Jetblue Airways Corp (JBLU) Misses Q1 EPS by 6c, Sales Miss

Jetblue Airways Corp (NASDAQ: JBLU) reported Q1 EPS of $0.01, $0.06 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.37 billion.

Revenue passenger miles for the first quarter increased 1.8% to 8.7 billion on a capacity increase of 2.7%, resulting in a first quarter load factor of 83.1%, a decrease of 0.8 points year over year.

Yield per passenger mile in the first quarter was 14.20 cents, up 1.8% compared to the first quarter of 2013. Passenger revenue per available seat mile (PRASM) for the first quarter 2014 increased 0.9% year over year to 11.80 cents and operating revenue per available seat mile (RASM) increased 1.1% year over year to 12.95 cents. The shift of the Easter and Passover holidays from March last year to April this year negatively impacted first quarter year over year PRASM by approximately three points.

"Today, we reported our sixteenth consecutive quarter of profitability," said Dave Barger, JetBlue's Chief Executive Officer. "While first quarter results were negatively impacted by severe winter weather in the Northeast, we believe our maturing network in high-value geography together with our differentiated product and service will help JetBlue expand margins and improve shareholder returns in 2014."

For earnings history and earnings-related data on Jetblue Airways Corp (JBLU) click here.

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