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View Full Version : Earnings Call / TA Talk


Softpayman
07-24-2018, 08:35 AM
After listening to about :40 of today's call I didn't hear much mention of the pilot contract. There was significant talk about CASM going forward and their focus on controlling it. Given that, I tend to agree with the union's stance that we reached our TA at the right time.


Cirrusly
07-24-2018, 08:57 AM
Stock down %10ish. Good times

hilltopflyer
07-24-2018, 09:03 AM
Yikes. Driving the price down for a buyout!!!!!!!!!!!! Jk this team is clueless


capt707
07-24-2018, 09:12 AM
Umm.... maybe stop investing into potato farms, apps and tech ventures?

coopervane
07-24-2018, 09:13 AM
Yikes. Driving the price down for a buyout!!!!!!!!!!!! Jk this team is clueless

52 week low. Interns and SJW's in charge.

Great job so far giggity!!!!

Softpayman
07-24-2018, 09:15 AM
So Iíll ask the ďnoĒ voter. Listen to the call & explain how weíll be in a better position for contract gains going forward.

DMEarc
07-24-2018, 09:38 AM
Your ďNoĒ voters are a scary crowd.

I donít know how you can look at the current economic environment and think you can achieve greater gains.

I expect to Big 3 to only achieve COLA increases in the next round of bargaining. Management will win this round.

Tailhookah
07-24-2018, 09:45 AM
JetBlue 2Qtr numbers are scary. I’d lock in a raise now.

∑ Costs were $1.8 billion, up 17.7%
∑ Operating margin was 9.1%, down from 18.9%
∑ Pre-tax margin was 8.2%, down from 17.7%
∑ Pre-tax income was $159 million, down 51.1%
∑ Net income was $120 million, down 41.9%

Yikes

CaptCoolHand
07-24-2018, 09:54 AM
JetBlue 2Qtr numbers are scary. Iíd lock in a raise now. The Legacy carriers are strong. B6ís free ride is over.

∑ Costs were $1.8 billion, up 17.7%
∑ Operating margin was 9.1%, down from 18.9%
∑ Pre-tax margin was 8.2%, down from 17.7%
∑ Pre-tax income was $159 million, down 51.1%
∑ Net income was $120 million, down 41.9%

Yikes

Free ride? Oh right... next year we have to start paying for maintenance on our airbus fleet. that's gonna suck.

seekingblue
07-24-2018, 09:57 AM
JetBlue 2Qtr numbers are scary. Iíd lock in a raise now. The Legacy carriers are strong. B6ís free ride is over.

∑ Costs were $1.8 billion, up 17.7%
∑ Operating margin was 9.1%, down from 18.9%
∑ Pre-tax margin was 8.2%, down from 17.7%
∑ Pre-tax income was $159 million, down 51.1%
∑ Net income was $120 million, down 41.9%

Yikes

These are scary bad numbers. Not sure if mngmt is intentionally trying to sink B6, but they look to be doing a good job of it.

Always have been a yes voter for this TA, this makes my yes voter even stronger.

Softpayman
07-24-2018, 10:01 AM
These are scary bad numbers. Not sure if mngmt is intentionally trying to sink B6, but they look to be doing a good job of it.

Always have been a yes voter for this TA, this makes my yes voter even stronger.

Lol.....Are you serious. They're nothing great, but scary? They beat earnings estimates...were you scared when you heard the estimates? You want to talk scary? It wasn't that long ago that scary calls were normal.

cmesoar
07-24-2018, 10:14 AM
Well after today and this latest news, my YES vote is locked in.

Super EZ E
07-24-2018, 10:17 AM
JetBlue 2Qtr numbers are scary. I’d lock in a raise now.

