Compared to Estimates, JetBlue (JBLU) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
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For the quarter ended March 2023, JetBlue Airways (JBLU) reported revenue of $2.33 billion, up 34.1% over the same period last year. EPS came in at -$0.34, compared to -$0.80 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.32 billion, representing a surprise of +0.24%. The company delivered an EPS surprise of +10.53%, with the consensus EPS estimate being -$0.38.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how JetBlue performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Load factor: 79.8% versus 82.7% estimated by four analysts on average.

  • Average fuel cost per gallon: $3.50 versus the three-analyst average estimate of $3.42.

  • Yield per passenger mile: 16.31 cents versus 15.77 cents estimated by three analysts on average.

  • Revenue passenger miles: 13375 million versus the three-analyst average estimate of 13679.88 million.

  • Passenger revenue per ASM: 13.01 cents compared to the 12.99 cents average estimate based on three analysts.

  • Operating revenue per ASM: 13.88 cents compared to the 13.88 cents average estimate based on three analysts.

  • Available seat miles: 16769 million versus the three-analyst average estimate of 16594.45 million.

  • Operating Revenues- Passenger: $2.18 billion versus the four-analyst average estimate of $2.16 billion. The reported number represents a year-over-year change of +36.1%.

  • Operating Revenues- Other: $146 million versus the four-analyst average estimate of $149.53 million. The reported number represents a year-over-year change of +9.8%.

View all Key Company Metrics for JetBlue here>>>

Shares of JetBlue have remained unchanged over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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