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Mar 31, 2024
JetBlue Q1 2024 Earnings Report
JetBlue's financial performance exceeded expectations due to progress on revenue and cost initiatives.
Key Takeaways
JetBlue reported a net loss of $716 million, or $2.11 loss per share, for the first quarter of 2024. However, adjusted net loss, excluding special items, was $145 million, or $0.43 loss per share. The company's revenue was $2.2 billion, a 5.1% decrease year-over-year. JetBlue is focused on executing its refreshed standalone strategy to return to profitability.
Operation performed above plan due to improved reliability.
Significant elevated capacity in the Latin region is expected to pressure revenue.
Announced significant network changes to reallocate unprofitable flying to proven leisure markets.
Implemented new fixed cost savings initiatives and rationalized real estate footprint.
Revenue by Segment
Forward Guidance
JetBlue expects elevated capacity in the Latin region to impact revenue performance in Q2. The remainder of the network is steadily improving, and the company plans to launch additional revenue initiatives. JetBlue remains committed to winning in high-margin, core geographies and returning to profitability.
Positive Outlook
- Network steadily improving outside of Latin region.
- Plans to launch additional revenue initiatives.
- Committed to winning in high-margin, core geographies.
- Focus on controllable cost execution.
- Structural cost program and fleet modernization on track.
Challenges Ahead
- Elevated capacity in the Latin region expected to impact revenue performance.
- Fuel continues to remain volatile.
- Unique and dynamic challenges in the industry.
- Revenue Year-Over-Year (10.5%) - (6.5%)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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