JetBlue (JBLU) Up 5.9% Since Last Earnings Report: Can It Continue?

Core Insights - JetBlue Airways reported a narrower loss of 16 cents per share for Q3 2024, compared to a loss of 39 cents in the same quarter last year, and better than the Zacks Consensus Estimate of a loss of 26 cents [2][3] - Operating revenues reached $2.36 billion, exceeding the Zacks Consensus Estimate of$2.34 billion, with a year-over-year increase of 0.5% [3] - The company anticipates a decline in capacity for Q4 2024 in the range of 4-7% and expects total revenues to decrease by 3-7% [8][9] Financial Performance - Passenger revenues, which constitute 92.9% of total revenues, fell by 0.1% to $2.19 billion, while other revenues increased by 9.8$167 million [3] - Revenue per available seat mile (RASM) grew by 4.3% year over year to 14.13 cents, and passenger revenue per available seat mile increased by 3.6% to 13.13 cents [4] - Total operating costs decreased by 4.2% year over year to $2.40 billion, with aircraft fuel expenses declining by 16.8$2.67, down 12.2% year over year, which was below the company's guidance range [6] - For 2024, capacity is expected to decline in the range of 2.5-4.5%, with CASM (excluding fuel and special items) projected to rise by 7% [9] - Capital expenditures for 2024 are estimated to be approximately $1.6 billion [10] Market Position and Estimates - JetBlue's stock has seen a 5.9$6.87 billion, reflecting a year-over-year increase of 5.3% [15] - Southwest Airlines is projected to post earnings of $0.39 per share for the current quarter, with a Zacks Rank of 2 (Buy) [16]