Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
JetBlue Airways Corp.’s stock JBLU, +1.69% fell 7% in premarket trades on Tuesday after the carrier warned it would post a wider-than-expected fourth-quarter loss, while it swung to a wider-than-expected third-quarter loss and fell short of its revenue target. JetBlue said it lost $153 million, or 46 cents a share in the third quarter. In the year-ago quarter, JetBlue reported net income of $57 million, or 18 cents a share.
Adjusted loss in the latest quarter was 39 cents a share, wider than the FactSet consensus estimate for a loss of 25 cents a share. JetBlue’s revenue fell 8% to $2.35 billion, below the analyst estimate of $2.38 billion. For the fourth quarter, JetBlue expects to report an adjusted loss of 55 cents to 35 cents a share against an analyst estimate for a loss of 15 cents a share.
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