SHARPE
Reported results
- GAAP total operating revenues increased 21.1% year-over-year to $2,812 million in the third quarter of 2026.
- GAAP net loss for the third quarter of 2026 was $257 million, or $0.68 basic and diluted loss per common share.
- Non-GAAP net loss excluding special items and gain on investments was $226 million, or $0.60 basic and diluted loss per share.
- GAAP operating loss for the third quarter of 2026 was $144 million, compared to $100 million in the third quarter of 2025.
- Non-GAAP adjusted operating margin was (3.9)% in the third quarter of 2026, compared to (4.1)% in the third quarter of 2025.
- Non-GAAP operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items (CASM ex-Fuel) increased 7.0% year-over-year to 11.78 cents.
Guidance
- Estimated 4Q 2026 ASMs year-over-year: 3.0% - 4.0%
- Estimated 4Q 2026 RASM year-over-year: 18.0% - 22.0%
- Estimated 4Q 2026 non-GAAP CASM Ex-Fuel year-over-year: (1.0%) - 1.0%
- Estimated 4Q 2026 Fuel Price per Gallon: $4.64
- Estimated FY 2026 ASMs year-over-year: 1.5% - 2.5%
- Estimated FY 2026 RASM year-over-year: 13.5% - 14.5%
- Estimated FY 2026 non-GAAP CASM Ex-Fuel year-over-year: 3.5% - 4.5%
- Estimated FY 2026 Fuel Price per Gallon: $3.95
- Estimated FY 2026 non-GAAP Adjusted Operating Margin: (4.5%) - (6.5%)
- Estimated FY 2026 Interest Expense: ~$590 million
- Estimated FY 2026 Capital Expenditures: ~$850 million
Notes
Full year 2026 estimated effective tax rate is ~6%, primarily reflecting a non-cash impact from a valuation allowance included in the forecasted annual effective tax rate. Capital expenditures guidance for full year 2026 excludes one Airbus A321neo XLR which JetBlue expects to sell.
Price and volatility reaction
The stock moved +19.0% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -39.4 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 2.37 | 2026-10-26 |
| Close after release | 2.82 | 2026-10-27 |
| Realised move | +19.0% | close to close |
| 30d ATM IV change | -39.4 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-26 (8-K, Item 2.02). Read the original filing on sec.gov.