JBLU Q3 2025 Earnings

Call Details

• Call Title: JetBlue Airways Corporation Q3 2025 Earnings Call
• Date: October 28, 2025 at 2:00 PM UTC
• Management Team:
  • Joanna Geraghty (Chief Executive Officer)
  • Marty St. George (President)
  • Ursula Hurley (Chief Financial Officer)
  • Koosh Patel (Director of Investor Relations)

Call Summary

Financial Performance

• The company ended the quarter with an operating margin three points better than what was implied by July guidance ranges.
• Completed capacity growth for the quarter was 0.9%, which management stated was above the midpoint of revised guidance.
• CASM ex-fuel for the quarter was up 3.7% year-over-year.
• Unit revenues ended the quarter down 2.7% year-over-year.
• TrueBlue revenue was up 12% year-over-year and co-brand remuneration was reported up 16% year-over-year.
• JetBlue stated it is on track to generate a cumulative $290M of incremental EBIT this year from JetForward initiatives.
• The company reiterated a 2027 target range of $850M to $950M of incremental benefit from JetForward.

Guidance

• For the fourth quarter, the company expects unit revenues to be between flat and down 4% year-over-year.
• Fourth-quarter CASM ex-fuel growth is expected to be up 3% to 5%.
• The full-year CASM ex-fuel guidance was tightened from up 5%–7% to up 5%–6% year-over-year, lowering the midpoint by 0.5 percentage points.
• Third-quarter fuel averaged $2.49 and fourth-quarter fuel is expected to be between $2.33 and $2.48 based on the forward curve as of October 10th.
• The fourth-quarter capacity commentary referenced capacity of 'up to three-quarters of the midpoint' as the planning assumption.
• As part of 2026 budgeting, the company intends to target unit costs in the low single digits supported by low to mid single-digit capacity growth.
• The company stated its intention to build a 2026 plan that gets to break-even or better operating margin and will provide more detail on the January call.