Stock Analysis

easyJet Full Year 2023 Earnings: EPS Misses Expectations

Simply Wall St

December 16, 2023

easyJet (LON:EZJ) Full Year 2023 Results

Key Financial Results

Revenue: UK£8.17b (up 42% from FY 2022).
Net income: UK£324.0m (up from UK£169.0m loss in FY 2022).
Profit margin: 4.0% (up from net loss in FY 2022). The move to profitability was driven by higher revenue.
EPS: UK£0.43 (up from UK£0.22 loss in FY 2022).

EZJ Operational Performance

Available seat kilometres (ASK): 113.33b (up 16% from FY 2022).
Passenger load factor: 89.3% (up from 85.5% in FY 2022).
Total aircraft: 336 (up by 26 from FY 2022).

revenue-and-expenses-breakdown — LSE:EZJ Revenue and Expenses Breakdown December 16th 2023

All figures shown in the chart above are for the trailing 12 month (TTM) period

easyJet EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.6%.

The primary driver behind last 12 months revenue was the Airline segment contributing a total revenue of UK£7.40b (91% of total revenue). Notably, cost of sales worth UK£5.54b amounted to 68% of total revenue thereby underscoring the impact on earnings.Explore how EZJ's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Airlines industry in Europe.

Performance of the market in the United Kingdom.

The company's shares are up 4.2% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on easyJet's balance sheet health.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.