Jetblue Airways (JBLU) Q4 FY2023 earnings: revenue $2.3 billion, down 3.8% on the year

Jetblue Airways Corp. (JBLU) reported revenue of $2.3 billion for Q4 FY2023, the quarter ended 31 December 2023, down 3.8% on the same quarter a year earlier. Net income was -$103 million, and diluted earnings per share $-0.31. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2024.

Revenue$2.3 billiondown 3.8%

Net income-$103 million

Diluted EPS$-0.31

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	2,324	2,353	n/a	n/a
Operating income	-67.0	-156	n/a	n/a
Operating margin	-2.9%	-6.6%	n/a
Interest expense	n/a	53.0	n/a	n/a
Pre-tax income	-110	-174	n/a	n/a
Income tax	-7.0	-21.0	n/a	n/a
Net income	-103	-153	n/a	n/a
Net margin	-4.4%	-6.5%	n/a
Diluted EPS	-$0.31	-$0.46	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	-86.0	-177	n/a	n/a
Capital expenditure	378	311	n/a	n/a
Free cash flow	-464	-488	n/a	n/a
Free cash flow margin	-20.0%	-20.7%	n/a
Cash from investing	-451	-552	n/a	n/a
Cash from financing	732	241	n/a	n/a
Depreciation and amortisation	160	155	n/a	n/a
Share-based compensation	8.0	9.0	n/a	n/a
Diluted shares, weighted	338m	333m	n/a	n/a
Shares outstanding at period end	339m	333m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	3,337	3,420	n/a	n/a
Debt	4,716	4,000	n/a	n/a
Operating lease liabilities	547	560	n/a	n/a
Finance lease liabilities	0.0	n/a	n/a	n/a
Other liabilities	5,253	5,432	n/a	n/a
Total liabilities and equity	13,853	13,412	n/a	n/a
Fixed assets	9,675	9,439	n/a	n/a
Intangible assets	349	346	n/a	n/a
Investments	564	575	n/a	n/a
Cash and equivalents	1,166	973	n/a	n/a
Receivables	336	329	n/a	n/a
Inventory	109	97.0	n/a	n/a
Other assets	1,654	1,653	n/a	n/a
Total assets	13,853	13,412	n/a	n/a

Questions

What was Jetblue Airways' revenue in Q4 FY2023?

Jetblue Airways (JBLU) reported revenue of $2.3 billion for Q4 FY2023, the quarter ended 31 December 2023, down 3.8% on the same quarter a year earlier.

How much did Jetblue Airways earn in Q4 FY2023?

Net loss for Q4 FY2023 was $103 million, and the diluted loss per share $0.31.

When did Jetblue Airways report Q4 FY2023 results?

Jetblue Airways filed its 10-K for the year that ended with the quarter on 12 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	2,353	2,324	2,209	2,428	2,365	2,277	2,140	2,356	2,322	2,244	2,240	2,697
Operating income	-156	-67.0	-719	57.0	-38.0	16.0	-174	6.0	-100	-100	-224	-141
Operating margin	-7%	-3%	-33%	2%	-2%	1%	-8%	0%	-4%	-4%	-10%	-5%
Interest expense	53.0	n/a	53.0	63.0	100	149	148	147	146	147	144	147
Pre-tax income	-174	-110	-767	31.0	-78.0	-83.0	-271	-94.0	-196	-213	-336	-271
Tax rate	n/a	n/a	n/a	19%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	-153	-103	-716	25.0	-60.0	-44.0	-208	-74.0	-143	-177	-319	-247
Net margin	-7%	-4%	-32%	1%	-3%	-2%	-10%	-3%	-6%	-8%	-14%	-9%
Diluted EPS	-$0.46	-$0.31	-$2.11	$0.07	-$0.17	-$0.13	-$0.59	-$0.21	-$0.39	-$0.48	-$0.86	-$0.66
Operating cash flow	-177	-86.0	204	-14.0	-29.0	-17.0	114	-115	-142	49.0	120	-155
Capital expenditure	311	378	427	427	273	351	176	297	269	336	126	222
Free cash flow	-488	-464	-223	-441	-302	-368	-62.0	-412	-411	-287	-6.0	-377
Shares outstanding	333m	339m	340m	347m	347m	353m	354m	364m	364m	370m	372m	377m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 12 February 2024, accession 0001158463-24-000006: the filing on EDGAR. All of Jetblue Airways Corp.'s filings: EDGAR company page.

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