∑ Costs were $1.8 billion, up 17.7%
∑ Operating margin was 9.1%, down from 18.9%
∑ Pre-tax margin was 8.2%, down from 17.7%
∑ Pre-tax income was $159 million, down 51.1%
∑ Net income was $120 million, down 41.9%

Yikes

Sorry but that's just ugly. You guys better lock in a contract soon. I'd be concerned about the pre-tax income and net profit. What the next quarter looking like??

seekingblue
07-24-2018, 10:27 AM
https://www.cnbc.com/2018/07/23/jetblue-shares-tumble-9percent-as-fuel-costs-surge.html

Bluedriver
07-24-2018, 10:41 AM
1. Maybe the numbers are massaged to look scary as vote closes?

2. We are a highly leisure carrier, Easter peak travel moved to Q1, it moves from Q1 to Q2 and back from year to year, always helps or hurts. So the comparison to a year ago looks worse than it is.

3. Fuel up 40%.

4. Other carriers have significant reduced margins this quarter, yes ours is worse, but for us being highly leisure, back to point 2 regarding Easter peak travel this year.

5. Our operational performance has been SO BAD, thanks to our management, that of course many premium fare passengers have begun to book away from JB.

I believe we do much better for the 3rd quarter.

Chicken littles need not run around scared screaming yet. But then again, with this leadership...

N311JB
07-24-2018, 10:45 AM
Definitely better lock it in so weíre assured of nothing if things get so bad they throw it out in court. Thatís never happened. Just ask United, TWA, USAir, Delta etc Pilots. Bunch of chumps with short term memories. Go out and get your boat and 3rd divorce after you suckers vote yes.

Bozo the pilot
07-24-2018, 10:57 AM
Definitely better lock it in so weíre assured of nothing if things get so bad they throw it out in court. Thatís never happened. Just ask United, TWA, USAir, Delta etc Pilots. Bunch of chumps with short term memories. Go out and get your boat and 3rd divorce after you suckers vote yes.

Encouraging post- Thanks 311.
You could always fall back on your talent for Life-coaching if B6 doesnt work out. :)

N311JB
07-24-2018, 11:03 AM
Encouraging post- Thanks 311.
You could always fall back on your talent for Life-coaching if B6 doesnt work out. :)

Sorry but I have no respect for people that make decisions out of fear. Vote for it by all means if you think itís a good deal, if itís good for your family, I respect that.
But heck Iíll keep going since we have a bunch spinless pilots at this company. Not everyone,but some. Arguing if we should dumpster dive or not. Thatís what weíve been reduced to? Iíll tell you first hand I married my wife out fear of never getting laid again. I know right. Flame away

Bozo the pilot
07-24-2018, 11:05 AM
Sorry but I have no respect for people that make decisions out of fear. Vote for it by all means if you think itís a good deal, if itís good for your family, I respect that.
But heck Iíll keep going since we have a bunch spinless pilots at this company. Not everyone,but some. Arguing if we should dumpster dive or not. Thatís what weíve been reduced to? Iíll tell you first hand I married my wife out fear of never getting laid again. I know right. Flame away

I agree with the cleaning BS- Never have never will.
SOP till I retire.
I dont trust B6 under the PEA.
I respect the NO voter who believes in his perspective, not the shamers who insult the Yes voter because they simply disagree.

N311JB
07-24-2018, 11:16 AM
I agree with the cleaning BS- Never have never will.
SOP till I retire.
I dont trust B6 under the PEA.
I respect the NO voter who believes in his perspective, not the shamers who insult the Yes voter because they simply disagree.

Not trying to shame. Bozo I know youíre a yes and youíve explained why youíre voting yes. I respect you and your decision My spouse voted yes, probably gives up my identity. Just fear mongering that we all dislike is on full display and now some are playing into the trap.
So what? If things trend worse after we sign, the company comes to us for concessions, do we give in? Cause thatís the next play. I just wish guys/gals would like at the history of airlines

175drvr
07-24-2018, 11:35 AM
Sorry but I have no respect for people that make decisions out of fear. Vote for it by all means if you think itís a good deal, if itís good for your family, I respect that.
But heck Iíll keep going since we have a bunch spinless pilots at this company. Not everyone,but some. Arguing if we should dumpster dive or not. Thatís what weíve been reduced to? Iíll tell you first hand I married my wife out fear of never getting laid again. I know right. Flame away

How are you voting out of fear when earnings fall? That seems like uhhh being smart. Letís lock this in in case oil continues to rise and we have another 2008.

