JBLU FY 2013 Earnings Report — JetBlue Airways Corporation Revenue & Financial Results | Market Cap Arena

JetBlue Airways CorporationJBLU

FY 2013 Earnings

Reported February 18, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$5.4B	—	$5.0B	—	9.2%
Op. Income	$428M	—	$358M	—	19.6%
Gross Margin	28.3%	—	27.8%	—	0.5pp
Net Margin	3.1%	—	2.6%	—	0.5pp
EPS (Diluted)	$0.52	—	$0.40	—	30.0%
Free Cash Flow	$121M	—	-$130M	—	193.1%

Revenue Flow

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$3.9B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$223M
General & Administrative	$0
SG&A Expenses	$223M
Other Expenses	$891M
Operating Expenses	$1.1B
Cost & Expenses	$5.0B
OPERATING INCOME	$428M
Interest Income	$0
Interest Expense	$149M
Other Income/Expenses	-$149M
INCOME BEFORE TAX	$279M
Income Tax Expense	$111M
Net Income from Continuing Ops	$168M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$168M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$168M
D&A	$288M
EBIT	$419M
EBITDA	$707M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$3.9B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$223M
General & Administrative	$0
SG&A Expenses	$223M
Other Expenses	$891M
Operating Expenses	$1.1B
Cost & Expenses	$5.0B
OPERATING INCOME	$428M
Interest Income	$0
Interest Expense	$149M
Other Income/Expenses	-$149M
INCOME BEFORE TAX	$279M
Income Tax Expense	$111M
Net Income from Continuing Ops	$168M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$168M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$168M
D&A	$288M
EBIT	$419M
EBITDA	$707M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$168M
Depreciation & Amortization	$306M
Stock-Based Compensation	$14M
Deferred Income Tax	$107M
Other Non-Cash Items	$24M
Change in Working Capital	$139M
OPERATING CASH FLOW	$758M
Capital Expenditure	-$637M
Acquisitions (Net)	$615M
Purchases of Investments	-$647M
Sales/Maturities of Investments	$808M
Other Investing Activities	-$615M
NET CASH FROM INVESTING	-$476M
Net Debt Issuance	-$219M
Common Stock Repurchased	-$8M
Common Dividends Paid	$0
Other Financing Activities	-$22M
NET CASH FROM FINANCING	-$239M
FREE CASH FLOW	$121M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$225M
Short-Term Investments	$0
Net Receivables	$129M
Inventory	$48M
Other Current Assets	$126M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$5.7B
Goodwill	-$675M
Intangible Assets	$70M
Long-Term Investments	$114M
Tax Assets	$605M
Other Non-Current Assets	$524M
TOTAL NON-CURRENT ASSETS	$6.3B
TOTAL ASSETS	$7.3B
Account Payables	$180M
Short-Term Debt	$469M
Deferred Revenue	$825M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$605M
Other Non-Current Liabilities	$621M
TOTAL NON-CURRENT LIABILITIES	$3.3B
TOTAL LIABILITIES	$5.2B
Common Stock	$3M
Additional Paid-In Capital	$1.6B
Retained Earnings	$601M
Treasury Stock	-$43M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$2.6B
Net Debt	$2.4B