JetBlue Meets Profit And Revenue Estimates, Buoyed By Lower Fuel Costs

JetBlue Airways Corp. said it had net income of $152 million, or 44 cents a share, in the second quarter, down from $230 million, or 68 cents a share, in the year-earlier period. Revenue climbed to $1.6 billion from $1.5 billion. The figures matched the FactSet consensus on both counts. Revenue passenger miles rose 8.7% to 10.6 billion, as capacity increased 8.5%, yielding a second-quarter load factor of 85.6%, or 1 point above the year-earlier period. Costs per available seat mile (CASM) fell 8.6% to 10.86 cents, but were up 0.6% excluding fuel and profit sharing. The company is expecting CASM excluding fuel and profit sharing to rise 1% to 3% in the third quarter and 1.5% for the full year. Capacity is expected to increase by 8.5% to 10.5% in the third quarter, and by 7% to 9% for the full year. Shares were not yet active in premarket trade, but are up 41% in the year so far, while the S&P 500 has gained 0.4%.