Ryanair is set to announce its financial results for the first quarter of fiscal 2024 on Monday. Here are the key details:
Net Profit Forecast
Analysts predict that the Irish low-cost carrier will witness a rise in net profit for the quarter ending June 30. The net profit consensus, based on three analysts’ estimates, stands at €506.2 million ($563.4 million), according to FactSet. This marks significant growth compared to the net profit of €187.5 million in the same period last year.
Revenue Forecast
FactSet data, derived from six analysts’ estimates, suggests a revenue consensus of €3.59 billion for the budget airline.
What to Watch For
Financial Guidance
However, Ryanair is not anticipated to provide any financial guidance for the year, as noted by analysts Stephen Furlong and Eleanor Walsh of Davy. The analysts also highlight that the company’s previous statement regarding a “modest” year-on-year profit increase will require adjustment.
Costs
The airline is expected to report cost increases (excluding fuel) of approximately 5%. Additionally, total costs, including fuel, are projected to rise by around 11%. These figures are reflective of higher crew rations during summer to ensure operational stability amidst unprecedented air traffic control disruptions.
