JetBlue Loss Widens to $257M as Fuel Bill Jumps 61%; CEO Sees Margin Recovery
JBLU sits 17% above its 52-week low of $2.16 on elevated volume (3.0× avg).
Summary
JetBlue's Q3 net loss widened to $257 million from $143 million a year earlier, with the fuel bill up 61% to $868 million. Adjusted loss came in at 60 cents a share versus the 55 cents analysts expected, and revenue of $2.81 billion just missed the $2.82 billion consensus. CEO Joanna Geraghty said margins are improving on resilient demand and strong yields that pushed revenue above the airline's own initial expectations. The quarter follows the 8-K and 10-Q filed tonight showing cash down to $1,258 million and a $1.6 billion working capital deficit, and comes after senior bondholders hired PJT Partners to advise them while the company burns cash. Shares fell more than 12% Monday to an all-time low ahead of the print.
At the time of this announcement, JBLU was trading at $2.53 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $894.2M. The 52-week trading range was $2.16 to $6.62. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Binance News.