JetBlue Airways (JBLU) Tops Q1 EPS by 8c

JetBlue Airways (NASDAQ: JBLU) reported Q1 EPS of $0.27, $0.08 better than the analyst estimate of $0.19. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.75 billion.

Highlights from the First Quarter 2018

• First quarter 2018 revenue per available seat mile (RASM) growth of 6.1%, year over year, including the net benefit from Holiday calendar placement.
• Operating expenses per available seat mile, excluding fuel (CASM ex-fuel) of 3.1%, within the initial guidance range, despite a lower completion factor and offset by timing of maintenance expenses.
• JetBlue signed a multi-year agreement with Pratt & Whitney for the purchase and maintenance of GTF engines, as work on the Structural Cost Program continues.

Key Guidance for the Second Quarter and Full Year 2018:

• Capacity is expected to increase between 5.0% and 7.0% year over year in the second quarter 2018. For the full year 2018, JetBlue expects capacity to increase between 6.5% and 8.5%.
• RASM growth is expected to range between (3.0)% and 0% for the second quarter 2018 compared to the same period in 2017.
• CASM Ex-Fuel is expected to grow between 2.0% and 4.0% for the second quarter of 2018. For the full year 2018, JetBlue expects year over year CASM Ex-Fuel to be between (1.0)% and 1.0%.

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

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