JOBY Shares Rise 5.6% Since Q1 Earnings Match Estimates

Joby Aviation JOBY reported unimpressive first-quarter 2025 results. The company’s bottom line met the Zacks Consensus Estimate, while the top line missed the same.

The stock has risen 5.6% since the release of results on May 7, outperforming the Transportation - Airline industry’s 3% growth. More than the financial numbers, it was the progress made during the quarter on receiving certification for commercial operations that pleased investors, leading to the share price uptick. The company aimsto operate air taxis before 2025 ends.

JOBY reported first-quarter 2025 loss of 18 cents per share (excluding seven cents from non-recurring items), which was in line with the Zacks Consensus Estimate. In the year-ago reported quarter, the company reported a loss of 14 cents.

Joby Aviation, Inc. Price, Consensus and EPS Surprise

Joby Aviation, Inc. price-consensus-eps-surprise-chart | Joby Aviation, Inc. Quote

Quarterly revenues broke even and missed the Zacks Consensus Estimate of $0.5 million. In the year-ago quarter as well, the company did not report any revenues.

In the March-end quarter, total operating expenses increased 10.6% year over year due to higher research and development (up 16%) and selling, general and administrative (up 4.2%) costs.

Adjusted EBITDA in the first quarter of 2024 was a loss of $127.1 million, which marked employee-related costs associated with the development, certification and manufacturing of the aircraft.

JOBY exited the first quarter with cash, cash equivalents and short-term investments of $812.5 million compared with $932.9 million at the end of the prior quarter.

JOBY’s 2025 Outlook

For 2025, JOBY anticipates generating cash, cash equivalents and short-term investments in the range of $500-$540 million.

JOBY’s Zacks Rank & an Upcoming Release

Currently, JOBY carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We note that another player from the broader Zacks Transportation sector, Landstar System LSTR, is scheduled to report first-quarter 2025 earnings on May 13. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

The company’s performance in the first quarter is expected to have suffered from weak freight demand, geopolitical uncertainty, tariff-related uncertainties and high inflationary pressure. LSTR’s earnings outpaced the Zacks Consensus Estimate in two of the last four quarters (missing the mark on the other two occasions). The average miss is 0.6%.

Q1 Performances of Other Transportation Companies

United Airlines’ UAL first-quarter 2025 earnings per share (excluding 25 cents from non-recurring items) of 91 cents surpassed the Zacks Consensus Estimate of 75 cents. In the year-ago quarter, the Chicago-based airline reported a loss of 15 cents. 

Operating revenues of $13.21 billion fell marginally short of the Zacks Consensus Estimate of $13.22 billion. The top line increased 5.4% year over year despite the tariff-induced slowdown in domestic air travel demand. Passenger revenues (which accounted for 89.7% of the top line) rose 4.8% to $11.9 billion. The actual figure was short of our passenger revenue estimate of $12.5 billion. UAL flights transported 40,806 passengers in the first quarter, up 3.8% year over year.

Delta Air Lines DAL reported first-quarter 2025 earnings (excluding 9 cents from non-recurring items) of 46 cents per share, which surpassed the Zacks Consensus Estimate of 40 cents. Earnings increased 2.2% on a year-over-year basis due to low fuel costs.

Revenues in the March-end quarter were $14.04 billion, surpassing the Zacks Consensus Estimate of $13.81 billion and increasing 2.1% on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) rose 3.3% year over year to $13 billion.

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This article originally published on Zacks Investment Research (zacks.com).

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