Yahoo Finance JetBlue (JBLU) Improves Q2 Revenue View on Enhanced Bookings
JetBlue Airways Corporation JBLU updated its guidance for the second quarter of 2021.
The airline continues to expect flown capacity to decline approximately 15% in the second quarter from the comparable period in 2019, per a SEC filing. With air-travel demand still lagging the pre-pandemic levels, the company plans to keep managing capacity on a rolling basis to align its network with demand.
With air-travel demand continually improving, especially on the leisure front, JetBlue has been witnessing improvement in bookings in recent weeks. Consequently, the carrier now anticipates revenues to decline 30-33% in the second quarter from the same period in 2019. This is narrower than the previously guided range of a decrease of 30-35%. The airline, however, gave a heads-up that it believes “demand and revenue recovery may be non-linear.”
JetBlue Airways Corporation Price
JetBlue Airways Corporation price | JetBlue Airways Corporation Quote
Additionally, due to an uptick in fuel prices, JetBlue now estimates total operating expenses to decrease approximately 7% in the second quarter from the comparable period in 2019. Previously, the Long Island City, NY-based carrier predicted the same to decline around 8%.
The company forecasts second-quarter EBITDA in the range of ($115 million) – ($165 million), compared with the past guidance in the band of ($100 million) – ($200 million).
Zacks Rank & Key Picks
JetBlue carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are C.H. Robinson Worldwide CHRW, Expeditors International of Washington EXPD and Covenant Logistics Group CVLG. While Expeditors and Covenant Logistics sport a Zacks Rank #1 (Strong Buy), C.H. Robinson carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of C.H. Robinson, Expeditors and Covenant Logistics have rallied more than 20%, 59% and 66% in a year’s time, respectively.
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JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
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