JBLU FY 2014 Earnings Report — JetBlue Airways Corporation Revenue & Financial Results | Market Cap Arena

JetBlue Airways CorporationJBLU

FY 2014 Earnings

Reported February 12, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$5.8B	—	$5.4B	—	6.9%
Op. Income	$515M	—	$428M	—	20.3%
Gross Margin	30.0%	—	28.3%	—	1.7pp
Net Margin	6.9%	—	3.1%	—	3.8pp
EPS (Diluted)	$1.19	—	$0.52	—	128.8%
Free Cash Flow	$55M	—	$121M	—	-54.5%

Revenue Flow

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$4.1B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$231M
General & Administrative	$0
SG&A Expenses	$231M
Other Expenses	$1.0B
Operating Expenses	$1.2B
Cost & Expenses	$5.3B
OPERATING INCOME	$515M
Interest Income	$1M
Interest Expense	$134M
Other Income/Expenses	$108M
INCOME BEFORE TAX	$623M
Income Tax Expense	$222M
Net Income from Continuing Ops	$401M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$401M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$408M
D&A	$286M
EBIT	$508M
EBITDA	$794M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$4.1B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$231M
General & Administrative	$0
SG&A Expenses	$231M
Other Expenses	$1.0B
Operating Expenses	$1.2B
Cost & Expenses	$5.3B
OPERATING INCOME	$515M
Interest Income	$1M
Interest Expense	$134M
Other Income/Expenses	$108M
INCOME BEFORE TAX	$623M
Income Tax Expense	$222M
Net Income from Continuing Ops	$401M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$401M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$408M
D&A	$286M
EBIT	$508M
EBITDA	$794M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$401M
Depreciation & Amortization	$325M
Stock-Based Compensation	$20M
Deferred Income Tax	$212M
Other Non-Cash Items	-$266M
Change in Working Capital	$220M
OPERATING CASH FLOW	$912M
Capital Expenditure	-$857M
Acquisitions (Net)	$393M
Purchases of Investments	-$696M
Sales/Maturities of Investments	$777M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$379M
Net Debt Issuance	-$360M
Common Stock Repurchased	-$82M
Common Dividends Paid	$0
Other Financing Activities	$25M
NET CASH FROM FINANCING	-$417M
FREE CASH FLOW	$55M
Net Change in Cash	$116M

Balance Sheet

Item	Amount
Cash & Equivalents	$341M
Short-Term Investments	$0
Net Receivables	$136M
Inventory	$46M
Other Current Assets	$174M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$6.1B
Goodwill	-$905M
Intangible Assets	$73M
Long-Term Investments	$60M
Tax Assets	$832M
Other Non-Current Assets	$507M
TOTAL NON-CURRENT ASSETS	$6.6B
TOTAL ASSETS	$7.8B
Account Payables	$208M
Short-Term Debt	$265M
Deferred Revenue	$973M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$2.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$832M
Other Non-Current Liabilities	$574M
TOTAL NON-CURRENT LIABILITIES	$3.4B
TOTAL LIABILITIES	$5.3B
Common Stock	$4M
Additional Paid-In Capital	$1.7B
Retained Earnings	$1.0B
Treasury Stock	-$125M
Accum. Other Comp. Income	-$63M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$7.8B
Total Debt	$2.2B
Net Debt	$1.9B