JetBlue Airways (1JAM) Q3 2026 Earnings Report
IT:1JAM Q3 2026 EPS Results
- Actual EPS
- -EUR 0.54
- Consensus EPS
- -EUR 0.49
- Beat/Miss
- Missed by -EUR 0.05
- One Year Ago EPS
- -EUR 0.36
IT:1JAM Q3 2026 Revenue Results
- Actual Revenue
- EUR 2.51B
- Expected Revenue
- EUR 2.53B
- Beat/Miss
- Missed by -EUR 15.58M
- YoY Revenue Growth
- +21.10%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- After Close
- Conference Call
- Tuesday, October 27, 2026
JetBlue Airways's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive. JetBlue reported strong and accelerating revenue performance, resilient demand, progress from JetForward initiatives, margin expansion despite substantially higher fuel prices, strong liquidity, and multiple paths toward operating profitability in 2027 and positive free cash flow and at least $1 of EPS in 2028. The main negatives were severe fuel headwinds, summer weather and air traffic control disruptions, a negative full-year adjusted operating margin outlook, ongoing balance-sheet repair needs, and a supply chain constraint affecting BlueFirst installation.
JetBlue expects fourth quarter RASM to increase 18% to 22% year-over-year and full-year RASM to increase 13.5% to 14.5%; fourth quarter capacity growth is expected at 3% to 4% and full-year growth at 1.5% to 6.5% year-over-year. Fourth quarter CASM-ex fuel is expected between negative 1% and positive 1% year-over-year, with full-year CASM-ex fuel growth of 3.5% to 4.5%, fuel prices of approximately $4.64 per gallon, and 1 to 2 points of year-over-year adjusted operating margin expansion; full-year adjusted operating margin is expected at negative 4.5% to 6.5%. The company expects operating profitability in 2027 and positive free cash flow and at least $1 of earnings per share in 2028, with annual CapEx approximately $850 million and below $1 billion through the end of the decade; if growing mid single digits in 2027, it expects low-single-digit controllable cost growth. BlueFirst is expected to deliver nearly 5 points of RASM improvement with revenue and margin contributions building through 2028 and beyond, Paisly is on track to deliver nearly $100 million in operating income this year with that contribution expected to nearly double by 2028, and the company expects to draw the incremental $250 million available under its aircraft backed financing accordion in the fourth quarter.
- Strong Third-Quarter Unit Revenue GrowthThird-quarter RASM increased 18.4% year-over-year, roughly 4 points better than the midpoint of initial guidance, placing JetBlue among the industry leaders in total and unit revenue growth. Higher yields, supported in part by investments in revenue management technology, drove a majority of the outperformance.
- Resilient Customer Demand and PricingCustomer volumes remained relatively resilient despite higher fares, with no meaningful signs of elasticity. Demand strength was broad based across peak and off-peak periods, and healthy booking trends continued into the fall. JetBlue stated that 93% of its seats were subject to a fare increase, while its September average fare was higher than its July average fare for the first time in the company's history.
- Higher Fuel Cost RecaptureJetBlue achieved 80% recapture of higher fuel costs in the third quarter, compared with its initial expectation of 70% to 80%.
- Four Consecutive Quarters of Improving RASM GrowthJetBlue reported four consecutive quarters of improving year-over-year RASM growth and expects fourth-quarter RASM to increase 18% to 22% year-over-year, representing further acceleration. Full-year RASM growth is now expected to be 13.5% to 14.5%.
- Fort Lauderdale Network ExpansionFort Lauderdale third-quarter RASM increased nearly 15% year-over-year on more than 65% capacity growth. JetBlue expects its seat share to reach approximately 37% in the fourth quarter, up 14 points year-over-year. Co-brand acquisitions in Broward County increased 55% year-over-year in the third quarter.
- Expanded Fort Lauderdale ConnectivityJetBlue added 15 new destinations and increased frequencies to other destinations from Fort Lauderdale. Peak daily departures are expected to exceed 150 this winter, up 39% year-over-year. Two new Colombia destinations brought JetBlue's international network from Fort Lauderdale to 18 destinations.
- BlueFirst Product LaunchBlueFirst domestic first-class seats are on sale across more than 30 routes, with service beginning December 8 between Boston and Fort Lauderdale and additional routes planned in a phased rollout. JetBlue expects BlueFirst to deliver nearly 5 points of RASM improvement, with revenue and margin contributions building through 2028 and beyond.
- Positive Early BlueFirst Customer EngagementEarly BlueFirst bookings indicate demand from existing JetBlue customers, particularly on leisure routes from New York and Boston. Approximately 35% of bookings were award redemptions, and Mosaic members accounted for nearly a quarter of seats booked.
