RYAAY

Ryanair Holdings plc (RYAAY) reported first-quarter fiscal 2027 earnings of $1.19 per share, missing the Zacks Consensus Estimate of $1.25 by 4.8%. Profit after tax fell 34% year over year to €537.7 million. Revenues rose 1% to €4.38 billion, or $5.10 billion, but missed the consensus mark of $5.11 billion by 0.2%. Traffic increased 6% to 61.3 million passengers, while lower fares and higher unhedged fuel costs pressured profitability. Ryanair Holdings PLC price-consensus-eps-surprise-chart | Ryanair Holdings PLC Quote Scheduled revenues declined 1% year over year to €2.91 billion. Passenger traffic grew 6% to 61.3 million, but the average fare fell 6% to €48. The load factor remained unchanged at 94%. Management attributed the fare pressure to consumer hesitancy related to the Middle East conflict, economic uncertainty and later bookings. The comparison also faced a calendar headwind because the full Easter holiday benefited the prior-year first quarter. Ancillary revenues increased 5% to €1.47 billion, broadly matching traffic growth. Ancillary revenue per passenger remained approximately flat at €24, helping offset part of the decline in scheduled ticket revenues. Revenue per passenger fell 5% overall. Ryanair continued to stimulate demand through lower fares while expanding its network with three new bases in Rabat, Tirana and Trapani and 130 new summer 2026 routes. Total operating expenses increased 11% to €3.81 billion. Fuel and oil costs rose 16% to €1.69 billion as the price of the company’s 20% unhedged fuel more than doubled during the quarter. Higher environmental taxes and a 6% increase in flight hours added pressure. Depreciation climbed 21% to €417.1 million, reflecting 29 additional Boeing 737-8200 aircraft, greater utilization and higher maintenance provisions. Route charges rose 8%, while maintenance, materials and repair expenses increased 30% because of fleet growth, labor inflation and greater aircraft usage. Airport and handling charges increased 5% to €519.9 million, below the rate of traffic growth. Staff costs rose 3% to €476.3 million as pre-agreed wage increases were partly offset by efficiency gains from newer aircraft. Marketing, distribution and other expenses declined 8% to €203 million due to lower passenger compensation and marketing spending. Even with these savings, operating profit dropped 37% to €575.4 million as cost growth significantly exceeded the 1% revenue increase. Ryanair ended June with gross cash of more than €2.8 billion and net cash of €2.7 billion. The company repaid €1.3 billion of debt during the quarter, including its final €1.2 billion bond in May, leaving the group debt-free apart from limited remaining obligations. Operating cash inflow totaled €1.20 billion compared with €1.46 billion a year earlier. Capital expenditures were €474.7 million. Ryanair also spent €153.4 million on share repurchases during the quarter and was about 90% through its €750 million buyback program. Management continues to expect fiscal 2027 traffic to rise 4% to 216 million passengers. First-half traffic is projected to increase 6%, followed by approximately 2% growth in the second half. The fleet stood at 647 aircraft at June-end. Fiscal 2027 jet-fuel requirements are 80% hedged at about $67 per barrel. However, final unit costs will depend on the price of the remaining 20% unhedged fuel, alongside €300 million of additional environmental taxes, higher crew pay and maintenance expenses. Summer volumes remain strong, but the booking window is shorter than last year. Second-quarter fares are trending modestly lower year over year, and the first-half fare result will depend heavily on close-in bookings during August and September. Ryanair did not provide fiscal 2027 profit-after-tax guidance because of limited second-half visibility. Its longer-term fleet plan calls for the first 15 Boeing 737 MAX 10 aircraft to arrive in spring 2027, supporting the company’s target of 300 million annual passengers by fiscal 2034. Currently, Ryanair carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Delta Air Lines (DAL) reported second-quarter 2026 earnings (excluding 88 cents from non-recurring items) of $1.56 per share, beating the Zacks Consensus Estimate of $1.51. Earnings declined in double digits (% wise) from a year ago as sharply higher fuel costs pressured profitability. Revenues rose on a year-over-year basis to $17.67 billion but missed the consensus estimate of $17.76 billion. Broad demand strength lifted adjusted total revenue per available seat mile, or TRASM, 12.4%, while premium and diversified revenue streams continued to expand. United Airlines Holdings, Inc. (UAL) reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%. Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs. J.B. Hunt Transport Services, Inc. (JBHT) reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%. Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

