JetBlue’s fourth-quarter results beat expectations, but the outlook for a key revenue metric was below forecasts.

Executives from the New York-based carrier talked up many changes, including its new EvenMore product (formerly its Even More Space product) that debuted Tuesday, its premium cobranded credit card set to roll out shortly,

JetBlue is executing a cost-cut strategy of cutting unprofitable routes, deferring aircraft deliveries and pricing premium seats. It was also reported by CNBC that the airline has already offered senior pilots voluntary early retirement packages as part of the restructuring.

The president’s push against diversity programs has led many big employers to announce rollbacks, but others are defending the initiatives as good for business.

The New York-based carrier announced what it's calling the EvenMore experience, a refreshed type of extra-legroom seat located at the front of its economy cabins.

JetBlue’s unit revenue guide implied deceleration year over year despite all the changes it has been making,” offered Melius Research analyst Conor Cunningham.

Unit costs in 2025 will rise as much as 7% excluding fuel, the airline said Tuesday in a statement, outpacing analysts’ estimates on higher spending for compensation and aircraft maintenance. JetBlue shares fell as much as 18% as markets opened in New York, their biggest slump since Aug. 12.

JetBlue’s earnings results for the last quarter were better than analysts’ expectations to lose $0.29 per share. The company did miss its revenue target as year-over-year sales dropped by -2.1%. This marks five out of six quarters of declining revenue as JetBlue focuses on a balance sheet turnaround.

JetBlue Airways Corporation (NASDAQ:JBLU) reported an adjusted loss per share of 21 cents, beating the consensus loss of 31 cents, compared to a 19-cent loss reported a year ago. The air carrier reported operating revenue of $2.

UBS analyst Thomas Wadewitz revised the price target on JetBlue Airways (NASDAQ:JBLU) shares, reducing it to $5.00 from the previous target of $5.50. Despite the adjustment, the firm continues to recommend a Sell rating for the airline's stock.

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Because of the tragic incident, Ronald Reagan National Airport will remain closed until at least 11 a.m. on Thursday.