JetBlue Raises Q4 Revenue Outlook; Non-fuel Unit Costs To Improve

(RTTNews) - JetBlue (JBLU) issued an updated investor guidance for the fourth quarter and full year ending December 31, 2024. The company now expects fourth quarter revenue to decline 5.0% - 2.0%, revised from prior guidance range of a decline of 7.0% - 3.0%. Capacity, measured in Available Seat Miles, is now projected to decline in a range of 6.5% - 4.5%, revised from prior guidance of a decline in a range of 7.0% - 4.0%.

The company now estimates fiscal 2024 revenue to decline in a range of 4.5% - 3.5%, revised from prior guidance range of a decline of 5.0% - 4.0%. Capacity is now projected to decline in a range of 4.0% - 3.0%, updated from prior guidance range of a decline of 4.5% - 2.5%.

JetBlue noted that its fourth quarter non-fuel unit costs are expected to improve versus prior guidance. Fuel price has declined since the start of the fourth quarter, further improving projected operating expenses.

The company said the fourth quarter revenue headwind from the election is now estimated to be 0.5 points compared to the previous forecast of 1.0 point. For travel in December, in-quarter bookings have exceeded prior expectations in both peak and off-peak travel periods.

Shares of JetBlue are up 6% in pre-market trade on Wednesday.