Ryanair Earnings Came Ahead of Estimates in Q2, Revenues Up Y/Y

Core Insights - Ryanair Holdings plc reported Q2 fiscal 2026 earnings of $3.76 per share, exceeding the Zacks Consensus Estimate of $3.62 per share and showing year-over-year improvement [1] - Revenues reached $6.40 billion, slightly below the Zacks Consensus Estimate of $6.41 billion but reflecting a 15% year-over-year increase [1] Traffic and Performance - Passenger traffic grew by 2% year over year, totaling 61.2 million passengers, with a load factor of 96%, up 1 percentage point year over year [2] - Average fares increased by 7% year over year, contributing to a 20% surge in profit after tax [2] - Operating costs rose by 4% year over year, driven by higher air traffic control fares and environmental costs, partially offset by fuel hedge savings [2] Future Outlook - Ryanair anticipates fiscal 2026 traffic to exceed 207 million passengers, an increase from the previous estimate of 206 million, due to earlier Boeing deliveries and strong demand [3] - The company expects only modest unit cost inflation in fiscal 2026, aided by effective cost control and fuel hedging [3] - No profit after tax guidance is provided for fiscal 2026 [4]