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Jun 30, 2022
JetBlue Q2 2022 Earnings Report
Reported a GAAP loss per share of ($0.58) and a pre-tax loss of ($151) million.
Key Takeaways
JetBlue reported its Q2 2022 results, including a GAAP loss per share of ($0.58) and an adjusted loss per share of ($0.47). Revenue increased by 16.1% year over three. The company ended the quarter with approximately $2.6 billion in unrestricted cash, cash equivalents, and investments.
Reported GAAP loss per share of ($0.58) in the second quarter of 2022.
Adjusted loss per share was ($0.47) in the second quarter of 2022.
GAAP pre-tax loss of ($151) million in the second quarter of 2022.
Revenue increased 16.1% year over three.
JetBlue
JetBlue
Forward Guidance
JetBlue expects capacity to be flat to negative 3 percent year over three for the third quarter of 2022 and unit revenue to increase between 19 and 23 percent.
Positive Outlook
- Revenue is tracking well to help deliver a profitable quarter.
- Early bookings keep us cautiously optimistic about the fall.
- Expects unit revenue to increase between 19 and 23 percent in Q3.
- Tightening forecast for full-year 2022 CASM ex-Fuel to increase in the range of 11 to 14 percent versus 2019.
- Expects to see some productivity improvement into the fourth quarter and 2023.
Challenges Ahead
- High fuel prices are weighing on margins this summer.
- Short-term operational investments are weighing on margins this summer.
- Expects capacity to be flat to negative 3 percent year over three for the third quarter of 2022.
- Forecasting CASM ex-Fuel to increase 15 to 17 percent for the third quarter of 2022.
- Heightened level of operational investments.