JetBlue Stock Tumbles 16% As Near-Term Headwinds Hurt Outlook

Seeking Alpha2023-10-31

JetBlue shares plunged as much as 16% in morning trading on Tuesday after the airline company updated its full year 2023 outlook to reflect near-term headwinds.The low-cost airline now expects a full ...

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We remain focused on controlling what we can control, including our structural cost program and fleet modernization plans,\" said CFO Ursula Hurley.The company noted that industry capacity is outpacing domestic demand during off peak travel periods, with Q4 growth likely to be driven primarily by international.For Q4, revenue is estimated to fall (10.5%) - (6.5%) Y/Y, while adjusted losses are seen between ($0.55) and ($0.35) vs. -$0.15 consensus.JetBlue failed to meet analysts expectations with its Q3 report, owing to significant weather-related impacts and rising fuel prices. Operating revenue of $2.4B was down 8.2% year-over-year. 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