JetBlue Airways (JBLU) Raises Q4 EPS Guidance
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Price: $5.24 -7.26%
Financial Fact:
Interest income and other: 2M
Today's EPS Names:
MSGM, SMID, VISL, More
Financial Fact:
Interest income and other: 2M
Today's EPS Names:
MSGM, SMID, VISL, More
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JetBlue Airways (NASDAQ: JBLU) disclosed:
JetBlue Airways Corporation ("JetBlue" or the "Company") announced today an operational and financial update of its expected fourth quarter and full-year 2023 results.
Demand for travel remains healthy. Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods.
JetBlue experienced strong operational performance during the month of November and achieved a 99.9% completion factor for the month and 100% completion factor for the Thanksgiving peak period.
The table below provides JetBlue’s updated investor guidance.
| Fourth Quarter and Full-Year 2023 Outlook | Estimated 4Q 2023 | Previously Estimated 4Q 2023 (1) | Estimated FY 2023 | Previously Estimated FY 2023 (1) | ||||||||||
| Capacity and Revenue | ||||||||||||||
| Available Seat Miles (ASMs) Year-Over-Year | 2.0% - 3.0% | 0.5% - 3.5% | 5.5% - 6.5% | 5.0% - 7.0% | ||||||||||
| Revenue Year-Over-Year | (7.0%) - (4.0%) | (10.5%) - (6.5%) | 4.0% - 5.0% | 3.0% - 5.0% | ||||||||||
| Expense | ||||||||||||||
| CASM Ex-Fuel (2) (Non-GAAP) Year-Over-Year (3) | 8.5% - 10.5% | 8.5% - 10.5% | 4.5% - 5.5% | 4.5% - 5.5% | ||||||||||
| Estimated Fuel Price per Gallon, Net of Hedges (4), (5) | $3.05 - $3.15 | $3.05 - $3.20 | $3.00 - $3.05 | $3.02 - $3.07 | ||||||||||
| Adjusted Loss per Share (EPS) (Non-GAAP) (2) | ($0.35) - ($0.25) | ($0.55) - ($0.35) | ($0.50) - ($0.40) | ($0.65) - ($0.45) | ||||||||||
(1) As of October 31, 2023.
(2) Non-GAAP financial measure; Refer to Note A for further details on non-GAAP forward looking information.
(3) Includes the impact from the new pilot union agreement of approximately four points for the fourth quarter and three points for full-year 2023.
(4) Includes fuel taxes.
(5) JetBlue utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread to calculate the unhedged portion of its prompt quarter. Fuel price is based on forward curve as of December 1, 2023.
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