Will it happen? Probably not, but it would sure suck to only have the PEA during another downtown. Any monumental gains we could make in the next 8-12 months would not outweigh the loss we incurred during that same time by leaving the current offer at the table.

O2pilot
07-24-2018, 11:52 AM
How are you voting out of fear when earnings fall? That seems like uhhh being smart. Letís lock this in in case oil continues to rise and we have another 2008.

Will it happen? Probably not, but it would sure suck to only have the PEA during another downtown. Any monumental gains we could make in the next 8-12 months would not outweigh the loss we incurred during that same time by leaving the current offer at the table.

After seeing earnings i agree with you. You guys would be crazy not to accept this TA.

Softpayman
07-24-2018, 12:18 PM
How are you voting out of fear when earnings fall? That seems like uhhh being smart. Letís lock this in in case oil continues to rise and we have another 2008.



He uses the word "fear" thinking he's dealing with a bunch of junior high kids.

"I'm not scared!!! Watch me vote it down now!"

Hardly. I'm looking at the financial environment, reading and watching material the union has for us, listening to earnings calls etc. What I heard today was that costs are going to be looked at aggressively (at least in the short term). At this point I see no reason the company would substantially change their offer, nor do I think the mediator will be sympathetic to us. I find continuing to work under the PEA unacceptable given the offer on the table and the company's history of slow progress. The risk of voting no and finding ourselves in a worse negotiating environment is not only a real risk, it's likely to play out.

AMC190
07-24-2018, 12:34 PM
JetBlue 2Qtr numbers are scary. Iíd lock in a raise now.

∑ Costs were $1.8 billion, up 17.7%
∑ Operating margin was 9.1%, down from 18.9%
∑ Pre-tax margin was 8.2%, down from 17.7%
∑ Pre-tax income was $159 million, down 51.1%
∑ Net income was $120 million, down 41.9%

Yikes

This ship is sinking very slowly!!! Time to jump !!!

Aero1900
07-24-2018, 12:41 PM
Sorry but I have no respect for people that make decisions out of fear.

So... if you are about to be run over by a bus, you shouldn't make a decision to jump out of the way because you are scared? Or if you are in danger you shouldn't react based on fear?

Sounds like solid advice.

I'm just messing with you. I don't even work for JetBlue. I'd vote yes if I did. The good times are almost over.. fuel is trending upward.

seekingblue
07-24-2018, 12:51 PM
So... if you are about to be run over by a bus, you shouldn't make a decision to jump out of the way because you are scared? Or if you are in danger you shouldn't react based on fear?

Sounds like solid advice.

I'm just messing with you. I don't even work for JetBlue. I'd vote yes if I did. The good times are almost over.. fuel is trending upward.

For people smarter than I-

Why arenít we actively hedging fuel? I understand you can hedge to much and at too high of a price. But why not hedge 20-25% and try and stabilize our future fuel costs?

Bluedriver
07-24-2018, 01:01 PM
The sky isn't falling girls.

CaptCoolHand
07-24-2018, 01:01 PM
If you look back over the last however many years. Our stock typically peaks in late July then drops. Picks back up again in oct/nov. Drops again in March. And the cycle continues.

