JetBlue 39 Mil 3rd Quarter profit misses

RiddleEagle18

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Missed estimates by 2 cents a share.

JetBlue Airways Corp.'s (JBLU) third-quarter earnings slumped 41% as the budget carrier struggled under a sharp increase in its fuel costs and took a hit from Hurricane Irene, masking a jump in traffic.
Rising traffic and higher fares and fees offered broad support for airlines in the third quarter, already a strong period seasonally. JetBlue has steadily reported higher traffic for the last two years, although it booked a slower pace in August after Hurricane Irene forced the airline to cancel roughly 1,400 flights. Wednesday, the company said the hurricane reduced its operating profit in the latest period by roughly $8 million.
Like its fellow carriers, JetBlue continues to face high fuel costs, a headwind that has trimmed profit across the airline industry. For the third quarter, JetBlue's fuel expense increased $162 million from a year earlier.
JetBlue posted a profit of $35 million, or 11 cents a share, compared with $59 million, or 18 cents a share, a year earlier. Excluding a loss related to the early extinguishment of debt, JetBlue reported earnings of 12 cents. Analysts polled by Thomson Reuters expected 13 cents.
Operating revenue rose 16% to $1.2 billion, matching analysts' expectations. Operating expenses jumped 22%, driven primarily by the rising fuel expense.
Traffic climbed 8.2% from a year earlier, while capacity grew by 8.3%. Load factor, the percentage of available seats filled, edged down to 84.5% from 84.6%.
Passenger revenue per available seat mile, an industry performance measure, jumped 7.7%, in line with the company's predictions for 6% to 8% growth over last year.
Shares closed Tuesday at $4.36 and were inactive premarket. The stock is down 34% since the start of the year.
 

Fins Up

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Missed by 2 cents. I'm sure that will cut our already pathetic stock price in half in trading today.
 

Fubijaakr

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Enough
A profit is a profit. At least you're not losing money like SWA and AA.
 

Fins Up

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Indeed.
 
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