Companies /Industrials

Jetblue Airways Corp

NASDAQ: JBLU Airlines
$4.47
▼ $0.13 (−2.83%) today
Markets closed · 12:16am ET

Q1 2026 Earnings

Reported Apr 28, 2026, 7:02am ET · SEC source
$-0.87
Miss −19.51%
EPS · est. $-0.73
$2.2B
Miss −0.06%
Revenue · est. $2.2B
+3.1%
Beating market
JBLU vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%+6%Apr 28Apr 29report 7:02am ETearnings−0.5%−1.2%
−3%0+3%+6%Apr 28Apr 29earnings−0.5%−1.2%
JBLU −1.2%S&P 500 −0.5%
−3%0+3%+6%Apr 28Apr 29report 7:02am ETearnings−0.1%−1.2%
−3%0+3%+6%Apr 28Apr 29earnings−0.1%−1.2%
JBLU −1.2%NASDAQ −0.1%
−4%0+4%+8%Apr 27May 6report 7:02am ETearnings+2.6%+4.1%
−4%0+4%+8%Apr 27May 6earnings+2.6%+4.1%
JBLU +4.1%S&P 500 +2.6%
−4%0+4%+8%Apr 27May 6report 7:02am ETearnings+5.1%+4.1%
−4%0+4%+8%Apr 27May 6earnings+5.1%+4.1%
JBLU +4.1%NASDAQ +5.1%
+1.21%
Day of report
−3.20%
Next session
−3.20%
One week
+9.40%
30 days

S&P 500 over the same 30 days: +6.29%.

Did JBLU Beat Earnings? Q1 2026 Results

JetBlue Airways posted a deeper-than-expected loss in Q1 2026, missing Wall Street estimates on both the top and bottom lines as soaring fuel costs overwhelmed a solid revenue recovery. The carrier reported an adjusted loss of $0.87 per diluted share, falling short of the consensus estimate of $0.73 by 19.51%, while revenue of $2.24 billion edged just 0.06% below expectations despite growing 4.7% year-over-year. The primary culprit was a 15.2% spike in average fuel cost per gallon to $2.96, which, combined with severe weather disruptions that clipped roughly four points of capacity, pushed total operating expenses up 6.5% to $2.46 billion. The results land against a backdrop of broader investor anxiety, with bankruptcy speculation circulating in recent weeks before the CEO publicly reaffirmed the airline's liquidity position. Looking ahead, JetBlue faces a steeper fuel headwind in Q2, guiding for fuel costs of $4.13 to $4.28 per gallon, though management expects RASM growth of 7% to 11% to capture roughly 30% to 40% of that pressure, with full recapture targeted by early 2027.

Key Takeaways
  • RASM grew 6.5% YoY driven by resilient consumer demand and improved yields
  • Fort Lauderdale RASM up 5% on 23% capacity growth
  • Premium cabin RASM outperformed core by approximately 9 points YoY
  • Loyalty cash remuneration grew 19% YoY with double-digit co-brand spend growth and 45% increase in card acquisitions
  • Load factor improved 1.5 points to 82.2%
  • Average fare increased 3.2% YoY to $219.49

“We delivered a strong first quarter, with revenue performance exceeding our expectations, driven by resilient consumer demand and an appreciation for JetBlue's industry-leading customer offering. Demand trends strengthened as the quarter progressed, supporting improved yields, even in the face of a challenging operational environment.”

JetBlue Airways CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2026, JetBlue guides ASMs growth of 1.5% to 4.5% YoY, RASM growth of 7.0% to 11.0% YoY (implying 30-40% fuel recapture), CASM ex-fuel growth of 3.0% to 5.0% YoY, fuel price per gallon of $4.13-$4.28, and capex of ~$275 million. Full-year 2026 capex is guided at ~$800 million (reduced from prior ~$900 million). The company expects 100% fuel recapture by early 2027. Q2 capacity growth is entirely driven by Fort Lauderdale. Second-half 2026 capacity is being reduced by at least 2-3 points versus prior expectations, focused on off-peak periods. JetForward initiatives are on track to deliver $310 million in incremental EBIT in 2026 and $850-$950 million in 2027. JetBlue targets positive free cash flow by end of 2027, highly dependent on fuel price moderation. The estimated Q2 2026 effective tax rate is ~6%, reflecting a non-cash valuation allowance impact.

JBLU YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$900.0M$1.8B$2.1B$2.2BRevenue$-314,341,847$-224,000,000Operating Income$-684,108,943$-319,000,000Net Income
$0$900.0M$1.8BRevenueOperating IncomeNet Income

JBLU Revenue by Segment

Passenger Revenue$2.0B+4.0%
Other Revenue$192.0M+12.5%

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