By Tharuniyaa Lakshmi July 20 (Reuters) - European shares were muted on Monday as an escalating U.S.-Iran conflict drove oil prices higher, stoking inflation fears just as markets head into another global corporate earnings ‌season. The pan-European STOXX 600 index was little changed at 641.65 at 0844 GMT. U.S. strikes on Iran ‌entered a ninth straight day on Monday, and risks to shipping through the Strait of Hormuz mounted after reports of tankers being immobilised. ​Brent crude prices jumped 3% to more than $90 a barrel for the first time in a month. [O/R] Energy stocks rose 0.9%, while travel and leisure stocks fell 0.9%. Ryanair led losses on the STOXX 600, down 5%, after the budget airline reported a 34% drop in first-quarter profit, hurt by higher fuel costs and lower fares. Meanwhile, tech stocks were up ‌0.2%, ahead of earnings from U.S. ⁠Big Tech stocks, which could provide fresh stimuli to an eye-popping AI-driven rally. Last week, stellar quarterly updates from ASML and TSMC failed to impress investors. "There is a general ⁠relief this morning that nothing terribly bad has happened over the weekend... but the news has to be really positive to get some buying in," said David Morrison, senior market analyst at Trade Nation. A global pullback in tech stocks and renewed ​fighting ​in the Middle East dampened sentiment last week, wiping out ​most of the gains that stemmed from waning ‌bets that the Federal Reserve would hike interest rates after weaker-than-expected U.S. inflation data. "There are really mixed signals out there... CME's FedWatch tool is saying there's still expectations we're going to get at least one 25 bps rate hike by end of the year, and yet, every market observer is convinced the Fed won't actually raise this year," said Morrison. The European Central Bank meets later this week. Markets are expecting it to keep rates on ‌hold, though they are pricing in at least one 25-basis-point hike ​by end-2026, according to LSEG-compiled data. In the UK, investors will closely ​monitor the first speech by Andy Burnham, who ​is set to become Britain's seventh prime minister in a decade, with the cost-of-living ‌crisis and poorly performing services on his agenda. Among ​others, Thule fell 4.8% after ​the sports and outdoor products maker reported second-quarter sales that slightly missed market expectations and warned of price hikes. Swiss field device maker Belimo fell 3.6% despite the data center sector demand driving higher first-half revenue. Computacenter ​advanced 3.6% to top the STOXX ‌600 after Berenberg upgraded the IT services provider. IP Group gained 3.7% after Railpen, its largest shareholder, ​announced a sweetened takeover proposal for the early-stage science investor. (Reporting by Tharuniyaa Lakshmi and Purvi Agarwal ​in Bengaluru; Editing by Harikrishnan Nair and Shinjini Ganguli)

Interested in Ryanair Holdings (cdi)? Here are five stocks we like better. Ryanair’s Q1 profit fell sharply, with profit after tax down 34% to EUR 538 million as lower average fares and higher unhedged fuel costs outweighed a 6% rise in passenger traffic. Revenue and costs moved in opposite directions: total revenue rose 1% to EUR 4.38 billion, helped by 5% growth in ancillary revenue, but total costs jumped 11% as fuel prices spiked on the airline’s unhedged exposure. The airline kept its traffic growth target but withheld full-year profit guidance, citing weak fare visibility and volatile fuel costs, while continuing to emphasize its strong balance sheet and fuel hedging strategy. Ryanair Holdings (cdi) (LON:0RYA) reported a sharp decline in first-quarter profit as lower fares and a spike in unhedged fuel costs offset higher