JetBlue Incurs Loss in Q3, Tops on Revenues, Tweaks 2024 View

JetBlue Airways Corporation JBLU reported third-quarter 2024 loss (excluding one cent per share from non-recurring items) of 16 cents per share, narrower than the Zacks Consensus Estimate of a loss of 26 cents. In the year-ago quarter, JBLU reported a loss of 39 cents.Find the latest EPS estimates and surprises on ZacksEarnings Calendar.Operating revenues of $2.36 billion beat the Zacks Consensus Estimate of $2.34 billion and increased 0.5% year over year. Passenger revenues, accounting for the bulk of the top line (92.9%), declined 0.1% to $2.19 billion. Other revenues rose 9.8% year over year to $167 million.JetBlue Airways Corporation Price, Consensus and EPS Surprise JetBlue Airways Corporation price-consensus-eps-surprise-chart | JetBlue Airways Corporation QuoteOther Q3 DetailsRevenue per available seat mile (RASM: a key measure of unit revenues) grew 4.3% year over year to 14.13 cents. Passenger revenue per available seat mile grew 3.6% year over year to 13.13 cents. The average fare at JetBlue increased 2.8% year over year to $207.46. The yield per passenger mile rose 1.9% year over year.Consolidated traffic (measured in revenue passenger miles) declined 1.9% year over year. Capacity (measured in available seat miles) dropped 3.6% year over year. Consolidated load factor (percentage of seats filled by passengers) improved 1.5 percentage points to 86.6% as the traffic decline was less than the capacity reduction. Our estimate for load factor is pegged at 83.2%.Total operating costs (on a reported basis) declined 4.2% year over year to $2.40 billion. Expenses on salaries, wages and benefits increased 4.7% year over year. Expenses onaircraft fuel declined 16.8% year over year.The average fuel price per gallon (including related taxes) was $2.67, down 12.2% year over year. The reported figure was below the company guided range of $2.70-$2.80.JBLU’s operating expenses per available seat mile (CASM) decreased 0.7% year over year. Excluding fuel, CASM rose 4.8% to $10.62.OutlookFor fourth-quarter 2024, capacity is anticipated to decline in the 4-7% band. CASM, excluding fuel and special items, is predicted to climb 13-15%. Capital expenditures are expected to be roughly $450 million.  Total revenues are forecasted to tumble in the range of 3-7%. The average fuel cost per gallon is estimated to be between $2.50 and $2.65.For 2024, capacity is now envisioned to be down in the 2.5-4.5% range (prior view: down 2.5-5%). CASM, excluding fuel and special items, is predicted to be up in the 7%-8% range (prior view: up 6.5-8.5%). Total revenues are forecasted to tumble in the range of 4-5% (prior view: down 4-6%). The average fuel cost per gallon is estimated to be between $2.75 and $2.80 (prior view: $2.80-$3.00).Capital expenditures are expected to be roughly $1.6 billion. JBLU’s Zacks Rank & Price PerformanceCurrently, JBLU carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company’s shares gained 28.9% over the past six months, outperforming the 10.5% rise of the industry it belongs to.Six-Month Price ComparisonImage Source: Zacks Investment ResearchPerformances of Other Transportation CompaniesDelta Air Lines (DAL) reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis, mainly due to high labor costs.Revenues of $15.68 billion surpassed the Zacks Consensus Estimate of $15.37 billion and increased 1.2% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.59 billion, flat year over year.J.B. Hunt Transport Services, Inc. (JBHT) third-quarter 2024 earnings of $1.49 per share outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.Total operating revenues of $3.07 billionsurpassed the Zacks Consensus Estimate of $3.04 billion but fell 3% year over year. The downfall was owing to a 5% and 6% decrease in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decline in load volume of 10% and 6% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), respectively, and 6% fewer stops in Final Mile Services (FMS). These were partially offset by JBI load growth of 5%, which included growth in both the transcontinental and eastern networks and a 3% increase in revenue per load in ICS. Total operating revenue, excluding fuel surcharge revenue, decreased less than 1% from the year-ago reported quarter.United Airlines Holdings, Inc. (UAL) reported third-quarter 2024 EPS (excluding 43 cents from non-recurring items) of $3.33, which surpassed the Zacks Consensus Estimate of $3.10. Earnings decreased 8.8% on a year-over-year basis.Operating revenues of $14.84 billion beat the Zacks Consensus Estimate of $14.76 billion. The top line increased 2.5% year over year due to upbeat air-travel demand. This was driven by a 1.6% rise in passenger revenues (which accounted for 91.3% of the top line) to $13.56 billion. Almost 45,559 passengers traveled on UAL flights in the third quarter, up 2.7% year over year.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report JetBlue Airways Corporation (JBLU): Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks