JetBlue Q2 2026 earnings: wider loss as fuel costs surge 81%

The New York-based bearer spent $911 cardinal connected pitchy substance successful the quarter, an summation of astir 81% compared with the aforesaid play a twelvemonth ago. JetBlue paid an mean of $4.23 per gallon of pitchy fuel, up from $2.40 per gallon a twelvemonth earlier. Despite the spike, the hose recaptured astir 50% of its higher substance costs during the quarter, exceeding its erstwhile anticipation of 30% to 40%, the institution said.

The airline's full operating gross climbed to $2.7 billion, a 14.5% summation from the year-earlier period. Revenue per disposable spot mile grew 10.9% year-over-year. The airline's adjusted nonaccomplishment came successful astatine 66 cents per share. Analysts had expected a nonaccomplishment of 71 cents per share, according to Reuters.

JetBlue besides reinstated its full-year 2026 outlook, which it had antecedently withheld. The institution present expects full-year gross per disposable spot mile maturation of 10% to 12.5% year-over-year and projects paying $3.49 per gallon of pitchy substance for the afloat year. It expects an adjusted operating borderline of antagonistic 2% to antagonistic 5% for the year, the institution said.

"Our 2nd 4th results show the advancement we're making connected the levers wrong our control," Chief Financial Officer Ursula Hurley said successful a statement.

JetBlue besides introduced a semipermanent net people of astatine slightest $1.00 per stock for 2028, premised connected continued request spot and an assumed mean pitchy substance terms of $3.00 per gallon that year.

The results travel aft JetBlue reported a nett nonaccomplishment of $319 cardinal successful the archetypal 4th of 2026, wider than the $208 cardinal nonaccomplishment successful the aforesaid play a twelvemonth earlier, and missed Wall Street estimates. At that time, the bearer said it projected substance costs would emergence to a scope of $4.13 to $4.28 per gallon successful the 2nd 4th and flagged plans to chopped capableness during off-peak periods. It expected to afloat recapture substance costs by aboriginal 2027.

JetBlue's translation program, called JetForward, has generated $470 cardinal successful cumulative incremental net earlier involvement and taxes done June 2026, the institution said. The programme remains connected way to present $850 cardinal to $950 cardinal successful yearly incremental EBIT by the extremity of 2027, with benefits expected to scope astir $1.2 cardinal successful 2028.

Chief Executive Officer Joanna Geraghty said successful a connection that beardown lawsuit request and outgo controls enabled the hose to retrieve substance costs faster than anticipated.