passenger traffic, executives said during the company’s Q1 results presentation. Group CEO Michael O’Leary said profit after tax fell 34% to EUR 538 million from EUR 820 million in the prior-year quarter. He attributed the decline mainly to two factors: the cost of the airline’s 20% unhedged fuel position doubled during the quarter, and average fares fell 6%. → Sandisk: What the Chart Is Trying to Tell Us O’Leary said the fare decline was driven by “the impact of the Middle East conflict” and the timing of Easter, with part of the holiday period falling into the prior-year fourth quarter. He also cited concerns about EU jet fuel shortages, economic uncertainty and later booking patterns as factors affecting demand and pricing. Ryanair carried 61.3 million passengers in the quarter, up 6% year over year. Group CFO Neil Sorahan said the increase was helped by 29 additional “gamechanger” aircraft in the fleet, with all 210 of those aircraft operating during the quarter. Load factors were flat at 94%. → MarketBeat Week in Review – 07/13- 07/17 Scheduled revenue dipped 1% to EUR 2.91 billion as the traffic increase was offset by lower fares. Total revenue rose 1% to EUR 4.38 billion, supported by ancillary revenue, which Sorahan said increased 5% to EUR 1.47 billion. On a per-passenger basis, ancillary revenue was broadly flat at EUR 24. Costs rose faster than revenue. Unit costs increased 5%, while total costs were up 11% to EUR 3.81 billion. Sorahan said the main driver was fuel, particularly the unhedged portion of the company’s fuel needs, where the price doubled to more than $150 per barrel. → Has Broadcom Become Too Expensive for Its AI Story? O’Leary and Sorahan emphasized Ryanair’s hedging position as a key buffer against volatile energy markets. O’Leary said the company’s conservative hedging policy, under which 80% of FY 2027 jet fuel is hedged at $67 per barrel, “has insulated our earnings during this period of very volatile oil prices.” Management said Ryanair has also begun hedging fuel for FY 2028. O’Leary said in his opening remarks that the airline had hedged the first 15% of FY 2028 fuel at $85 per barrel. Later in the presentation, he also referred to FY 2028 as “now 50% hedged at $85 a barrel.” In the Q&A portion, Sorahan stated that FY 2028 fuel was 15% hedged at $85 per barrel. Sorahan also said FY 2027 operating expenses are 90% hedged at $1.15 to the euro, while the first half of FY 2028 is 30% hedged at $1.20 to the euro. Ryanair highlighted its balance sheet strength following the repayment of its final EUR 1.2 billion bond in May. O’Leary said the repayment leaves the group “essentially debt-free.” Sorahan described the balance sheet as a “fortress,” noting that Ryanair has 620 fully unencumbered Boeing 737 aircraft on its balance sheet. At the end of June, Ryanair had more than EUR 2.8 billion in gross cash. O’Leary said that figure came after EUR 1.3 billion in debt repayments and EUR 500 million in capital expenditures. The company also has a EUR 1.1 billion revolving credit facility, which executives said is mostly undrawn. Sorahan said the company is rated BBB+ by both Fitch and S&P. He said Ryanair’s balance sheet is a competitive advantage, particularly as other airlines take on more expensive debt and leases. Management said the company is more than 90% through its EUR 750 million share buyback program and expects to complete it around the annual general meeting in September. Sorahan said Ryanair has bought back and canceled more than 25 million shares at an average price of EUR 26.35. The final dividend of EUR 0.195 per share is expected to be payable in September, subject to AGM approval. O’Leary said Boeing continues to expect certification of the MAX 10 in 2026 and has confirmed that Ryanair’s first 15 MAX 10 aircraft are expected to be delivered on time in spring 2027. Later in the presentation, O’Leary said Boeing was “pretty confident” the MAX 10 would be certified sometime in September or October, well ahead of the planned deliveries. Ryanair has ordered 300 MAX 10 aircraft, which O’Leary said carry 20% more seats and burn 20% less fuel. He said the aircraft will support the company’s goal of growing traffic to 300 million passengers by FY 2034. Sorahan said the aircraft should improve Ryanair’s unit costs across crew, airport