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JetBlue Airways
(NASDAQ:JBLU)
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Rating:45Neutral
Price Target:
$3.00
▼(-38.65% Downside)
Action:Reiterated
Date:10/15/26
The score is held down primarily by weak financial performance (ongoing losses, heavy leverage, and negative cash flow) and very bearish technicals (price below all major moving averages with negative MACD). The earnings call provides a partial offset via stronger revenue/unit trends and a credible multi-year improvement plan, but valuation support is limited given losses and no dividend.
Positive Factors
Strong revenue and unit growth
RASM growth indicates JetBlue is improving revenue generation per available seat through stronger demand, pricing, and commercial initiatives. If sustained, this trend can expand the revenue base and provide greater operating leverage as capacity grows over the next several quarters.
Negative Factors
Persistent operating and net losses
JetBlue remains unable to convert improved gross margin and revenue growth into sustainable operating or bottom-line profit. Continued losses reduce internal funding capacity and leave the company dependent on successful execution of its improvement plans to achieve durable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and unit growth
RASM growth indicates JetBlue is improving revenue generation per available seat through stronger demand, pricing, and commercial initiatives. If sustained, this trend can expand the revenue base and provide greater operating leverage as capacity grows over the next several quarters.
Read all positive factors
JetBlue Airways (JBLU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.10B
Dividend YieldN/A
Average Volume (3M)21.83M
Price to Earnings (P/E)―
Beta (1Y)1.99
Revenue Growth3.99%
EPS Growth-119.13%
CountryUS
Employees19,647
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-2.41
Shares Outstanding377,312,200
10 Day Avg. Volume28,768,097
30 Day Avg. Volume21,830,880
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)0.79
Price to Sales (P/S)0.19
P/FCF Ratio-1.38
Enterprise Value/Market Cap8.66
Enterprise Value/Revenue1.00
Enterprise Value/Gross Profit2.14
Enterprise Value/Ebitda34.45
Forecast
1Y Price Target
$4.78Price Target Upside-2.35% Downside
Rating ConsensusHold
Number of Analyst Covering11
EPS Forecast (FY)-2.76
Revenue Forecast (FY)$10.47B
JetBlue Airways Business Overview & Revenue Model
Company Description
JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A220, Airbus A320, Airbus A320 Restyled, Airbus A321, Airbus A321 with Mint, Airbus A321neo, Airbus A321neo with Mint, and Airbus A321neoLR wi...
How the Company Makes Money
JetBlue primarily makes money by selling air transportation to customers, with revenue generated from passenger fares and related charges for travel on its network. Its revenue model combines (1) base ticket sales and fare products (the core of pa...
JetBlue Airways Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Positive
The call conveyed clear positive momentum: strong RASM growth, significant early JetForward EBIT contribution, successful Fort Lauderdale expansion, accelerating loyalty and credit-card metrics, and a restored full-year outlook with a pathway to sustained profitability in 2027 and EPS upside in 2028. However, material near-term headwinds remain — notably volatile fuel prices, July operational disruptions, a still-negative full-year operating margin, and multi-year timing for BlueFirst benefits. Overall, the company presented a constructive narrative of execution and a credible multi-year plan while acknowledging risks tied to fuel and operations.Positive Updates
Strong Revenue Performance (RASM)
RASM increased 10.9% year-over-year in Q2 2026; company reiterates full-year RASM guidance of +10.0% to +12.5% and Q3 RASM guidance of +12.5% to +16.5% year-over-year.
Negative Updates
Fuel Price Volatility and Exposure
Fuel remains highly volatile; management widened operating margin guidance range due to fuel volatility and reduced the Q4 schedule by ~1 point in mid-July in response to rising fuel costs; Q3/full-year fuel forward curve (as of July 10) assumed $3.49/gal.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Performance (RASM)
RASM increased 10.9% year-over-year in Q2 2026; company reiterates full-year RASM guidance of +10.0% to +12.5% and Q3 RASM guidance of +12.5% to +16.5% year-over-year.
