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JetBlue Airways Q1 Earnings Miss Estimates, Revenues Increase Y/Y
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Key Takeaways
JBLU reported a wider Q1 loss of 87 cents per share, missing estimates despite higher revenues.
Passenger revenues rose 4% and RASM climbed 6.5% on resilient demand and improved fares.
Fuel costs rallied 12.1% and total expenses rose 6.5%, pressuring JBLU's bottom line.
JetBlue Airways Corporation (JBLU - Free Report) reported a wider-than-expected loss in first-quarter 2026. Revenues edged past the Zacks Consensus Estimate.
The company reported a loss of 87 cents per share, wider than the Zacks Consensus Estimate of a loss of 72 cents. In the year-ago quarter, JBLU reported a loss of 59 cents.
Meanwhile, the operating revenues of $2.24 billion beat the Zacks Consensus Estimate by 0.2%. Total revenues jumped 4.7% year over year, with passenger revenues accounting for 91.4% of the top line and increasing 4% to $2.05 billion, while beating our model estimate of $2.03 billion.
On a year-over-year basis, other revenues increased 12.5% to $192 million but missed our estimate of $206.7 million.
JetBlue Airways Corporation Price, Consensus and EPS Surprise
Revenues per available seat mile (RASM: a key measure of unit revenues) increased 6.5% year over year to $14.60, driven by resilient demand and solid execution in a challenging environment.
Passenger revenues per available seat mile increased 5.8% year over year to 13.35 cents. The average fare at JetBlue increased 3.2% year over year to $219.5. The yield per passenger mile rose 3.9% year over year.
Consolidated traffic (measured in revenue passenger miles) remained flat at $12.6 million on a year-over-year basis. Capacity (measured in available seat miles) fell 1.7% year over year. Consolidated load factor (percentage of seats filled by passengers) increased 1.5 percentage points to 82.2%. Our estimate for the load factor was 81.3%.
Total operating costs (on a reported basis) inched up 6.5% year over year to $2.46 billion. Expenses on aircraft fuel increased 12.1% year over year. Other operating expenses gained 9.9% year over year.
The average fuel price per gallon (including related taxes) was $2.96, up 15.2% year over year. JBLU’s operating expenses per available seat mile (CASM) increased 8.3% year over year. Excluding fuel, CASM rose 6.6% to $12.21.
For second-quarter 2026, capacity is anticipated to increase in the band of 1.5-4.5% from second-quarter 2025 actuals. CASM, excluding fuel and special items, is predicted to climb in the range of 3-5%. Capital expenditures are expected to be approximately $275 million. RASM is forecasted to increase in the range of 7-11% from the second-quarter 2025 actuals. The average fuel cost per gallon is estimated to be between $4.13 and $4.28.
For 2026, capital expenditures are expected to be approximately $800 million.
Q1 Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis. Revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis.
J.B. Hunt Transport Services (JBHT - Free Report) posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, reflecting a 2.8% surprise.
Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.
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JetBlue Airways Q1 Earnings Miss Estimates, Revenues Increase Y/Y
Key Takeaways
JetBlue Airways Corporation (JBLU - Free Report) reported a wider-than-expected loss in first-quarter 2026. Revenues edged past the Zacks Consensus Estimate.
The company reported a loss of 87 cents per share, wider than the Zacks Consensus Estimate of a loss of 72 cents. In the year-ago quarter, JBLU reported a loss of 59 cents.
Meanwhile, the operating revenues of $2.24 billion beat the Zacks Consensus Estimate by 0.2%. Total revenues jumped 4.7% year over year, with passenger revenues accounting for 91.4% of the top line and increasing 4% to $2.05 billion, while beating our model estimate of $2.03 billion.
On a year-over-year basis, other revenues increased 12.5% to $192 million but missed our estimate of $206.7 million.
JetBlue Airways Corporation Price, Consensus and EPS Surprise
JetBlue Airways Corporation price-consensus-eps-surprise-chart | JetBlue Airways Corporation Quote
Other Details of JBLU’s Q1 Earnings
Revenues per available seat mile (RASM: a key measure of unit revenues) increased 6.5% year over year to $14.60, driven by resilient demand and solid execution in a challenging environment.
Passenger revenues per available seat mile increased 5.8% year over year to 13.35 cents. The average fare at JetBlue increased 3.2% year over year to $219.5. The yield per passenger mile rose 3.9% year over year.
Consolidated traffic (measured in revenue passenger miles) remained flat at $12.6 million on a year-over-year basis. Capacity (measured in available seat miles) fell 1.7% year over year. Consolidated load factor (percentage of seats filled by passengers) increased 1.5 percentage points to 82.2%. Our estimate for the load factor was 81.3%.
Total operating costs (on a reported basis) inched up 6.5% year over year to $2.46 billion. Expenses on aircraft fuel increased 12.1% year over year. Other operating expenses gained 9.9% year over year.
The average fuel price per gallon (including related taxes) was $2.96, up 15.2% year over year. JBLU’s operating expenses per available seat mile (CASM) increased 8.3% year over year. Excluding fuel, CASM rose 6.6% to $12.21.
JBLU currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
JBLU’s Outlook
For second-quarter 2026, capacity is anticipated to increase in the band of 1.5-4.5% from second-quarter 2025 actuals. CASM, excluding fuel and special items, is predicted to climb in the range of 3-5%. Capital expenditures are expected to be approximately $275 million. RASM is forecasted to increase in the range of 7-11% from the second-quarter 2025 actuals. The average fuel cost per gallon is estimated to be between $4.13 and $4.28.
For 2026, capital expenditures are expected to be approximately $800 million.
Q1 Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis. Revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis.
J.B. Hunt Transport Services (JBHT - Free Report) posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, reflecting a 2.8% surprise.
Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.