Std Deviation
07-24-2018, 01:02 PM
https://www.cnbc.com/2018/07/23/jetblue-shares-tumble-9percent-as-fuel-costs-surge.html

It will bounce back. The disadvantage of the stock program “benefit” is that the company controls when it invests your payroll deductions and hence, the strike price. So when that money goes in the market the price will be back up. If you played the downturns this year you could make in excess of the 15% discount the company touts. But then again it was Robert Crandall that said to the effect of, “never buy stock in an airline.” My guess (for what it’s worth and the fact I’m married to a banker/broker) is it’s back up next week.

Softpayman
07-24-2018, 01:24 PM
Forget the stock price. It could have gone up today and given what was said Iíd be cautious moving forward in terms of what deals I think the company will offer us moving forward.

N311JB
07-24-2018, 01:44 PM
Forget the stock price. It could have gone up today and given what was said Iíd be cautious moving forward in terms of what deals I think the company will offer us moving forward.

It could have gone up today? How so. The company just gave awful guidance. They basically are going to have to rely on selling more snack boxes and credit card offers to make more revenue

hyperboy
07-24-2018, 01:48 PM
Sorry but I have no respect for people that make decisions out of fear. Vote for it by all means if you think it’s a good deal, if it’s good for your family, I respect that.
But heck I’ll keep going since we have a bunch spinless pilots at this company. Not everyone,but some. Arguing if we should dumpster dive or not. That’s what we’ve been reduced to? I’ll tell you first hand I married my wife out fear of never getting laid again. I know right. Flame away


I don't vote of fear at all. I vote on haves and have nots. I have read it in its entirety, went to one of the road shows, watched all videos, read FAQ's, talked to plenty of pilots. I don't care how pilots vote but that they are educated before they do so is all I ask.

The NO voters divide by not respecting the process and telling us how to vote and how stupid we are if we don't vote the way they want us.....Why not respect the process (not talking to you directly)? Do you think that helps the cause or alienates your hopeful outcome?

There are plenty that became a pilot so I could finally not be a Virgin pilot.:D

hyperboy
07-24-2018, 01:52 PM
For people smarter than I-

Why arenít we actively hedging fuel? I understand you can hedge to much and at too high of a price. But why not hedge 20-25% and try and stabilize our future fuel costs?

Why do we worry about fuel prices? We can't even get one of these things in the air.:D

pilotpayne
07-24-2018, 02:04 PM
1. Maybe the numbers are massaged to look scary as vote closes?

2. We are a highly leisure carrier, Easter peak travel moved to Q1, it moves from Q1 to Q2 and back from year to year, always helps or hurts. So the comparison to a year ago looks worse than it is.

3. Fuel up 40%.

4. Other carriers have significant reduced margins this quarter, yes ours is worse, but for us being highly leisure, back to point 2 regarding Easter peak travel this year.

5. Our operational performance has been SO BAD, thanks to our management, that of course many premium fare passengers have begun to book away from JB.

I believe we do much better for the 3rd quarter.

Chicken littles need not run around scared screaming yet. But then again, with this leadership...

Well said bluedriver. Pilots amaze me. We are literally paid to stay calm and think critically and yet we seem to be the first to scream omg itís all over. We did beat the estimates and jetblue even forecasted this. This should not be a massive shock.

Totally agree about the ďleadershipĒ part

pilotpayne
07-24-2018, 02:07 PM
This ship is sinking very slowly!!! Time to jump !!!

Same thing has been said for 18ish years.

pilotpayne
07-24-2018, 02:09 PM
Free ride? Oh right... next year we have to start paying for maintenance on our airbus fleet. that's gonna suck.

Come on donít you like when Adela pilots decide to go slumming and play down here with us jetblue guys;)

pilotpayne
07-24-2018, 02:10 PM
After seeing earnings i agree with you. You guys would be crazy not to accept this TA.

But what dose Kirby think?

Anyway gentlemen vote how you would like. I would not let this q report freak you out. Vote based on the TA and if it’s acceptable to you. Jetblue is finically sound one ehhh q is not going to kill us.