and handling, maintenance and fuel. He also said the additional seats should support ancillary revenue growth by allowing the airline to carry more passengers per flight. Management said European short-haul capacity is expected to remain constrained until at least 2030 as Boeing and Airbus remain behind on aircraft deliveries. Sorahan also cited Pratt & Whitney engine issues affecting A320 operators, ongoing consolidation in Europe and pressure on weaker carriers from oil prices and the U.S. dollar. Ryanair maintained its target to grow FY 2027 traffic by 4% to 216 million passengers. O’Leary said growth is expected to be stronger in the first half, at about 6%, and slower in the second half, at about 2%, as the airline reduces exposure to unhedged oil. The company said Q2 fares are trending modestly lower year over year, with O’Leary describing the expected decline as low to mid-single digits. He said summer volumes remain strong, but the booking window is closer in than last year, limiting visibility. Ryanair did not provide full-year profit after tax guidance. O’Leary said the company has “zero H2 visibility,” and Sorahan said full-year unit costs will depend heavily on the cost of unhedged fuel for the remainder of the year. The company also said it is shifting capacity toward markets where governments and airports are reducing costs or offering growth incentives. O’Leary cited Slovakia, Albania, parts of Italy, Morocco and Sweden as examples, while saying capacity is being moved away from higher-cost or higher-tax markets such as Vienna, Berlin, Dublin and regional Spain. Ryanair opened new bases this summer in Rabat, Tirana and Trapani and has 130 summer 2026 routes on sale. Ryanair Holdings plc is a major European airline group known for operating low-fare passenger air services. Through its airline operations, the company provides scheduled flights across a broad network of domestic and international routes, serving leisure and business travelers throughout Europe and beyond. The company is best known for its low-cost model, which centers on short-haul air travel and high aircraft utilization. In addition to passenger transport, Ryanair also offers ancillary services such as reserved seating, priority boarding, checked baggage, and onboard sales, which form an important part of its overall business. Ryanair Holdings was founded in 1984 and grew from a small Irish airline into one of Europe's largest carriers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Ryanair Holdings (cdi) Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Profit After Tax: EUR 538 million, a 34% decline from last year's Q1 of EUR 820 million. Traffic Growth: Increased by 6% to 61.3 million passengers. Revenue Per Passenger: Decreased by 5%. Average Fares: Down 6%. Unit Costs: Increased by 5%. Jet Fuel Hedging: 80% hedged at $67 per barrel for FY27. Gross Cash: Over EUR 2.8 billion after EUR 1.3 billion in debt repayments and half a billion in CapEx. Share Buyback Program: 90% complete with an average price of EUR 26.35 per share. Traffic Growth Outlook for FY27: Expected to grow 4% to 216 million passengers. Ancillary Revenue: EUR 24 per passenger. Warning! GuruFocus has detected 2 Warning Sign with MSFT. Is RYAAY fairly valued? Test your thesis with our free DCF calculator. Release Date: July 20, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ryanair Holdings PLC (NASDAQ:RYAAY) reported a Q1 profit after tax of EUR 538 million, despite a 34% decline from the previous year. Traffic grew by 6% to 61.3 million passengers, indicating strong demand. The company is 80% hedged for FY27 jet fuel at $67 a barrel, providing insulation against volatile oil prices. Ryanair Holdings PLC (NASDAQ:RYAAY) has repaid a $1.2 billion bond, leaving the group essentially debt-free. The company is expanding with three new bases and over 130 new routes, supporting long-term growth. Revenue per passenger fell by 5%, and average fares were down 6%, indicating pricing pressure. Unit costs rose by 5%, partly due to unhedged jet fuel prices doubling. Q1 schedule revenue dipped 1% due to lower fares, despite traffic growth. The company anticipates a modest decline in Q2 pricing, with fares trending down year-on-year. Ryanair Holdings PLC (NASDAQ:RYAAY) faces challenges from EU regulations, including potential impacts from new advertising rules and ETS extensions. Q: Can you explain the apparent disconnect between the uptick in volumes and the downgrade in fare guidance for the September quarter? A: Michael O'Leary, Group CEO, explained that while there was an uptick in close-in bookings, it wasn't enough to offset the discounting done earlier. The pricing is trending down to mid-single-digits due to factors like the war in Iran and consumer hesitancy, despite initial hopes for flat pricing. Q: Are there any significant one-offs in the ownership costs that contributed to the 15% increase on a per passenger basis? A: Neil Sorahan, CFO, noted that the increase was due to the start of amortization for midlife engine visits and more frequent checks for older aircraft. Additionally, there were 29 more aircraft in the fleet this summer compared to last year. Q: How do you see winter capacity evolving for the sector, and what is the likelihood of capacity reduction at competitors? A: Eddie Wilson, CEO of Ryanair DAC, mentioned that while the market expects a 5% increase in winter capacity, Ryanair anticipates significant reductions from competitors. Ryanair plans to grow by 2% this winter, with some aircraft in maintenance. Q: What are your thoughts on the EU passenger rights update and its potential impact on demand? A: Michael O'Leary criticized the regulation requiring airlines to advertise fares including two carry-on bags, which applies to less than 50% of passengers. He believes it will be revenue neutral as passengers will opt out of the higher fare for a lower one. Q: Could you provide an update on the CLAs with unions and their impact on staff costs? A: Eddie Wilson stated that most CLA negotiations are complete, with some still ongoing. The cost of these agreements has already been factored into the financials, and further increases will be seen as more CLAs are finalized. Q: How do you view the potential impact of extended heatwaves on operations and demand? A: Michael O'Leary noted that the heatwave has not significantly impacted travel patterns, with Europeans continuing to travel to traditional beach destinations. He does not foresee any systemic change in booking patterns due to heatwaves. Q: What is the outlook for CapEx in FY28 and FY29, considering maintenance and Boeing deliveries? A: Neil Sorahan indicated that CapEx for FY27 is close to 2 billion, with FY28 expected to be between 2.7 billion and 3 billion. Further guidance beyond that is not provided at this stage. Q: What is the strategy for future share buybacks, considering the focus on CapEx and cash levels? A: Michael O'Leary stated that there will be no further buybacks this year after completing the current program. The focus is on funding CapEx and rebuilding cash reserves to 4 billion, with potential buybacks considered in 2027. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Airlines posted record profits in their most recent financial results, with the top nine carriers together clearing $25.11 billion (€22bn), according to an analysis by the Dubai-based investment firm One Investments of net earnings across the industry. Emirates leads the pack for a second consecutive year, but the fine print, and the calendar, matter enormously. Emirates reported a record $5.4 billion (€4.7bn) net profit for the first quarter of this year, the best result in its history and, by its own account, the industry's best, despite what chairman Sheikh Ahmed bin Saeed Al Maktoum described as significant challenges in the final month, after the start of the Iran war shut Gulf airspace at the end of February. Delta follows at $5 billion (€4.3bn), cementing its lead among US carriers, ahead of United with $3.4 billion (€3bn). Europe's champions come next. Ryanair earned €2.26 billion in its year to March, up 40% on surging fares, while Turkish Airlines made roughly $2.4 billion (€2.1bn) on record revenue, though its profit slipped. Singapore Airlines' $2.1 billion (€1.8bn) carries the ranking's biggest asterisk, addressed below. Qatar Airways posted $1.94 billion (€1.7bn), Cathay Pacific around $1.27 billion (€1.1bn) in its third straight solid year, and Japan's ANA about $1.1 billion (€963 million). Singapore Airlines' figure includes a one-off, non-cash accounting gain of S$1.1 billion ($800 million) booked on the Air India-Vistara merger. Its underlying profit was therefore roughly $1.3 billion (€1.1bn). The list also covers individual carriers only, excluding multi-brand parents such as IAG and Lufthansa Group, which is why British Airways and Lufthansa are absent. Qatar Airways and Emirates Group are single-carrier groups spanning only their airline, cargo, and duty-free businesses, and they report only at group level, so those figures stand. The rankings capture an industry at its peak just as the ground shifted. Qatar Airways' result was actually a decline of nearly 10%, despite a record operating profit, after the conflict closed Qatari airspace in its final quarter. "It is not often that a single financial year asks an organisation to demonstrate both the best of what it can achieve and the depth of what it can withstand," said CEO Hamad Al-Khater. Emirates carried 1% fewer passengers for the same reason, but the pain is only starting to register, and the Iran war now appears to have reignited for the second half of the year. Jet fuel, which One Investments notes already consumed about 25.8% of airline operating costs in 2025, spiked above $150 a barrel after the war disrupted the Strait of Hormuz, and the International Air Transport Association has warned that global airline profits are on course to halve this year, even though oil is currently trading at around $85 a barrel. Ryanair, which hedged 80% of its fuel needs at around $67 a barrel, declined to give guidance for the year ahead, citing poor visibility. The next edition of this ranking could read very differently.

For the fiscal year ending in March, Ryanair posted a record €2.3 billion ($2.7 billion) in after-tax profit, a 40% gain over the prior year, though ongoing fuel cost volatility tied to the Middle East conflict led the carrier to withhold a firm financial outlook. The company said it carried 208.4 million passengers during the period, a 4% year-over-year increase, while total revenue declined 11% to €15.54 billion. Following the earnings release, shares fell 2.7% when markets opened Monday, according to CNBC, and have now lost 27.5% of their value since the start of the year. Summer fares, once projected to tick upward, are now expected to land roughly in line with last year. Ryanair pointed to a shift toward later bookings as a factor that has clouded its ability to project demand, with peak-season results hinging on how travelers book in the final weeks before departure. Speaking to CNBC, CFO Neil Sorahan said the carrier locked in hedges covering 80% of its summer fuel needs at $668 per metric ton. The unhedged portion — 20% of its fuel requirements — has seen sharp price increases amid market volatility, he said, adding that the carrier has drawn up contingency plans for more severe disruption scenarios while ruling out cancellations. "Do we have plans for some kind of Armageddon situation? Of course, we do, but I don't see that coming to pass," Sorahan told CNBC. "As things stand, we're operating a full schedule this summer, and plan to operate a full schedule into the winter period." On supply security, Sorahan said Europe's reliance on Strait of Hormuz shipments has been falling as producers redirect crude from the U.S., Venezuela, Brazil, and other markets — a shift he said means Ryanair is not especially worried about access to fuel. Sustained high prices, he argued, actually favor Ryanair given the depth of its hedging program. Sorahan also warned that some smaller European airlines could run into serious trouble before the winter is out. In April, O'Leary told CNBC that a prolonged period of elevated oil prices would push some European carriers into collapse — a scenario he suggested would ultimately work to Ryanair's competitive advantage. The International Energy Agency warned that Europe had limited jet fuel reserves due to the near-closure of the Strait of Hormuz, which once handled about 25% of the world's seaborne oil trade. Daily shipments of crude and refined products through the Strait dropped to 2 million barrels in March from about 20 million barrels a day before the conflict. The fuel price surge has prompted airlines including SAS, Delta, United, and others to cut schedules, raise fees, or announce fare increases since the war began.