Companies /Industrials

Jetblue Airways Corp

NASDAQ: JBLU Airlines
$4.47
▼ $0.13 (−2.83%) today
Markets closed · 8:02pm ET

Q2 2025 Earnings

Reported Jul 29, 2025, 7:00am ET · SEC source
$-0.16
Beat +51.20%
EPS · est. $-0.33
$2.4B
Beat +3.10%
Revenue · est. $2.3B
+10.3%
Beating market
JBLU vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
0+4%+8%Jul 29Jul 30report 7:00am ETearnings−0.4%+2.3%
0+4%+8%Jul 29Jul 30earnings−0.4%+2.3%
JBLU +2.3%S&P 500 −0.4%
0+4%+8%Jul 29Jul 30report 7:00am ETearnings−0.3%+2.3%
0+4%+8%Jul 29Jul 30earnings−0.3%+2.3%
JBLU +2.3%NASDAQ −0.3%
−8%−4%0+4%Jul 28Aug 6report 7:00am ETearnings−1.4%−3.3%
−8%−4%0+4%Jul 28Aug 6earnings−1.4%−3.3%
JBLU −3.3%S&P 500 −1.4%
−8%−4%0+4%Jul 28Aug 6report 7:00am ETearnings−1.7%−3.3%
−8%−4%0+4%Jul 28Aug 6earnings−1.7%−3.3%
JBLU −3.3%NASDAQ −1.7%
+6.65%
Day of report
−3.44%
Next session
−6.24%
One week
+12.47%
30 days

S&P 500 over the same 30 days: +2.15%.

Did JBLU Beat Earnings? Q2 2025 Results

JetBlue Airways delivered a stronger-than-expected second quarter, posting an adjusted loss of $0.16 per share against a consensus estimate of $0.33, a 51.20% beat, while revenue of $2.36 billion edged ahead of the $2.29 billion Wall Street expected by 3.10%, even as total sales slipped 3.0% year-over-year. The headline driver was meaningful progress on the carrier's JetForward transformation plan, which has now generated $180 million in cumulative incremental EBIT since inception, including $90 million in the first half of 2025 alone. A newly announced interline and loyalty partnership with United Airlines, called Blue Sky, lifted the program's cumulative EBIT target to $850 million to $950 million by end of 2027. Cost discipline also helped, with fuel expense falling 19.4% to $504 million and CASM ex-fuel growth beating guidance for the seventh consecutive quarter. Looking ahead, JetBlue guided Q3 RASM down 6.0% to 2.0% year-over-year, while an improving Pratt and Whitney aircraft-on-ground situation, now expected to average fewer than 10 planes this year, supports a gradual return to capacity growth.

Key Takeaways
  • Strong close-in demand with revenue generated within 14 days of travel up 7% YoY
  • Premium unit revenues up mid-single digits YoY
  • Loyalty revenues up mid-single digits with TrueBlue enrollments up 5% YoY
  • On-time performance up 3 points YoY and completion factor up 0.5 points in first half 2025
  • Net Promoter Score rose by double digits
  • Fuel costs declined 19.4% YoY to $2.40 per gallon
  • JetForward delivered $90 million incremental EBIT in first half 2025, $180 million cumulatively

“We ended the first half of 2025 with meaningful progress on JetForward. Operational investments drove significant reliability improvements, with on-time performance up three points year-over-year. Customer satisfaction also increased considerably over the first half of this year, and JetBlue's Net Promoter Score rose by double digits.”

JetBlue Airways CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2025, JetBlue guides ASMs YoY change of (1.0%) to 2.0%, RASM YoY change of (6.0%) to (2.0%), CASM ex-fuel YoY growth of 4.0% to 6.0%, and fuel price per gallon of $2.50–$2.65. Q3 capital expenditures are expected at ~$375 million. For full year 2025, ASMs are guided at (2.5%) to (0.5%) YoY, CASM ex-fuel growth of 5.0% to 7.0% (reinstating initial guidance despite ~1.5 points less capacity than originally planned), interest expense of ~$600 million, and capital expenditures of ~$1.2 billion. The Pratt & Whitney AOG forecast has improved to fewer than 10 aircraft on average for 2025 (down from mid-to-high teens), expected to decrease to mid-single digits in 2026 and fully resolve by year-end 2027, enabling a return to sustainable capacity growth through the end of the decade. Management is optimistic that the demand environment is turning a corner, with close-in demand strength continuing into July. The JetForward EBIT target has been raised to $850–$950 million by end of 2027, up from $800–$900 million, driven by the Blue Sky collaboration with United Airlines. Guidance does not include potential impacts from tariffs.

JBLU YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$700.0M$1.4B$2.1B$2.4B$2.4BRevenue$57.0M$6.0MOperating Income
$0$700.0M$1.4B$2.1BRevenueOperating Income

JBLU Revenue by Segment

Passenger Revenue$2.2B−3.8%
Other Revenue$177.0M+8.1%

Figures from SEC filings and company reports. Not investment advice.