During its earnings call, JetBlue revealed a pre-tax loss of $398M for Q1 versus an income of $58M during the same period in 2019. The airline's capacity declined by 0.3% YoY. More: - JetBlue generated 1.6B from passenger operations, up from $670M in Q1 2021. Across its operating revenue streams, the airline reached $1.73B, up from $733M in Q1 of last year.
- The airline spent $571M in aircraft fuel and related taxes, up 195% YoY, and $57M on sales and marketing, up 152.9% YoY.
- JetBlue improved its operating margin to -21.1% from -40.2% in Q1 2021.
- Aircraft utilization increased to 9.9 hours per day versus 5.9 hours/day during the same period last year. JetBlue had 78,393 departures, up 78% YoY.
- $JBLU dropped 8.89% for the day on Tuesday morning.
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 On Tuesday, Ford announced the start of production for its electric F-150 Lightning pickup truck at its Rouge Complex in Dearborn, Michigan. The automaker claims the new model has 200,000 reservations. More: - Ford expects to reach a production of 150,000 F-150 Lightning pickup trucks per year in 2023.
- The company invested $950M in its Rouge Complex and a total of more than $1B on the production of the pickup truck, including its powertrain center and components plants.
- Ford expects to deliver more than 2 million EVs per year by 2026 and aims for electric models to reach 50% of global volume by 2030.
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Blink Charging announced the acquisition of Electric Blue, which operates 1,150 EV chargers in the U.K., for $23.4M. The acquisition expands Blink's presence to 18 countries. More: - Electric Blue has over 80 customers, including local government, NHS locations, universities, and commercial fleets. The company claims a ~$15.1M order book.
- EB has Level 2 and DC fast charging ports in 40 municipalities across the U.K.
- In March, the U.K. announced its ~$2B plan to increase EV charge points to 300,000 by 2030.
- Blink forecasts purchases of electric vehicles will grow to 10 million by 2025, from 2 million in 2019.
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During its earnings call, truck manufacturer Paccar revealed it achieved a net income of $600.5M, up from $470.8M in Q1 2021. The company generated $4.69B in truck sales, up from $4.23B during the same period last year. More: - Paccar generated $1.38B from truck parts, up from $1.16B in Q1 2021, and $366M from financial services, down from $432M.
- The truck company's U.S. and Canada sales totaled $3.76B, up from $3.53B the previous year. Its Europe sales generated $1.87B, increasing from $1.59B in Q1 2021.
- Paccar delivered 43,000 new trucks, of which 20,700 were in the U.S. and Canada. During Q1 2021, Paccar delivered 42,200 truck units globally.
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During its quarterly earnings call, UPS revealed it generated $24.37B, up from $22.9B in Q1 2021. The courier reached an operating margin of 13.3%, up from 12.1% in the same period last year. More: - UPS's average daily volume, however, declined 3%. Its B2B average daily volume increased by 3.6%.
- The company's U.S. domestic packages generated ~$13.4B during Q1, while its international deliveries were $3.7B, and its supply chain solutions reached $3.9B.
- In Q1, UPS's revenue per piece of delivery grew by 9.5%.
- The company expects revenue at approximately $102B for the year, with an adjusted operating margin of 13.7% and an adjusted return on invested capital above 30%.
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 NIO is changing its terms to allow customers enrolled in its battery swap program to opt out and purchase their own EV batteries. The automaker claims the change is based on a small subset of customer feedback. More: - Currently, all NIO vehicles start out with the battery swapping option; however, the automaker applies a fee for users who want to purchase their own batteries.
- NIO has seen an increase in local competitors offering battery swap stations, including its battery manufacturing partner, CATL, and EV maker GAC.
- NIO stock was down 5.36% for the day on Tuesday afternoon.
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- Rivian announced its upcoming "sand mode." Its founder and CEO, R.J. Scaringe, also tweeted that pet mode "is coming soon."
- Nissan said it will delay sales of its 2023 Z model, which had originally been scheduled for early June, due to supply constraints.
- The FAA plans to meet with airlines to discuss the 9,000 flights that were delayed or canceled earlier this month and how to improve traffic to and from tourism hotspots.
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 |  | Written and curated by Nicolas Saravia, an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped start-ups. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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