Bluedriver
07-24-2018, 02:11 PM
Why do we worry about fuel prices? We can't even get one of these things in the air.:D

We can't even get airplanes catered...

pilotpayne
07-24-2018, 02:15 PM
We can't even get airplanes catered...

Sure we can it just takes a really long time. Good thing giggity loves short turn times. They are so freaking stubborn itís simply amazing.
Change when we can drop the brake and add some turn time and maybe recouple the 190 crews and bang most of our issues are fixed.

Bluedriver
07-24-2018, 02:56 PM
Sure we can it just takes a really long time. Good thing giggity loves short turn times. They are so freaking stubborn itís simply amazing.
Change when we can drop the brake and add some turn time and maybe recouple the 190 crews and bang most of our issues are fixed.

You didn't mention planting an extra row of blue-potatoes!

Man, you are NOT JB leader(sunken)ship material.

pilotpayne
07-24-2018, 03:11 PM
You didn't mention planting an extra row of blue-potatoes!

Man, you are NOT JB leader(sunken)ship material.

Thatís why I didnít get that job.....god I told them I was cutting carbs for me not the airline....ugh

PasserOGas
07-24-2018, 04:56 PM
Wow, a scary earnings report during a contract vote. How totally unexpected.

Ted Striker
07-24-2018, 06:42 PM
Pre-tax loss of $160 million, inclusive of the E190 asset impairment charge ($319 million impairment charge).

You all realize we don't normally include a "Special Item" loss of $319,000,000 every quarter, right? Our fuel cost for the quarter was $491,000,000 which is our biggest operating expense. So, if you add in an addition $319,000,000 .... then yes, you will show a "loss" for the quarter.

The sky is not falling.

CaptCoolHand
07-24-2018, 06:56 PM
Pre-tax loss of $160 million, inclusive of the E190 asset impairment charge ($319 million impairment charge).

You all realize we don't normally include a "Special Item" loss of $319,000,000 every quarter, right? Our fuel cost for the quarter was $491,000,000 which is our biggest operating expense. So, if you add in an addition $319,000,000 .... then yes, you will show a "loss" for the quarter.

The sky is not falling.

Nope. Itís over. Vote yes and we lockin substandard everything forever. Everything sucks. Should have stayed with the direct relationship. Wish I went to truck driving school.

Softpayman
07-25-2018, 03:41 AM
Pre-tax loss of $160 million, inclusive of the E190 asset impairment charge ($319 million impairment charge).

You all realize we don't normally include a "Special Item" loss of $319,000,000 every quarter, right? Our fuel cost for the quarter was $491,000,000 which is our biggest operating expense. So, if you add in an addition $319,000,000 .... then yes, you will show a "loss" for the quarter.

The sky is not falling.

The sky isn't falling.

One would have to be tone deaf though to disregard the signs brought up yesterday though. It's like your fingers are in your ears, you just don't want to hear what they're saying.

It took us 3 years to get here with consistently positive outlooks. We're hitting some choppy water, last quarter and next and now, now you think we're really going to exact every last penny we feel we're owed? I'm glad our union at least has the big picture in mind, it's about getting the best deal you can while you can get it.

PasserOGas
07-25-2018, 05:38 AM
Pre-tax loss of $160 million, inclusive of the E190 asset impairment charge ($319 million impairment charge).

You all realize we don't normally include a "Special Item" loss of $319,000,000 every quarter, right? Our fuel cost for the quarter was $491,000,000 which is our biggest operating expense. So, if you add in an addition $319,000,000 .... then yes, you will show a "loss" for the quarter.

The sky is not falling.

$319M is roughly $90k per pilot. This looks to be nearly the entire cost of switching fleets. Funny that they cram it all into one quarter's earnings 3 years before we take delivery. I wonder, what could be their motivation for generating a large paper loss at this time?

I am sure it has nothing to do with our amazing (for the company) contract.

You guys do realize that new airplanes and scary earnings reports are straight out of the F&H playbook right?