Why JetBlue Airways Shares Are Falling Today
Portfolio Pulse from Akanksha Bakshi
JetBlue Airways Corp (NASDAQ:JBLU) reported Q2 FY23 operating revenue growth of 6.7% YoY to $2.61 billion, in line with consensus estimates. Adjusted EPS was $0.45, above the consensus of $0.40. Operating expenses declined 7.2% YoY to $2.38 billion. The company ended the quarter with $1.8 billion in cash and equivalents. However, the company expects Q3 revenue to decline between 8.0% and 4.0% and adjusted EPS of $(0.20)-$0.00 versus $0.40 estimate. The company's shares are trading lower by 8.3% at $7.13.
August 04, 2023 | 9:13 am
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NEGATIVE IMPACT
Despite reporting a growth in Q2 FY23 revenue and a higher than expected EPS, JetBlue's shares fell due to a negative outlook for Q3, with expected decline in revenue and EPS.
JetBlue's Q2 FY23 results were positive with revenue growth and higher than expected EPS. However, the company's negative outlook for Q3, including expected decline in revenue and EPS, has led to a decrease in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100