NEW YORK, July 27, 2026, 1:05 p.m. EDT
- JetBlue rose 2.5% to $5.40 as U.S. markets stayed open.
- Second-quarter earnings are expected on Tuesday, with initial consensus estimates pointing to a loss of 69 cents and revenue of $2.69 billion.
- The projected third-quarter loss has decreased by 35% over the past three months.
Shares of JetBlue Airways climbed 2.5% on Monday afternoon, outperforming other leading U.S. airlines as lower oil prices boosted the sector. The advance occurred ahead of JetBlue’s quarterly earnings, which are due the next day.
Crude oil’s pullback on Monday came after the close of the second quarter, so it will not affect results due out on Tuesday. However, it may alter JetBlue’s forecast for third-quarter fuel costs and projected cash burn.
Analyst forecasts have changed most rapidly in that area. According to FactSet Research Systems NYSE:FDS, the anticipated third-quarter loss is now 37 cents per share, down from a 57-cent loss projected three months earlier. For the second quarter, the estimate increased by just four cents.
Early forecasts for the second half indicate the following bet:
| Measure | Current preliminary estimate | Comparison | Implied change |
|---|---|---|---|
| Q2 revenue | $2.69 billion | Q2 2025 actual: $2.356 billion | Up 14.3% |
| Q2 adjusted EPS | -$0.69 | Three months ago: -$0.73 | Loss reduced by 5.5% |
| Q3 adjusted EPS | -$0.37 | Three months ago: -$0.57 | Loss reduced by 35.1% |
| FY 2026 adjusted EPS | -$2.20 | Three months ago: -$2.53 | Loss reduced by 13.0% |
The difference is significant. JetBlue has updated its second-quarter unit revenue growth outlook to a range of 9% to 12%. The airline also increased its projected fuel cost, now expected to fall between $4.26 and $4.36 per gallon.
The midpoint for the fuel range is $4.31, which is nearly 80% higher than JetBlue’s $2.40 average in the second quarter of 2025. Elevated fares were necessary to help offset some of the impact.
JetBlue anticipates recovering a minimum of 40% of increased fuel expenses. However, analyst consensus forecasts a 69-cent adjusted loss, compared to a 16-cent loss in the previous year. Growth in sales may not be sufficient to shield margins.
Chief Executive Joanna Geraghty said in April that “demand trends strengthened as the quarter progressed, supporting improved yields.” In the first quarter, unit revenue increased 6.5%, and total unit costs were up 8.3%. JetBlue Newsroom
Brent crude slid nearly 6% on Monday to approximately $90 per barrel, as reduced tensions between the United States and Iran lessened concerns over additional supply interruptions. Travel-related stocks advanced widely.
| Airline or fund | Price at about 1:05 p.m. EDT | Intraday move |
|---|---|---|
| JetBlue Airways NASDAQ:JBLU | $5.40 | up 2.5% |
| U.S. Global Jets ETF NYSEARCA:JETS | $30.82 | up 2.4% |
| Delta Air Lines NYSE:DAL | $86.61 | up 1.8% |
| American Airlines Group NASDAQ:AAL | $14.68 | up 1.4% |
| United Airlines Holdings NASDAQ:UAL | $119.73 | up 1.2% |
| Southwest Airlines NYSE:LUV | $45.17 | up 0.2% |
JetBlue’s current valuation offers little margin for disappointment. Shares closed at $5.40, roughly 2.5% under the average analyst price target of $5.54 from FactSet. The prevailing consensus was “Underweight.” The Wall Street Journal
The company is set to release results ahead of Tuesday’s market open, with its conference call scheduled for 10 a.m. EDT. Market participants are focusing on third-quarter unit revenue, fuel expenses, and costs excluding fuel.
Liquidity is expected to face scrutiny. JetBlue finished March with $2.4 billion in available funds, not counting an unused $600 million credit line. The airline aims for $310 million in additional 2026 operating profit from its JetForward initiative.
Risks continue to be elevated. A resurgence of conflict in the Middle East has the potential to undo Monday’s drop in oil prices. S&P Global NYSE:SPGI downgraded JetBlue to CCC+ in June, with expectations that the airline will not see positive free cash flow until after 2028.
Tuesday’s results will indicate the extent to which pricing offset the impact of higher fuel costs in the second quarter. A key driver for the stock will be if JetBlue manages to uphold the market’s considerable trimming of projected third-quarter losses.
