JetBlue Q1 net loss $716M, revenue down 5.1%; Q2 revenue guidance -10.5% to -6.5%

JETBLUE AIRWAYS CORP

2024-Q1 EPS reported -$2.11 revenue$2,209,000,000

GAAP net loss $716M ($2.11/sh); adjusted net loss $145M ($0.43/sh).
Revenue $2.2B, down 5.1% YoY; capacity down 2.7% YoY.
Q2 revenue guidance down 10.5%-6.5% YoY, CASM ex-fuel up 5.5%-7.5%.
Structural cost savings $100M to-date; target $175-200M by year-end.
Changed engine compensation accounting; benefits now reduce aircraft assets, not Opex.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

JETBLUE AIRWAYS CORP reported the first quarter ended March 31, 2024 results: revenue $2.2 billion, net income $716 million, EPS $2.11 loss per share. Guidance lowered.

Period: the first quarter ended March 31, 2024
Revenue: $2.2 billion
Net income: $716 million
EPS: $2.11 loss per share
Guidance: lowered
Result: reported results

Exact text from the filing

net loss for the first quarter of 2024 of $145 million (1) or $0.43 loss per share. • First quarter of 2024 capacity decreased by 2.7% year-over-year. • Operating revenue of $2.2 billion for the first quarter of 2024, down 5.1% year-over-year. • Operating expense for the first quarter of 2024 increased by 14.0% year-over-year to $2.9 billion. • Operating expense

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Source: SEC EDGAR

accession 0001158463-24-000012

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