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Ryanair (RYAAY) Q3 Loss Wider Than Expected, Revenues Up Y/Y
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Ryanair Holdings (RYAAY - Free Report) incurred a loss of 48 cents per share in the third quarter of fiscal 2022 (ended Dec 31, 2021), wider than the Zacks Consensus Estimate by a penny. However, the amount of loss narrowed by 70.4% year over year. Results were hurt by Omicron-induced travel restrictions in December, which weakened close-in bookings and fares for the Christmas and New Year travel period.
Quarterly revenues of $1,681.1 million fell short of the Zacks Consensus Estimate of $1,792.2 million but improved more than 400% from the year-ago period with significant improvement in traffic owing to strong bookings in October and November.
Ryanair’s net loss for the quarter came in at €96 million compared with the year-ago quarter’s loss of €321 million. Traffic soared more than 200% year over year to 31.1 million. Load factor in the period was 84%, reflecting an improvement of 14 percentage points from the year-ago period.
Ryanair Holdings PLC Price, Consensus and EPS Surprise
Geographically, total revenues from Italy (comprised of 24.5% of the top line) climbed more than 200% year over year, while the same from Spain (17.6%) jumped more than 300%. Revenues from United Kingdom (12.7%) and Ireland (5.3%) soared nearly 300% and more than 400% year over year, respectively. Revenues from other European countries (39.9%) skyrocketed more than 300% year over year.
Scheduled revenues climbed more than 300% year over year due to increase in traffic and average fares. Ancillary revenues also jumped more than 300% year over year in the reported quarter due to strong performance in priority boarding and reserved seating, apart from robust traffic. The airline’s fuel and oil expenses increased by more than 200% year over year due to rise in sectors flown and high jet fuel prices. Total operating expenses rose more than 100% year over year. Ryanair, carrying a Zacks Rank #4 (Sell), had cash of nearly €3 billion as of Dec 31, 2021, higher than €3.15 billion as of Mar 31, 2021.
United Airlines (UAL - Free Report) , carrying a Zacks Rank #5 (Strong Sell), incurred a loss (excluding 39 cents from non-recurring items) of $1.60 per share in the fourth quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $2.23.
United Airlines’ operating revenues of $8,192 million outperformed the Zacks Consensus Estimate of $7,930.9 million. Both the top and bottom lines improved significantly year over year, thanks to strong holiday travel demand.
Southwest Airlines (LUV - Free Report) , carrying a Zacks Rank #5, reported fourth-quarter 2021 earnings (excluding 3 cents from non-recurring items) of 14 cents per share, which surpassed the Zacks Consensus Estimate of 5 cents. This marks the company’s first profitable quarter after seven consecutive losses since the pandemic began in 2020.
Southwest Airlines’ operating revenues of $5,051 million outperformed the Zacks Consensus Estimate of $5,029 million and also jumped more than 100% year over year. Strong holiday travel demand during November and December, as well as well as incremental revenues generated from the company's new co-brand credit card agreement, aided LUV’s fourth-quarter performance.
Delta Air Lines (DAL - Free Report) , carrying a Zacks Rank #5, reported fourth-quarter 2021 earnings (excluding 86 cents from non-recurring items) of 22 cents per share, outpacing the Zacks Consensus Estimate of 15 cents. Earnings came against the year-ago quarter’s loss of $2.53 per share. Strong holiday travel demand and favorable pricing aided the December-quarter results.
Delta’s revenues came in at $9,470 million, beating the Zacks Consensus Estimate of $9,232.1 million and skyrocketing more than 100% from the year-ago figure as people resorted to air travel during the holidays.
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Ryanair (RYAAY) Q3 Loss Wider Than Expected, Revenues Up Y/Y
Ryanair Holdings (RYAAY - Free Report) incurred a loss of 48 cents per share in the third quarter of fiscal 2022 (ended Dec 31, 2021), wider than the Zacks Consensus Estimate by a penny. However, the amount of loss narrowed by 70.4% year over year. Results were hurt by Omicron-induced travel restrictions in December, which weakened close-in bookings and fares for the Christmas and New Year travel period.
Quarterly revenues of $1,681.1 million fell short of the Zacks Consensus Estimate of $1,792.2 million but improved more than 400% from the year-ago period with significant improvement in traffic owing to strong bookings in October and November.
Ryanair’s net loss for the quarter came in at €96 million compared with the year-ago quarter’s loss of €321 million. Traffic soared more than 200% year over year to 31.1 million. Load factor in the period was 84%, reflecting an improvement of 14 percentage points from the year-ago period.
Ryanair Holdings PLC Price, Consensus and EPS Surprise
Ryanair Holdings PLC price-consensus-eps-surprise-chart | Ryanair Holdings PLC Quote
Geographically, total revenues from Italy (comprised of 24.5% of the top line) climbed more than 200% year over year, while the same from Spain (17.6%) jumped more than 300%. Revenues from United Kingdom (12.7%) and Ireland (5.3%) soared nearly 300% and more than 400% year over year, respectively. Revenues from other European countries (39.9%) skyrocketed more than 300% year over year.
Scheduled revenues climbed more than 300% year over year due to increase in traffic and average fares. Ancillary revenues also jumped more than 300% year over year in the reported quarter due to strong performance in priority boarding and reserved seating, apart from robust traffic. The airline’s fuel and oil expenses increased by more than 200% year over year due to rise in sectors flown and high jet fuel prices. Total operating expenses rose more than 100% year over year. Ryanair, carrying a Zacks Rank #4 (Sell), had cash of nearly €3 billion as of Dec 31, 2021, higher than €3.15 billion as of Mar 31, 2021.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Airlines
United Airlines (UAL - Free Report) , carrying a Zacks Rank #5 (Strong Sell), incurred a loss (excluding 39 cents from non-recurring items) of $1.60 per share in the fourth quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $2.23.
United Airlines’ operating revenues of $8,192 million outperformed the Zacks Consensus Estimate of $7,930.9 million. Both the top and bottom lines improved significantly year over year, thanks to strong holiday travel demand.
Southwest Airlines (LUV - Free Report) , carrying a Zacks Rank #5, reported fourth-quarter 2021 earnings (excluding 3 cents from non-recurring items) of 14 cents per share, which surpassed the Zacks Consensus Estimate of 5 cents. This marks the company’s first profitable quarter after seven consecutive losses since the pandemic began in 2020.
Southwest Airlines’ operating revenues of $5,051 million outperformed the Zacks Consensus Estimate of $5,029 million and also jumped more than 100% year over year. Strong holiday travel demand during November and December, as well as well as incremental revenues generated from the company's new co-brand credit card agreement, aided LUV’s fourth-quarter performance.
Delta Air Lines (DAL - Free Report) , carrying a Zacks Rank #5, reported fourth-quarter 2021 earnings (excluding 86 cents from non-recurring items) of 22 cents per share, outpacing the Zacks Consensus Estimate of 15 cents. Earnings came against the year-ago quarter’s loss of $2.53 per share. Strong holiday travel demand and favorable pricing aided the December-quarter results.
Delta’s revenues came in at $9,470 million, beating the Zacks Consensus Estimate of $9,232.1 million and skyrocketing more than 100% from the year-ago figure as people resorted to air travel during the holidays.