Read all positive updates
Company Guidance
JetBlue provided detailed near‑ and longer‑term guidance: Q3 capacity +3% to +6% YoY with RASM +12.5% to +16.5% YoY and Q3 CASM ex‑fuel +2.5% to +4.5% YoY; full‑year capacity +1.5% to +3.5% and RASM +10% to +12.5% with FY CASM ex‑fuel +2% to +4% (Q2 CASM ex‑fuel was +2.4%, ~1.5 points better than the midpoint). Using the July‑10 forward curve, fuel is modeled at $3.49/gal for Q3 and the full year; JetBlue recaptured nearly 50% of higher fuel costs in Q2 (vs. a 40% target) and expects 100% fuel recapture by early 2027 if demand persists. They now expect full‑year operating margin of roughly ‑2% to ‑5% (midpoint implying ~3.5 points of H2 YoY improvement) and RASM to exceed CASM ex‑fuel by 10+ points in H2. JetForward delivered $165M incremental EBIT in H1 (cumulative $470M), with at least $310M expected in 2026, $850–$950M in 2027 and ~ $1.2B run‑rate into 2028 supporting at least $1 EPS in 2028 (assumes $3/gal fuel); BlueFirst is expected to drive ~5 points of RASM at run rate with most retrofits done by end‑2027 and full contribution into 2028. CapEx is about $300M in Q3 and ~$850M for 2026 (12 aircraft deliveries), annual CapEx expected under $1B through the decade; liquidity ended the quarter at ~$2.2B (~23% of TTM revenue) with a $600M undrawn facility, a $500M aircraft financing executed at ~6.5% (accordion $250M) and a weighted‑average cost of debt ~6.8%.JetBlue Airways Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
23
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.50B | 9.06B | 9.28B | 9.62B | 9.16B | 6.04B |
| Gross Profit | 4.45B | 3.07B | 2.29B | 2.32B | 1.97B | 890.00M |
| EBITDA | 276.00M | 494.00M | 562.00M | 588.00M | 400.00M | -373.00M |
| Net Income | -886.00M | -602.00M | -795.00M | -310.00M | -362.00M | -182.00M |
Balance Sheet | ||||||
| Total Assets | 16.37B | 18.63B | 16.84B | 15.33B | 14.45B | 14.85B |
| Cash, Cash Equivalents and Short-Term Investments | 2.02B | 2.26B | 3.61B | 1.57B | 1.39B | 2.84B |
| Total Debt | 9.39B | 10.26B | 9.14B | 5.93B | 4.38B | 4.80B |
| Total Liabilities | 14.78B | 16.51B | 14.20B | 11.99B | 10.88B | 11.00B |
| Stockholders Equity | 1.59B | 2.12B | 2.64B | 3.34B | 3.56B | 3.85B |
Cash Flow | ||||||
| Free Cash Flow | -1.13B | -1.22B | -1.48B | -806.00M | -544.00M | 647.00M |
| Operating Cash Flow | -128.00M | -94.00M | 144.00M | 400.00M | 379.00M | 1.64B |
| Investing Cash Flow | -48.00M | 658.00M | -3.08B | -1.38B | -908.00M | -704.00M |
| Financing Cash Flow | -275.00M | -417.00M | 3.77B | 1.11B | -360.00M | -830.00M |
JetBlue Airways Technical Analysis
Negative
4.89
Price Trends
4.28
Negative
4.92
Negative
4.99
Negative
Market Momentum
-0.46
Positive
16.40
Positive
9.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JBLU, the sentiment is Negative. The current price of 4.89 is above the 20-day moving average (MA) of 3.64, above the 50-day MA of 4.28, and below the 200-day MA of 4.99, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 16.40 is Positive, neither overbought nor oversold. The STOCH value of 9.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JBLU.
JetBlue Airways Risk Analysis
JetBlue Airways disclosed 40 risk factors in its most recent earnings report. JetBlue Airways reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
JetBlue Airways Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $50.44B | 15.41 | 15.40% | 1.04% | 14.11% | -29.50% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $31.73B | 9.30 | 21.81% | ― | 12.31% | ― | |
58 Neutral | $19.40B | 18.90 | 14.39% | 1.81% | 9.46% | 137.74% | |
46 Neutral | $8.10B | -24.97 | 8.29% | 1.41% | 7.53% | -157.37% | |
46 Neutral | $1.16B | -2.98 | -120.34% | ― | 9.95% | -1057.36% | |
45 Neutral | $1.10B | -1.22 | -45.51% | ― | 3.99% | -119.13% |
* Industrials Sector Average
JBLU
JetBlue Airways
2.93
-1.64
-35.89%
DAL
Delta Air Lines
77.67
19.52
33.57%
LUV
Southwest Airlines
39.88
8.79
28.25%
UAL
United Airlines Holdings
101.67
5.99
6.26%
AAL
American Airlines
12.24
-0.54
-4.19%
ULCC
Frontier Group Holdings
5.04
0.88
21.15%
JetBlue Airways Corporate Events
Business Operations and StrategyFinancial Disclosures
JetBlue Raises Revenue Outlook Despite Cost Headwinds
Positive
Sep 10, 2026
JetBlue reported that travel demand remained strong throughout the third quarter of 2026, with healthy bookings across peak and off-peak periods and no meaningful signs of price elasticity. Early fourth-quarter booking trends were also encouraging...
Executive/Board ChangesRegulatory Filings and Compliance
JetBlue Airways Announces Icahn Group Board Resignations
Neutral
Aug 27, 2026
On August 21, 2026, JetBlue Airways was informed by a representative of the Icahn Group that the Group’s ownership had fallen below the threshold granting it the right to appoint two directors under a February 16, 2024 Director Appointment a...
Business Operations and StrategyFinancial Disclosures
JetBlue Highlights Strong Q2 Results and JetForward Progress
Positive
Jul 28, 2026
On July 28, 2026, JetBlue reported second-quarter 2026 results showing a 14.5% year-over-year rise in operating revenue to $2.7 billion and a 10.9% increase in RASM, aided by strong demand and commercial initiatives under its JetForward transforma...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.