NEW YORK (TheStreet) -- JetBlue Airways Corp. (JBLU) - Get Report stock is falling 2.21% to $25.63 in pre-market trading, despite the company's better than expected 2015 third quarter earnings.

The airline carrier posted adjusted earnings of 58 cents per diluted share, surpassing estimates by 1 cent.

Revenue increased 10.4% year-over-year to $1.69 billion, in line with analysts' estimates.

JetBlue paid an average of $1.85 per gallon of fuel in the latest quarter, down 39% from the same period last year. The company hedged about 14% of the fuel used, which led to $27 million in losses during the quarter.

Revenue passenger miles increased 9.2% to 11.1 billion due to a 10.4% rise in capacity.

"We posted another strong result in the third quarter as our revenue growth outperformed the industry and we ran an efficient and safe operation," CEO Robin Hayes said in a statement.

TheStreet Recommends

Separately, TheStreet Ratings team rates JETBLUE AIRWAYS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

We rate JETBLUE AIRWAYS CORP (JBLU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: JBLU

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