JetBlue Q1 2026 earnings miss as losses widen

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Cris Tolomia

Tue, April 28, 2026 astatine 7:32 AM CDT 2 min read

JetBlue Airways reported a nett nonaccomplishment of $319 cardinal successful the archetypal 4th of 2026, wider than the $208 cardinal nonaccomplishment it posted successful the aforesaid play a twelvemonth earlier. According to Barron's, Wall Street had forecast a 73-cent adjusted nonaccomplishment per share, making the existent 86-cent effect a meaningful miss. Shares had already shed 6.2% the time earlier the study and extended those declines by different 1.5% successful premarket trading connected April 28.

Total operating gross reached $2.2 cardinal for the quarter, up 4.7% year-over-year. Revenue per disposable spot mile roseate 6.5% year-over-year, the institution said, coming successful astatine the amended extremity of its revised guidance range.

Fuel costs were a superior resistance connected results. At $2.96 a gallon connected average, pitchy substance outgo the bearer 15.2% much than it did successful the aforesaid play a twelvemonth agone — and the institution projects that fig volition ascent further, to a scope of $4.13 to $4.28 per gallon successful the 2nd quarter.

Total operating expenses roseate 6.5% year-over-year to $2.46 billion. Operating disbursal per disposable spot mile accrued 8.3%, outpacing the 6.5% maturation successful gross per disposable spot mile.

In effect to elevated substance costs, JetBlue said it is cutting capableness during off-peak periods. The hose reduced second-quarter capableness by astir 1 constituent versus close-in expectations and said it would trim second-half capableness by astatine slightest 2 to 3 points versus anterior expectations. It expects 30% to 40% substance recapture successful the 2nd 4th and afloat recapture by aboriginal 2027.

"While the macro environment, peculiarly fuel, has go much volatile, we are taking decisive actions to negociate what is wrong our control," CEO Joanna Geraghty said successful a statement.

Looking ahead, JetBlue projected second-quarter gross per disposable spot mile maturation of 7% to 11% year-over-year. The institution said each of its second-quarter capableness maturation is concentrated successful Fort Lauderdale, wherever first-quarter gross per disposable spot mile roseate 5% connected 23% capableness growth.

JetBlue ended the archetypal 4th with $2.4 cardinal successful liquidity, representing 26% of trailing twelve-month revenue. The institution besides executed $500 cardinal successful committed aircraft-backed financing, with the enactment to summation that by an further $250 million, and repaid $325 cardinal successful convertible notes during the 2nd quarter.

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