- Revenue Management Technology UpgradeJetBlue completed its transition to a new revenue management system that improves forecasting and enables more sophisticated revenue optimization, including automated management of MIP and connecting itineraries for the first time. Early results were ahead of expectations.
- Loyalty and Premium Revenue GrowthRevenue from JetBlue's premium and partnerships strategy increased 20% in the quarter, the highest growth rate since 2023. Premier Card acquisitions grew 8-fold year-over-year in the third quarter, card spend across the co-brand portfolio grew double digits, and loyalty cash remuneration remained on track for mid-teens growth for the year.
- Record TrueBlue Engagement and Blue House ReceptionJetBlue reported record levels of active TrueBlue members and elite-status qualifications during the quarter. Its newest Blue House in Boston received rave reviews and outstanding NPS results since opening in August.
- Blue Sky Loyalty Collaboration AdoptionMore than 1.1 billion TrueBlue points have been redeemed on United flights since the Blue Sky loyalty assets launched in February.
- Paisly Financial ProgressPaisly delivered its strongest financial result ever in the third quarter. Rental car bookings through MileagePlus travel have outpaced United's previous provider on a per-day basis since launch. Paisly is on track to deliver nearly $100 million in operating income this year, with that contribution expected to nearly double by 2028.
- Margin Expansion Despite Higher FuelJetBlue delivered year-over-year adjusted operating margin improvement in the third quarter and expects 1 to 2 points of further year-over-year adjusted operating margin expansion in the fourth quarter, despite fuel prices expected to be 85% higher than last year.
- Controllable Cost Savings and Improving Cost TrajectoryThe team executed more than $30 million of controllable cost savings in the third quarter through productivity, technology, sourcing, and procurement initiatives. Fourth-quarter CASM-ex fuel is expected to be between negative 1% and positive 1% year-over-year, and JetBlue expects low-single-digit controllable cost growth in 2027 if it grows mid single digits.
- Strong Liquidity and Unencumbered Asset BaseJetBlue ended the quarter with $2.2 billion of liquidity, including a $600 million undrawn credit facility, and approximately $7 billion of unencumbered assets. Unencumbered aircraft and engines were valued at $2.8 billion, up from roughly $2 billion previously.
- Additional Aircraft-Backed Financing AvailabilityJetBlue provided notice to draw the incremental $250 million available under its aircraft-backed financing accordion, with funding expected in the fourth quarter. Management said it has multiple liquidity avenues, including aircraft financing and potential non-debt opportunities.
- Disciplined Capital Expenditure OutlookThird-quarter CapEx was $189 million below the prior outlook, primarily due to the timing of one aircraft delivery and LGA slot payments shifting into the fourth quarter. Full-year CapEx guidance remains approximately $850 million, and annual CapEx is expected to remain below $1 billion through the end of the decade.
- Path Toward Future Profitability and Free Cash FlowJetBlue remains focused on achieving operating profitability in 2027 and positive free cash flow and at least $1 of earnings per share in 2028. Management stated that multiple paths remain available to achieve the 2028 target.
- Network Flexibility and Future Growth OpportunitiesCapacity in the rest of the network is flat to down while fourth-quarter growth is concentrated in Fort Lauderdale. JetBlue expects to backfill some capacity in Boston, New York, and Orlando as aircraft deliveries arrive, and management described San Juan as an area with significant opportunity.
IT:1JAM Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q4) | -0.51- | -0.44 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | -0.49-0.54 | -0.36 | -50.00% (-0.18) | |
| Jul 28, 2026 | 2026 (Q2) | -0.62-0.59 | -0.14 | -312.50% (-0.45) | |
| Apr 28, 2026 | 2026 (Q1) | -0.65-0.78 | -0.53 | -47.46% (-0.25) | |
| Jan 27, 2026 | 2025 (Q4) | -0.41-0.44 | -0.19 | -133.33% (-0.25) | |
| Oct 28, 2025 | 2025 (Q3) | -0.39-0.36 | -0.14 | -150.00% (-0.21) | |
| Jul 29, 2025 | 2025 (Q2) | -0.29-0.14 | 0.07 | -300.00% (-0.21) | |
| Apr 29, 2025 | 2025 (Q1) | -0.57-0.53 | -0.38 | -37.21% (-0.14) | |
| Jan 28, 2025 | 2024 (Q4) | -0.26-0.19 | -0.17 | -10.53% (-0.02) | |
| Oct 29, 2024 | 2024 (Q3) | -0.19-0.14 | -0.35 | 58.97% (+0.21) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
