Why JetBlue Stock Is Falling Today
JetBlue Airways (NASDAQ: JBLU) reported its first quarterly profit since the beginning of the pandemic, but the results still fell short of expectations. Investors were disappointed, sending JetBlue shares down more than 7% post-earnings.
It has been a surprisingly strong earnings season for airline investors, with demand holding up better than some had feared given the economic uncertainty. But with each airline that has released earnings, expectations have improved, and on Tuesday JetBlue failed to deliver.
JetBlue reported adjusted earnings of $0.21 per share for the quarter on revenue of $2.56 billion, compared to analyst expectations for earnings of $0.24 per share on sales of $2.55 billion. Much of the miss is attributable to increased costs related to Hurricane Ian, which disrupted Florida operations in September.
Source Fool.com
