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Ryanair (RYAAY) Posts Q1 Loss, Expects Q2 Loss to be Smaller
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Ryanair Holdings (RYAAY - Free Report) incurred a loss of 93 cents per share in the first quarter of fiscal 2021 (ended Jun 30, 2020), narrower than the Zacks Consensus Estimate of a loss of $1.45. In the year-ago period, the company reported earnings of $1.2 per share. The carrier regarded first-quarter fiscal 2021 as the most challenging in its 35 years of history with EU governments’ travel restrictions and lockdowns across several nations. More than 99% of the airline’s fleet was grounded from mid-March to June-end.
Quarterly revenues of $137.8 million missed the Zacks Consensus Estimate of $138.6 million. Moreover, the top line plunged 94.7% year over year due to massive decline in traffic.
Ryanair’s loss after tax came in at €185.1 million in first-quarter fiscal 2021, against profit after tax of €242.9 million in the year-ago period. Traffic dropped 99% year over year to 0.5 million due to weak travel demand and flight restrictions amid coronavirus concerns. Load factor deteriorated to 61% from 96% in first-quarter fiscal 2020.
Ancillary revenues fell 97% year over year in the reported quarter. The airline’s fuel costs declined 99% year over year due to reduced flying amid coronavirus-related fleet groundings. Total operating expenses fell 85% year over year. Ryanair, carrying a Zacks Rank #3 (Hold), had cash of more than €3.9 billion as of Jun 30, 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ryanair Holdings PLC Price, Consensus and EPS Surprise
Ryanair expects to fly approximately 60 million passengers in fiscal 2021, indicating a fall of 60% from fiscal 2020. Having resumed operations across several routes in July, the carrier estimates second-quarter fiscal 2021 loss to be smaller than the first. In July, it expects to operate approximately 40% of its normal schedule. Flying schedules are expected to increase in the coming months, with the airline hoping to operate 60% of the usual schedule in August and 70% in September.
Performance of Other Airline Stocks
Delta Air Lines (DAL - Free Report) , carrying a Zacks Rank #4 (Sell), incurred a loss (excluding $4.58 from non-recurring items) of $4.43 per share in the June quarter, wider than the Zacks Consensus Estimate of a loss of $3.97. Total revenues in the quarter came in at $1,468 million, surpassing the Zacks Consensus Estimate of $1,400.8 million.
Southwest Airlines Co. (LUV - Free Report) , carrying a Zacks Rank #3, incurred a loss of $2.67 per share (excluding $1.04 from non-recurring items) in the second quarter of 2020, wider than the Zacks Consensus Estimate of a loss of $2.53. Meanwhile, operating revenues of $1,008 million beat the Zacks Consensus Estimate of $868.9 million.
Alaska Air Group (ALK - Free Report) , carrying a Zacks Rank #3, incurred a loss of $3.54 per share (excluding $1.81 from non-recurring items) in the second quarter of 2020, wider than the Zacks Consensus Estimate of a loss of $3.39. Revenues came in at $421 million, surpassing the Zacks Consensus Estimate of $307.7 million.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Ryanair (RYAAY) Posts Q1 Loss, Expects Q2 Loss to be Smaller
Ryanair Holdings (RYAAY - Free Report) incurred a loss of 93 cents per share in the first quarter of fiscal 2021 (ended Jun 30, 2020), narrower than the Zacks Consensus Estimate of a loss of $1.45. In the year-ago period, the company reported earnings of $1.2 per share. The carrier regarded first-quarter fiscal 2021 as the most challenging in its 35 years of history with EU governments’ travel restrictions and lockdowns across several nations. More than 99% of the airline’s fleet was grounded from mid-March to June-end.
Quarterly revenues of $137.8 million missed the Zacks Consensus Estimate of $138.6 million. Moreover, the top line plunged 94.7% year over year due to massive decline in traffic.
Ryanair’s loss after tax came in at €185.1 million in first-quarter fiscal 2021, against profit after tax of €242.9 million in the year-ago period. Traffic dropped 99% year over year to 0.5 million due to weak travel demand and flight restrictions amid coronavirus concerns. Load factor deteriorated to 61% from 96% in first-quarter fiscal 2020.
Ancillary revenues fell 97% year over year in the reported quarter. The airline’s fuel costs declined 99% year over year due to reduced flying amid coronavirus-related fleet groundings. Total operating expenses fell 85% year over year. Ryanair, carrying a Zacks Rank #3 (Hold), had cash of more than €3.9 billion as of Jun 30, 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ryanair Holdings PLC Price, Consensus and EPS Surprise
Ryanair Holdings PLC price-consensus-eps-surprise-chart | Ryanair Holdings PLC Quote
Outlook
Ryanair expects to fly approximately 60 million passengers in fiscal 2021, indicating a fall of 60% from fiscal 2020. Having resumed operations across several routes in July, the carrier estimates second-quarter fiscal 2021 loss to be smaller than the first. In July, it expects to operate approximately 40% of its normal schedule. Flying schedules are expected to increase in the coming months, with the airline hoping to operate 60% of the usual schedule in August and 70% in September.
Performance of Other Airline Stocks
Delta Air Lines (DAL - Free Report) , carrying a Zacks Rank #4 (Sell), incurred a loss (excluding $4.58 from non-recurring items) of $4.43 per share in the June quarter, wider than the Zacks Consensus Estimate of a loss of $3.97. Total revenues in the quarter came in at $1,468 million, surpassing the Zacks Consensus Estimate of $1,400.8 million.
Southwest Airlines Co. (LUV - Free Report) , carrying a Zacks Rank #3, incurred a loss of $2.67 per share (excluding $1.04 from non-recurring items) in the second quarter of 2020, wider than the Zacks Consensus Estimate of a loss of $2.53. Meanwhile, operating revenues of $1,008 million beat the Zacks Consensus Estimate of $868.9 million.
Alaska Air Group (ALK - Free Report) , carrying a Zacks Rank #3, incurred a loss of $3.54 per share (excluding $1.81 from non-recurring items) in the second quarter of 2020, wider than the Zacks Consensus Estimate of a loss of $3.39. Revenues came in at $421 million, surpassing the Zacks Consensus Estimate of $307.7 million.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>