Why European Airline Ryanair's Shares Are Seeing Blue Skies Today
Portfolio Pulse from Lekha Gupta
Ryanair Holdings PLC (NASDAQ:RYAAY) shares are trading higher by around 10% after it reported H1 FY24 revenue growth of 30% Y/Y to €8.58 billion. The company's net profit escalated to €2.18 billion, a significant increase from €1.37 billion a year ago, benefiting from record summer traffic. The Board disclosed a maiden ordinary dividend of €400 million (€0.35 per share). The company now projects FY24 PAT to be within €1.85 billion to €2.05 billion, assuming modest losses over the H2 winter period. Ryanair reiterated the outlook for traffic to be around 183.5 million (+9% Y/Y) in FY24, with the final figure depending on Boeing Co (NYSE:BA) meeting their delivery commitments.
November 06, 2023 | 11:54 am
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POSITIVE IMPACT
Ryanair's strong H1 FY24 performance and maiden dividend announcement have led to a surge in its share price.
Ryanair's strong H1 FY24 performance, with a 30% Y/Y revenue growth and a significant increase in net profit, has positively impacted investor sentiment. The announcement of a maiden ordinary dividend further boosts investor confidence, leading to a surge in the company's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Ryanair's FY24 traffic outlook depends on Boeing meeting their delivery commitments.
Ryanair's FY24 traffic outlook is contingent on Boeing meeting their delivery commitments. While this news does not directly impact Boeing's stock price, any failure to meet delivery commitments could potentially negatively impact Boeing's reputation and stock price in the future.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50