Ryanair Slumps on Latest Figures

Ryanair Holdings (NASDAQ:RYAAY) shares lost some real estate Monday on its third-quarter financial figures.

Q3 GAAP EPS proved to be €0.18. Revenue of €2.31B (+57.1% Y/Y).

Traffic jumped 24% to 38.4M (+7% pre-COVID in FY20). Q3 fares rose 14% on pre-COVID levels.

The carrier also boasted 84 B737-8200 “Gamechangers” delivered at the end of last year, bringing its total fleet fleet to 523 aircraft.

Ryanair expects Q4 to be loss making due to the absence of Easter from March. "As announced on 4 Jan., we are guiding FY23 PAT (pre-exceptionals) in a range of €1.325B - €1.425B (previously €1.00B - €1.20B)."

“Over the past three years, numerous airlines went bankrupt and many legacy carriers (incl. Alitalia, TAP, SAS and LOT) significantly cut their fleets and passenger capacity, while racking up multi-billion-euro State Aid packages,” CEO Michael O’Leary commented. “These structural capacity reductions have created enormous growth opportunities for Ryanair.”

He added that the carrier is seeing more spending from both American and Asian tourists. O’Leary expects particularly strong travel demand around the Easter holiday and during the summer.

“While bookings continue to be closer-in than in spring 2020 (pre-Covid), we have reasonable visibility for the remainder of FY23, with FY traffic guided at 168M. Ryanair expects Q4 to be loss making due to the absence of Easter from March,” O’Leary said. “As announced on 4 Jan., we are guiding FY23 PAT in a range of €1.325B - €1.425B (previously €1B - €1.2B).”

RYAAY shares lost altitude $3.12, or 3.3%, to $92.57