JetBlue reports Q1 EPS (86c), consensus (73c)

Reports Q1 revenue $2.24B, consensus $2.24B. First quarter 2026 system capacity decreased by 1.7% year-over-year, within our revised guidance range of down 2.0% to down 1.0%. Operating revenue per available seat mile increased 6.5% year-over-year, near the better end of our revised guidance range. Operating expense per available seat mile for the first quarter of 2026 increased 8.3% year-over-year. “We delivered a strong first quarter, with revenue performance exceeding our expectations, driven by resilient consumer demand and an appreciation for JetBlue’s (JBLU) industry-leading customer offering,” said Joanna Geraghty, JetBlue’s chief executive officer. “Demand trends strengthened as the quarter progressed, supporting improved yields, even in the face of a challenging operational environment.” “While the macro environment, particularly fuel, has become more volatile, we are taking decisive actions to manage what is within our control, including adjusting capacity, optimizing revenue, and maintaining disciplined cost control. At the same time, we are seeing clear evidence that JetForward is on track and working, and we remain confident it is the right plan to transform our business and get us closer to our financial priorities. In the near term, we are focused on mitigating the impact of elevated fuel prices, as JetForward continues to position us to restore sustained profitability over the long term.”