JetBlue Airways reported a significant first-quarter loss of $145 million, or 43 cents per share, and has lowered its revenue outlook for 2024, attributing the downturn to excess flying capacity in Latin America. The company's adjusted earnings per share were $0.43, beating estimates by $0.09, while revenue was slightly above expectations at $2.209 billion. Despite these figures, JetBlue's stock experienced a sharp decline, falling as much as 19% in pre-market trading. The CEO warned that the elevated capacity in Latin America, a key market for JetBlue, is expected to continue affecting revenue negatively throughout the year.
$JBLU CEO: "As we look to the full year, significant elevated capacity in our Latin region, which represents a large portion of JetBlue’s network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year"
JetBlue stock plunges as much as 19% as profitability goal hits setback https://t.co/4ackeoIxje by @ines_ferre
JetBlue's stock slides 16% after Q1 loss, on pace for biggest decline in 4 years #JetBlue $JBLU https://t.co/UVDtM7WtTX
JetBlue lowers annual revenue forecast as Latin America oversupply bites https://t.co/Ae2bNfpCc7 https://t.co/8E974WfelX
Shares of JetBlue $JBLU have dropped over 16% in trading this morning, after the air carrier reported a decline in its first-quarter topline and issued a disappointing outlook. #JetBlue #StockMarket https://t.co/PrkB3IO3D1
JetBlue Airways $JBLU stock dips as revenue declines https://t.co/PiMJfkzs1v https://t.co/fsPN15Hpzt
$JBLU (-12.0% pre) JetBlue’s stock slides 10% premarket as Q1 loss widened significantly, CEO warns on full year https://t.co/CufO2dthw1
$JBLU Revenue dropped 5.1% from last year to $2.21 billion JetBlue lost $145 million, or 43 cents per share Stock down 10% pre market on poor guidance
JetBlue shares tumble 9% after airline lowers 2024 revenue outlook https://t.co/YbnHwBZsf7
JetBlue’s stock slides 8% premarket as Q1 loss widens significantly, CEO warns on full year https://t.co/jMXaEfT5Q3
JetBlue Airways says revenue this quarter will fall more than analysts expected due to excess flying capacity in Latin America https://t.co/Im106zK49v
$JBLU | JetBlue Airways Q1 Earnings: - Adj EPS/Loss $0.43 (Est/Loss $0.52) 🟢 - Sales $2.209B (Est. $2.205B) 🟢 https://t.co/1zJnlgYg7p