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Ryanair (RYAAY) February Traffic Increases From 2023 Levels
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Ryanair Holdings (RYAAY - Free Report) reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, which implies that 5% more passengers flew than a year ago.
The load factor (percentage of seats filled by passengers) was high at 92% in February 2024. The reading was similar in the year-ago period.
RYAAY operated more than 63,000 flights in February 2024. However, 800 flights got canceled due to the Israel/Gaza conflict.
Owing to buoyant air travel demand, shares of Ryanair have gained 40% over the past year, which compares favorably with 7.4% growth of the Zacks Airline industry.
Image Source: Zacks Investment Research
Ryanair still expects traffic for fiscal 2024 to be 183.5 million despite headwinds like Boeing delivery delays. It has narrowed its fiscal 2024 view for profit after tax or PAT. The airline now expects fiscal 2024 PAT in the range of €1.85-€1.95 billion (the previous expectation was in the €1.85-€2.05 billion range).
GATX has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 16.47%.
The Zacks Consensus Estimate for 2024 earnings has been revised 6.1% upward over the past 90 days. GATX has an expected earnings growth rate of 3.68% for 2024. Shares of GATX have gained 19.5% in the past year.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 11.1% over the past 90 days. Shares of SKYW have surged 222.2% in the past year.
SKYW has an expected earnings growth rate of more than 100% for 2024. SKYW delivered a trailing four-quarter earnings surprise of 128.02%, on average.
CPA has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 18.02%.
The Zacks Consensus Estimate for CPA’s 2024 earnings has been revised 7.1% upward over the past 90 days. Shares of CPA have gained 3.4% in the past year.
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Ryanair (RYAAY) February Traffic Increases From 2023 Levels
Ryanair Holdings (RYAAY - Free Report) reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, which implies that 5% more passengers flew than a year ago.
The load factor (percentage of seats filled by passengers) was high at 92% in February 2024. The reading was similar in the year-ago period.
RYAAY operated more than 63,000 flights in February 2024. However, 800 flights got canceled due to the Israel/Gaza conflict.
Owing to buoyant air travel demand, shares of Ryanair have gained 40% over the past year, which compares favorably with 7.4% growth of the Zacks Airline industry.
Image Source: Zacks Investment Research
Ryanair still expects traffic for fiscal 2024 to be 183.5 million despite headwinds like Boeing delivery delays. It has narrowed its fiscal 2024 view for profit after tax or PAT. The airline now expects fiscal 2024 PAT in the range of €1.85-€1.95 billion (the previous expectation was in the €1.85-€2.05 billion range).
Zacks Rank and Stocks to Consider
RYAAY currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Transportationsector are GATXCorporation (GATX - Free Report) , SkyWest, Inc. (SKYW - Free Report) and Copa Holdings, S.A. (CPA - Free Report) . Each stock presently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
GATX has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 16.47%.
The Zacks Consensus Estimate for 2024 earnings has been revised 6.1% upward over the past 90 days. GATX has an expected earnings growth rate of 3.68% for 2024. Shares of GATX have gained 19.5% in the past year.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 11.1% over the past 90 days. Shares of SKYW have surged 222.2% in the past year.
SKYW has an expected earnings growth rate of more than 100% for 2024. SKYW delivered a trailing four-quarter earnings surprise of 128.02%, on average.
CPA has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 18.02%.
The Zacks Consensus Estimate for CPA’s 2024 earnings has been revised 7.1% upward over the past 90 days. Shares of CPA have gained 3.4% in the past year.