Ryanair Holdings Stock Earnings Reports

Ryanair reported a strong Q1 FY'26 with profit after tax of EUR 820m (vs EUR 360m prior year) driven by a 4% traffic increase to 58m passengers and a 21% rise in average fares (partly due to Easter timing and weak prior-year comps). Revenue per passenger rose 15% and ancillaries were up 3% per passenger. Unit cost control remained a key strength with unit cost inflation of only ~1% in Q1 and management reiterating full-year modest unit cost inflation guidance of 1%–3%. Fleet progress: 5 Gamechanger deliveries in Q1 (181 Gamechangers now), constrained growth guidance of ~3% to 206m passengers this year due to Boeing delivery delays, and confidence in later MAX 10 deliveries tied to improving Boeing certification outlook. Fuel and FX hedging is strong (FY'26 ~85% hedged at $76/bbl; FY'27 ~36% hedged at just under $66/bbl). Balance sheet remains robust with net cash up ~EUR 2bn; management expects to repay two large bonds (EUR 850m in Sept and EUR 1.2bn next May) from internal resources and continues a EUR 750m share buyback (c. EUR 60m executed in Q1). Capital spending for FY'26 is about EUR 2.2bn (including opportunistic engine purchases); CapEx expected to dip