NASDAQ$JBLU
JetBlue Airways Corp · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported a GAAP loss per share of ($0.97) and total operating revenues of $1,588 million.
JetBlue Airways Corporation reported its Q1 2020 results, which were negatively impacted by COVID-19. The company reported a GAAP loss per share of ($0.97). Total operating revenues were $1,588 million, a 15.1% decrease year over year. JetBlue is focused on preserving liquidity, reducing operating expenses, and managing capital expenditures.
- Reported GAAP loss per share of ($0.97) in the first quarter of 2020 compared to a diluted earnings per share of $0.14 in the first quarter of 2019.
- First quarter 2020 revenue declined 15.1% year over year as a result of a 52% decline in March revenue due to the impact of COVID-19.
- Increased cash, cash equivalents and short-term investments from $1.3 billion at the end of 2019 to approximately $1.8 billion at end of first quarter of 2020.
- JetBlue expects to reduce its daily cash burn from an average of $18 million in the second half of March to just below $10 million in May, excluding the CARES Act support of approximately $5 million per day through the end of the third quarter.
Headline financials
Revenue & EPS history
JetBlue · Revenue · Quarterly
$1.59B
Revenue by segment
JetBlue · $1.59B total across 2 segments · Q1 2020
- Passenger$1.51B—95.2%
- Other$77M—4.8%
Forward guidance
JetBlue expects capacity to be down about 80% compared to its original plan for the second quarter of 2020. By the end of May, the company anticipates it will have lowered its operating expenses by approximately 50% year over year. JetBlue expects to reduce its daily cash burn to just below $10 million in May, excluding CARES Act support.
Tailwinds
- Expects to have a better sense of third and the fourth quarter of 2020 by early summer.
- Believes inherent strengths as a trusted brand with an unparalleled culture and superior product will serve them well.
- Plans to continue to be thoughtful as they adapt to changing customer needs.
- Liquidity position reached $3.1 billion by the close of April.
- Lowered cash burn from an average of $18 million per day during the second half of March, to just under $10 million per day by May, excluding proceeds from the Payroll Support Program.
Headwinds
- Overall number of bookings remained extremely limited.
- Working assumption for the second quarter is for capacity to be down about 80% compared to original plan.
- Revenue declined 15.1% year over year.
- March capacity declined 19% year over year.
- GAAP pre-tax loss of ($354) million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
-2.3%
Avg return
Earnings day
-2.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
40%
27 / 68 earnings
Positive
+13.3%
Q1 2020
Best reaction
-25.7%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.8% | -1.6% | +8.7% | |
| Q4 2025 | -6.1% | -4.1% | +14.2% | |
| Q3 2025 | -12.3% | -11.0% | -4.2% | |
| Q1 2025 | +2.7% | +17.0% | +24.3% | |
| Q4 2024 | -25.7% | -18.7% | -19.7% | |
| Q3 2024 | -23.1% | -21.2% | -18.6% | |
| Q2 2024 | +8.1% | -6.2% | -15.9% | |
| Q1 2024 | -21.3% | -23.0% | -25.4% | |
| Q4 2023 | -3.5% | +4.4% | +17.8% | |
| Q3 2023 | -12.1% | +4.5% | +5.2% | |
| Q2 2023 | -11.2% | -14.0% | -23.8% | |
| Q1 2023 | +0.9% | +4.7% | +0.1% | |
| Q4 2022 | -5.2% | -4.9% | -3.1% | |
| Q3 2022 | -1.1% | +2.9% | +5.2% | |
| Q2 2022 | +0.0% | +1.0% | -10.4% | |
| Q1 2022 | -14.0% | -15.7% | -18.8% | |
| Q4 2021 | +2.9% | +10.1% | +14.9% | |
| Q3 2021 | -4.4% | -4.8% | -1.9% | |
| Q2 2021 | -4.7% | -8.0% | -5.6% | |
| Q1 2021 | -2.7% | -1.0% | -0.1% | |
| Q4 2020 | -2.3% | -1.7% | +25.5% | |
| Q3 2020 | -11.5% | -4.7% | +26.0% | |
| Q2 2020 | -2.7% | +1.1% | +13.4% | |
| Q1 2020 | +13.3% | +0.5% | +70.7% | |
| Q4 2019 | +4.3% | +2.4% | +4.1% | |
| Q3 2019 | +7.8% | +7.1% | +6.3% | |
| Q2 2019 | +3.2% | +2.2% | -5.0% | |
| Q1 2019 | +8.1% | +7.7% | +4.5% | |
| Q4 2018 | +2.7% | +5.1% | -0.1% | |
| Q3 2018 | -4.5% | -1.8% | +8.9% | |
| Q2 2018 | -13.1% | -8.9% | -4.6% | |
| Q1 2018 | -3.7% | -3.2% | -4.4% | |
| Q4 2017 | -7.0% | -6.3% | -3.3% | |
| Q3 2017 | -0.8% | -2.5% | +0.1% | |
| Q2 2017 | -3.0% | -3.1% | -15.0% | |
| Q1 2017 | +2.3% | +0.4% | +4.9% | |
| Q4 2016 | -9.7% | -9.9% | -10.1% | |
| Q3 2016 | -6.4% | -7.9% | +11.9% | |
| Q2 2016 | +7.4% | +6.1% | -7.3% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +0.3% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | +2.6% | — | — | |
| Q1 2015 | +5.2% | — | — | |
| Q4 2014 | +6.5% | — | — | |
| Q3 2014 | -2.0% | — | — | |
| Q2 2014 | +1.2% | — | — | |
| Q1 2014 | -7.8% | — | — | |
| Q4 2013 | +2.8% | — | — | |
| Q3 2013 | -4.2% | — | — | |
| Q2 2013 | -1.7% | — | — | |
| Q1 2013 | -3.6% | — | — | |
| Q4 2012 | +1.0% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q2 2012 | -1.3% | — | — | |
| Q1 2012 | -0.2% | — | — | |
| Q4 2008 | -1.2% | — | — | |
| Q4 2011 | -1.2% | — | — | |
| Q3 2011 | +3.5% | — | — | |
| Q2 2011 | -3.4% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2010 | +0.9% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q3 2009 | +1.0% | — | — | |
| Q4 2009 | -1.9% | — | — | |
| Q2 2009 | -1.9% | — | — | |
| Q2 2010 | -1.9% | — | — | |
| Q1 2010 | -0.9% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro