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Dec 31, 2022
JetBlue Q4 2022 Earnings Report
Reported record fourth quarter revenue and solid cost execution.
Key Takeaways
JetBlue reported strong fourth quarter performance with record revenue and met its full-year cost target. The company is optimistic about building on this success in 2023 with a focus on strengthening operations and finances.
Net income for the fourth quarter of 2022 under GAAP of $24 million or $0.07 per share.
Adjusted net income for the fourth quarter of 2022 of $72 million or $0.22 per share, excluding one-time items.
Operating revenue of $2.4 billion for the fourth quarter of 2022, the highest fourth quarter operating revenue in company history.
Revenue per available seat mile (RASM) increased 16.1% for the fourth quarter of 2022 compared to the fourth quarter of 2019, despite a negative impact from Hurricane Nicole.
JetBlue
JetBlue
Forward Guidance
JetBlue anticipates a strong year of revenue growth, supported by network and commercial initiatives, and expects earnings accretion from the NEA as markets mature. The company is on track to materially improve financial performance throughout 2023 and deliver a full-year adjusted profit with margins approaching pre-pandemic levels.
Positive Outlook
- Demand environment remains solid into the seasonally trough period of the year.
- Continue building on last year’s record performance.
- Another strong year of revenue growth, underpinned by multiple network and commercial initiatives
- Strong earnings accretion from the NEA as our markets mature.
- Continue to make progress on our multi-year path to grow our loyalty revenue stream as a percentage of our total revenue base and close the gap to best in class loyalty performance.