JetBlue Airways Corporation (NASDAQ:JBLU) has released its earnings report for the third quarter of 2016.
Here are a few things to know about JetBlue Airways Corporation’s earnings report for the third quarter of 2016.
- JBLU reported revenue of $1.73 billion for the quarter.
- Revenue reported by the company during the same time of last year was $1.68 billion.
- Wall Street analysts were expecting the company to report revenue of $1.72 billion in the third quarter of the year.
- JetBlue Airways Corporation reported earnings per share of 58 cents for the quarter.
- The airline company reported the same earnings per share in the third quarter of 2015.
- JBLU’s earnings per share for the quarter missed analysts’ estimate by two pennies.
- Net income reported by JetBlue Airways Corporation during the quarter was $199 million.
- This is a slight increase over the net income of $198 million that the company reported in the third quarter of 2015.
- Operating expenses for the third quarter of 2016 were up 3% from the same time in the prior year.
- Interest expense during the quarter decreased by 10.2% due to JBLU reducing the amount of debt it has.
- The company paid off $61 million in regularly scheduled debt and capital lease obligations during the quarter.
- JetBlue is expecting cost per available seat mile to increase between 4.5% and 6.5% for the fourth quarter of 2016.
- It also expects cost per available seat mile for the full year of 2016 to be up by 0.0% to 1.5% from the full year of 2015.
- Capacity for the fourth quarter of the year is expected to be up between 3.0% and 5.0%.
- JBLU is expecting capacity to increase by 8.5% to 9.0% for 216.
JBLU stock was down 2% as of Noon Tuesday.
