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Jun 30, 2021
JetBlue Q2 2021 Earnings Report
Reported second quarter 2021 results, showing signs of returning consumer confidence and travel demand.
Key Takeaways
JetBlue Airways Corporation reported GAAP diluted earnings per share of $0.20 for the second quarter of 2021. The company's revenue declined 29% year over two. They ended the quarter with approximately $3.7 billion in unrestricted cash, cash equivalents, and short-term investments.
Reported GAAP diluted earnings per share of $0.20 in the second quarter of 2021.
Second quarter 2021 revenue declined 29% year over two.
Adjusted EBITDA in the second quarter of 2021 was ($86) million.
JetBlue ended the second quarter of 2021 with approximately $3.7 billion in unrestricted cash, cash equivalents, and short-term investments.
Forward Guidance
For the third quarter, JetBlue estimates its EBITDA will range between $75 and $175 million dollars. They expect to remain in positive EBITDA territory through the end of the year, and expect to generate pre-tax profits in July and August.
Positive Outlook
- Continued sequential improvement in demand.
- Committed to generating better than pre-pandemic earnings in the next few years by growing revenue and controlling costs.
- Confident that they are on the right path to expand margins in a sustainable way.
- Now squarely focused on repairing their balance sheet, lowering total cost of debt, and growing their unencumbered asset base.
- Net debt and weighted average cost of debt now sit below pre-pandemic levels.
Challenges Ahead
- Continued cost pressures from fuel prices.
- Continued cost pressures from airport rents and landing fees.
- Revenue is expected to decline between (4%) and (9%) year over two.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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