JetBlue Airways (JBLU) Q3 2026 Earnings
Excludes $33 million adjustment to litigation reserves (special items) and gain on investments, net
How Did JBLU Stock React to Q3 2026 Earnings?
Did JBLU Beat Earnings? Q3 2026 Results
No. JetBlue Airways reported Q3 2026 earnings of $-0.60 a share on Oct 26, 2026, missing the $-0.55 consensus estimate by 8.8%. Revenue was $2.8B against a $2.8B estimate.
JetBlue Airways posted a bruising third quarter, missing on both the top and bottom lines as a fuel cost surge overwhelmed the airline's strongest revenue performance in years. Adjusted loss per share came in at $-0.60, worse than the $-0.55 consensus estimate by 8.66%, while revenue of $2.81 billion fell just short of the $2.83 billion forecast despite a 21.1% year-over-year gain, with RASM growth of 18.4% beating the airline's own initial guidance of 14.5% at midpoint. The culprit was unmistakable: fuel costs surged 61% to $868 million at $3.91 per gallon, widening the GAAP net loss to $257 million from $143 million a year ago. The results arrive against a backdrop of creditor unease, with restructuring advisers reportedly engaged amid the fuel price environment. Looking ahead, management guided Q4 RASM growth of 18%-22% and expects 1-2 points of year-over-year adjusted operating margin expansion, while the JetForward program remains targeted to deliver at least $1.00 EPS and positive free cash flow by 2028.
- 18.4% RASM growth YoY driven by over 20% yield growth with no meaningful demand elasticity
- Both premium (Mint) and Main cabin achieved double-digit RASM growth
- Corporate revenue increased approximately 25% YoY
- Loyalty revenue grew 20% YoY with double-digit co-brand spending growth
- Upgraded revenue management system delivering early benefits ahead of expectations
- Fort Lauderdale RASM increased nearly 15% on more than 65% capacity growth
- Fuel recapture reached approximately 87%, ahead of 70-80% expectation
- Over $30 million of JetForward cost saving initiatives delivered in Q3
“I'm very encouraged by the progress we made in the third quarter. Resilient demand and strong yields drove revenue well ahead of our initial expectations, allowing us to recapture more of the increase in fuel costs than we initially expected. That momentum has carried into the fourth quarter, and Fort Lauderdale continues to deliver exceptional results even as we significantly grow capacity.”
JetBlue Airways CEO, on the earnings call
What Is JetBlue Airways's Outlook?
For Q4 2026, JetBlue guides ASMs growth of 3.0%-4.0% YoY, RASM growth of 18.0%-22.0% YoY, CASM ex-fuel growth of (1.0%)-1.0% YoY, fuel price of $4.64/gallon, and capex of ~$300 million. Management expects 1-2 points of year-over-year adjusted operating margin expansion in Q4 despite fuel prices ~85% higher YoY. For full year 2026: ASMs growth of 1.5%-2.5%, RASM growth of 13.5%-14.5%, CASM ex-fuel growth of 3.5%-4.5%, average fuel of $3.95/gallon, adjusted operating margin of (4.5%)-(6.5%), interest expense of ~$590 million, and capex of ~$850 million. The company targets sustained operating profitability in 2027, at least $1 EPS and positive free cash flow in 2028, supported by ~$1.2 billion in incremental EBIT from JetForward initiatives.
JBLU YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.8B | $2.3B | +21.1% |
| Operating Income | −$144.0M | −$257.1M | −44.0% |
| Net Income | −$257.0M | −$1.3B | −79.7% |
JBLU Revenue by Segment
When Does JetBlue Airways Report Next?
Figures from SEC filings and company reports. Not investment advice.