Q3 revenue rose 21.1% YoY to $2.812B as resilient demand and higher yields lifted RASM 18.4%; adjusted operating margin improved to -3.9% from -4.1%.
GAAP net loss widened to $257M from $143M amid sharply higher fuel costs and operational disruptions.
Operating profitability is targeted for 2027; 2028 goals include positive free cash flow and at least $1.00 EPS, with JetForward targeting ~$1.2B incremental EBIT.
Q3 operating revenue was $2.812B, up 21.1% YoY; passenger revenue rose 21.8% to $2.600B and other revenue increased 13.4% to $212M.
GAAP operating loss was $144M versus $100M, and net loss was $257M versus $143M; diluted loss per share was $0.68 versus $0.39.
Excluding special items and investment gains, Q3 net loss was $226M and diluted loss per share was $0.60; adjusted operating margin was -3.9% versus -4.1%.
Operating expenses rose 22.1% to $2.956B; fuel expense increased 61.0% to $868M and salaries, wages and benefits grew 9.4% to $946M.
9M revenue rose 13.7% to $7.749B; net loss widened to $823M from $425M and adjusted net loss was $795M versus $412M.
4Q26 guidance: ASMs +3.0%–4.0% YoY, RASM +18.0%–22.0%, CASM ex-fuel -1.0% to +1.0%, and fuel at $4.64 per gallon; FY26 guidance: ASMs +1.5%–2.5%, RASM +13.5%–14.5%, CASM ex-fuel +3.5%–4.5%.
Adjusted operating margin is expected to expand 1–2 points YoY in 4Q despite fuel prices up 85%; FY26 adjusted operating margin outlook is -4.5% to -6.5%.
Management targets operating profitability in 2027 and positive free cash flow plus at least $1.00 EPS in 2028; 2028 EPS target assumes $3.00/gal average jet fuel.
JetForward targets $850M–$950M annual incremental EBIT in 2027 and ~$1.2B in 2028; 2026 incremental EBIT target is at least $310M.
2027–28 targets include low-to-mid-single-digit annual ASM growth, mid-single-digit RASM growth and low-single-digit CASM ex-fuel growth; annual capital spending is expected below $1B through decade-end.
AI chat
)
Automations
)
)
Live audio & transcripts
)
)
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
)
JetBlue Airways Corporation, written and stylized as jetBlue, is an American low-cost commercial airline company with domestic and international flight routes. The company operates over 1,000 flights daily and has roughly 100 destinations spread out across the Americas and Europe. The company is headquartered in NYC but also has regional offices in Utah and Florida. JetBlue’s shares are traded on the Nasdaq.
JetBlue Airways was founded as NewAir in 1998 by David Neeleman, aiming to bring innovation and competition to the US airline industry. The airline commenced operations in 2000, differentiating itself with amenities like in-flight entertainment in every seat and no overbooking policy. Strategically choosing John F. Kennedy International Airport (JFK) as its primary hub, JetBlue began with routes connecting JFK to Florida and California. Over the next decade, the airline saw consistent growth, expanding its route network across the U.S., the Caribbean, and South America. In a similar manner to how Southwest operates, the company aimed to compete with large carriers like American Airlines and Delta by offering cheaper flights to popular destinations.
JetBlue Airways operates a diverse network of flights, spanning both domestic and international markets. Within the U.S., the airline connects major metropolitan areas, regional hubs, and smaller cities. Expanding beyond its domestic routes, JetBlue has established services to destinations in the Caribbean, Central and South America, and certain European locations.
JetBlue Airways adopts a hybrid business model that merges elements from both traditional network carriers and low-cost carriers. Central to its strategy is the emphasis on providing competitive fares while offering several value-added services, including in-flight entertainment and more generous legroom in coach relative to some rivals. Looking to expand its reach, the airline has engaged in partnerships and code-sharing agreements with multiple international carriers.
)