JetBlue Posts 68-Cent Q3 Loss Per Share as Cash Burn Deepens
JBLU is trading near its 52-week low of $2.16 (11% above the low) on elevated volume (2.8× avg).
Summary
JetBlue reported a third-quarter loss of 68 cents per share, a net loss of $257 million on revenue of $2.81 billion. That lands on top of a $247 million net loss in Q2, when fuel costs jumped 81% and liquidity stood at $2.2 billion. The stock closed Monday down more than 12% at an all-time low with short interest above 30% of float, so the print confirms the bear case rather than surprising it. The bigger issue is the balance sheet: senior bondholders have already hired PJT Partners to advise them while the company burns cash and absorbs high fuel costs. Management's September guidance already flagged higher fuel and operating costs alongside a Q3 revenue raise, so the cost side is where the damage sits, though the company sees Q4 margin expansion and says revenue strength has extended beyond the peak summer season and into the fourth quarter.
At the time of this announcement, JBLU was trading at $2.39 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 positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.