Companies /Industrials

Jetblue Airways Corp

NASDAQ: JBLU Airlines
$4.49
▼ $0.11 (−2.42%) today
Markets open · 3:29pm ET

Q3 2025 Earnings

Reported Oct 28, 2025, 7:02am ET · SEC source
$-0.40
Beat +4.81%
EPS · est. $-0.42
$2.3B
Beat +0.01%
Revenue · est. $2.3B
+10.4%
Beating market
JBLU vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−10%−5%0Oct 28Oct 29report 7:02am ETearnings+0.5%−10.6%
−10%−5%0Oct 28Oct 29earnings+0.5%−10.6%
JBLU −10.6%S&P 500 +0.5%
−10%−5%0Oct 28Oct 29report 7:02am ETearnings+1.1%−10.6%
−10%−5%0Oct 28Oct 29earnings+1.1%−10.6%
JBLU −10.6%NASDAQ +1.1%
−10%−5%0Oct 27Nov 5report 7:02am ETearnings−1.6%−12.3%
−10%−5%0Oct 27Nov 5earnings−1.6%−12.3%
JBLU −12.3%S&P 500 −1.6%
−10%−5%0Oct 27Nov 5report 7:02am ETearnings−1.7%−12.3%
−10%−5%0Oct 27Nov 5earnings−1.7%−12.3%
JBLU −12.3%NASDAQ −1.7%
−11.86%
Day of report
−1.68%
Next session
−1.92%
One week
+9.86%
30 days

S&P 500 over the same 30 days: −0.53%.

Did JBLU Beat Earnings? Q3 2025 Results

JetBlue Airways delivered a modestly encouraging third quarter, posting a non-GAAP loss of $0.40 per share against a consensus estimate of $0.42, a 4.81% beat, while revenue of $2.32 billion edged past expectations despite sliding 1.8% year-over-year. The most material driver of the relative outperformance was cost discipline, with CASM ex-fuel rising just 3.7% year-over-year, near the favorable end of guidance, aided by strong operational execution in August and September that helped offset weather and air traffic control disruptions earlier in the quarter. Fuel costs also eased, with the average price per gallon falling to $2.49 from $2.67 a year ago. Still, the operating loss widened to $100 million from $38 million in the prior-year period, and some observers remain cautious about the airline's elevated leverage and the pace of its JetForward transformation. Looking ahead, JetBlue guided Q4 RASM in a range of -4.0% to 0.0% year-over-year, trimmed full-year capital expenditures by $100 million to approximately $1.10 billion, and outlined 2026 planning assumptions anchored in low-to-mid single digit capacity growth.

Key Takeaways
  • Strong close-in demand drove RASM to better end of guidance range
  • Premium products continued to outperform core, with YoY premium RASM six points higher vs. core
  • TrueBlue loyalty revenue up 12% YoY with co-brand sign-ups up double digits
  • CASM ex-fuel at favorable end of guidance supported by strong operational execution in August and September
  • Average fuel cost per gallon decreased 6.8% YoY to $2.49
  • Managed corporate bookings showed strength with yields up high single digits YoY

“JetBlue's progress toward profitability is gaining momentum as a result of the swift actions we've taken to implement our JetForward strategy and set a strong foundation for 2026.”

JetBlue Airways CEO, on the earnings call

Forward Guidance & Outlook

For Q4 2025, JetBlue guides ASMs YoY of -0.75% to +2.25%, RASM YoY of -4.0% to 0.0%, CASM ex-fuel YoY of 3.0% to 5.0%, and fuel price per gallon of $2.33 to $2.48, with capex of ~$300 million. For full year 2025, ASMs YoY of -2.0% to 0.0%, CASM ex-fuel YoY of 5.0% to 6.0% (improved midpoint), interest expense of ~$590 million (reduced ~$10M), and capex of ~$1.1 billion (reduced $100M). Management expects peaks to remain strong while troughs remain challenging, with relatively stronger demand for premium offerings versus core. Initial 2026 planning assumptions include low-to-mid single digit capacity growth and low single digit CASM ex-fuel growth. Capex is expected to decline through the end of the decade and trend at or below $1 billion annually. Guidance does not contemplate any impact from an extended government shutdown or Hurricane Melissa.

JBLU YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$700.0M$1.4B$2.1B$2.4B$2.3BRevenue
$0$700.0M$1.4B$2.1BRevenue

JBLU Revenue by Segment

Passenger Revenue$2.1B−2.9%
Other Revenue$187.0M+12.0%

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