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JetBlue Airways Shares Witness Over 10% Drop On Disappointing Annual Outlook
JetBlue Airways Corporation (NASDAQ:JBLU) stock tumbled on Tuesday after the company announced a gloomy outlook.
The air carrier reported a first-quarter adjusted EPS loss of 43 cents. It beat the consensus loss of 52 cents, up from a loss of 34 cents a year ago.
The company reported sales of $2.21 billion, down 5% Y/Y, almost in line with the consensus of $2.205 billion. The first quarter of 2024 saw a 2.7% Y/Y decrease in capacity.
Operating expenses for the quarter increased by 14% to $2.9 billion, with operating expenses per available seat mile (CASM) ...