Read How Ryanair Performed In Q1 Amid Fragile Industry Recovery

  • Ryanair Holdings plc RYAAY reported first-quarter FY23 revenue of €2.60 billion, an increase of 602% year-over-year. EPS was 16.53 euro cents, compared to (24.16) euro cents loss a year ago.
  • Ancillary revenue continued to perform strongly as traffic builds, delivering over €22.50 per passenger. Scheduled revenues increased by 721% to €1.58 billion.
  • Q1 traffic recovered to 45.5 million from 8.1 million in 1Q22 and +9% ahead of pre-COVID. The load factor was 92% compared to 73% a year ago.
  • Operating costs expanded by 253% Y/Y to €2.38 billion. Due to higher aircraft utilization, expenses for maintenance, materials, and repairs increased by 43% to €88 million.
  • FY23 fuel requirements are 80% hedged (65% jet swaps at $63bbl and 15% caps at $78bbl), and FY24 hedging has increased to 30% at ~$92bbl. 
  • Ryanair's growth plans to 2026 will create over 6,000 well-paid jobs for highly skilled aviation professionals across Europe.
  • Gross cash was €4.64 billion as of June 30, 2022, and net debt was €0.40 billion.
  • Following a recent review of B737NG op. lease opportunities and Boeing Co's BA failure to agree on competitive pricing on a new aircraft order, Ryanair decided instead to extend most of its Lauda A320 leases.
  • Ryanair plans to grow FY23 traffic to 165 million (+11% on pre-COVID traffic) and will pursue its load active, yield passive strategy to achieve this growth.
  • Price Action: RYAAY shares are trading higher by 3.56% at $73.50 during the market session on Monday.
  • Photo Via Wikimedia Commons
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!