues increased from the year ago figure.

Key Stats to Note: The airline witnessed a 1% fall in consolidated passenger revenue per available seat mile (PRASM: a key measure of unit revenue) in the quarter. For the third quarter of 2018, the carrier expects revenue per available seat mile (RASM) to rise in the range of 0-3%. Third-quarter unit costs, excluding fuel is estimated to increase in the band of 1-3%. While capacity is expected to increase between 7.5% and 9.5% in the third quarter.  

For 2018, the carrier expects non-fuel unit costs to be down 1% to up 1% year over year. While capacity for the year is anticipated to rise between 6.5% and 7.5%.

Zacks Rank: Currently, JetBlue Airways has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stock Price: The earnings beat pleased the investors. Consequently shares of the company were up in pre-market trading at the time of writing.
 
Check back later for our full write up on this JetBlue Airways earnings report later!

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