The market may have just opened, but JetBlue Airways Corp. (NASDAQ:$JBLU) already appears to be having a good day. And why is that? Well, it probably has something to do with the fact that JetBlue surpassed Wall Street’s Q3 profit expectations, regardless of the major flight disruptions that followed the devastating hurricanes.
On Tuesday, October 24, JetBlue Airways posted third-quarter earnings of $179 million, which is down from the $199 million for the same period in 2016.
Here’s what you need to know about the Q3 report!
On a per-share basis JetBlue Airways reported net income of 55 cents, which, as a point of reference, is 3 cents better than industry analysts had forecasted. The New York Company forecasted that disruptions caused by Hurricanes Irma and Harvey had a negative impact of 6 cents per share on its earnings.
Further, JetBlue Airways reported revenue of $1.81 billion in the period, which met Wall Street forecasts, and exceeded the $1.73 billion for 2016’s third quarter.
The airline forecasts operating expenses per available seat mile – which does not include fuel – to increase between the range of 5% and 7% in the fourth quarter.
“We are confident that the adjustments we are making to our network will limit any ongoing financial impact in 2018,” Robin Hayes, JetBlue Airways CEO, said in a statement.
Featured Image: twitter
