JetBlue Expects Q3 Revenue To Decline (5.5%) - (1.5%) Y/Y; Now Sees FY24 Revenue To Decline (6.0%) - (4.0%) Vs Prior Forecast Of Down Low Single Digits
Portfolio Pulse from Benzinga Newsdesk
JetBlue expects Q3 revenue to decline between 5.5% and 1.5% year-over-year and FY24 revenue to decline between 6.0% and 4.0%, revising its prior forecast of a low single-digit decline. The company is focusing on profitability and expects revenue initiatives and normalization of competitive capacity to support top-line growth. Despite unit cost headwinds, JetBlue maintains its full-year CASM-ex Fuel guidance.
July 30, 2024 | 10:15 am
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JetBlue has revised its FY24 revenue forecast to a decline of 6.0% - 4.0% from a prior forecast of a low single-digit decline. The company is focusing on profitability and expects revenue initiatives and normalization of competitive capacity to support top-line growth. Despite unit cost headwinds, JetBlue maintains its full-year CASM-ex Fuel guidance.
The downward revision in revenue forecasts for both Q3 and FY24 indicates potential challenges in achieving profitability, which could negatively impact investor sentiment and short-term stock price. However, the company's focus on profitability and maintaining cost guidance may provide some support.
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