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Jetblue Airways Corp (JBLU) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Jetblue Airways Corp

CIK: 1158463 Ticker: JBLU



JETBLUE ANNOUNCES THIRD QUARTER 2018 RESULTS

NEW YORK (October 23, 2018)
-- JetBlue Airways Corporation (NASDAQ: JBLU) today reported its results for the third quarter 2018:

Reported diluted earnings per share of $0.16, inclusive of $112 million in one-time costs related to the E190 fleet transition and the recently-signed pilot contract. Excluding these costs, adjusted diluted earnings per share of $0.43(1). This compares to JetBlue’s third quarter 2017 diluted earnings per share of $0.55.

GAAP pre-tax income of $68 million. Excluding the one-time costs, adjusted pre-tax income of $180 million(1), a decrease of 39.5% from the third quarter of 2017.

Pre-tax margin of 3.4%, inclusive of the one-time costs. Excluding these one-time costs, adjusted pre-tax margin of 9.0%(1), a 7.4 point decrease year over year.

Highlights from the Third Quarter 2018

Third quarter 2018 revenue per available seat mile (RASM) increased 1.7%, year over year, including 0.4 points of negative impact from severe weather during September.

Operating expenses per available seat mile, excluding fuel (CASM ex-fuel) growth of 3.2%, at the lower end of the updated guidance range of 3.0% to 5.0%. CASM ex-fuel for the third quarter includes a 2.0 point headwind related to recurrent costs of the pilot contract, effective as of August 1st.


Key Guidance for the Fourth Quarter and Full Year 2018:

Capacity is expected to increase between 7.5% and 9.5% year over year in the fourth quarter 2018. The fourth quarter guidance includes a previously-announced 2.0 point ASM reduction to mitigate the impact of higher fuel prices. For the full year 2018, JetBlue expects capacity to increase between 6.5% and 7.0%.

RASM growth is expected to range between 1.0% and 4.0% for the fourth quarter 2018 compared to the same period in 2017.

CASM ex-fuel is expected to decrease between (3.5)% and (1.5)% for the fourth quarter of 2018. CASM ex-fuel for the fourth quarter includes a 3.0 point headwind related to the pilot contract. For the full year 2018, JetBlue expects year over year CASM ex-fuel to be between 0.75% and 1.75%. The headwind from the pilot contract to CASM ex-fuel for the full year 2018 is expected to be equal to 1.3 points.

For further details see the latest Investor Update and the Third Quarter 2018 Earnings Presentation available via the internet at http://investor.jetblue.com.

JetBlue will conduct a conference call to discuss its quarterly earnings today, October 23, at 10:00 a.m. Eastern Time. A live broadcast of the conference call will also be available via the internet at http://investor.jetblue.com.



(1) Note A provides a reconciliation of non-GAAP financial measures used in this release and provides the reasons management uses those measures.

The following information was filed by Jetblue Airways Corp (JBLU) on Tuesday, October 23, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Jetblue Airways Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Accumulated Other Comprehensive Income (Loss) (Details)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Commitments And Contingencies (Details)
Commitments And Contingencies (Notes)
Comprehensive Income (Details)
Comprehensive Income (Notes)
Comprehensive Income (Tables)
Earnings Per Share (Details)
Earnings Per Share (Notes)
Earnings Per Share (Tables)
Employee Retirement Plan (Details)
Employee Retirement Plan (Notes)
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Notes)
Fair Value Of Financial Instruments (Tables)
Financial Derivative Instruments And Risk Management (Details 2)
Financial Derivative Instruments And Risk Management (Details 4)
Financial Derivative Instruments And Risk Management (Details)
Financial Derivative Instruments And Risk Management (Notes)
Financial Derivative Instruments And Risk Management (Tables)
Financial Derivative Instruments And Risk Management - Hedging Effectiveness (Details 3)
Long-Term Debt And Short-Term Borrowings (Details)
Long-Term Debt And Short-Term Borrowings (Notes)
Long-Term Debt And Short-Term Borrowings (Tables)
Long-Term Debt And Short-Term Borrowings Short-Term Borrowings (Details)
Long-Term Debt And Short-Term Borrowings Short-Term Borrowings (Policies)
Revenue Recognition (Details)
Revenue Recognition (Notes)
Revenue Recognition (Tables)
Revenue Recognition Loyalty Programs (Policies)
Revenue Recognition Passenger Revenues (Policies)
Special Items (Details)
Special Items (Notes)
Special Items (Tables)
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Notes)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Held-To-Maturity Gains (Loss) (Details)
Ticker: JBLU
CIK: 1158463
Form Type: 10-Q Quarterly Report
Accession Number: 0001158463-18-000090
Submitted to the SEC: Fri Oct 26 2018 4:00:33 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Air Transportation Scheduled

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