JetBlue stock plunges as much as 19% as profitability goal hits setback [Yahoo! Finance]
JetBlue Airways Corporation (JBLU)
Last jetblue airways corporation earnings: 1/23 07:00 am
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Source: Yahoo! Finance
It's another setback in the company's attempts to get back to a black bottom line. "We've got to get the business back to profitability," Ursula Hurley, JetBlue CFO said during the airline's conference call. Profitability would mean free cash flow, the CFO said, which would allow the airline to pivot to paying down its debt. Hurley added JetBlue was profitable in March, but that "it's challenging to tell whether we'll break even in [the second half of year]." JetBlue now forecasts revenue will be down 6.5% to 10.5% in the second quarter, potentially more than double the analyst estimates of a 3.8% drop. Full-year revenue is expected to fall in the low-single digits compared to prior expectation of flat sales. The airline attributed the setback to "significant elevated capacity" in its flights to Latin America, which accounts for roughly 35% of JetBlue's overall capacity. JetBlue sees those challenges as temporary, however. “[Latin America] is a very strong market for JetBlu
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JBLU
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JBLU
Earnings
- 4/23/24 - Beat
JBLU
Sec Filings
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- JBLU's page on the SEC website