EasyJet (GB:EZJ)
LSE:EZJ
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Earnings Data
Report Date
Jul 23, 2026TBA (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
―Last Year’s EPS
-0.39Same Quarter Last Year
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a cautiously optimistic tone: management reported clear operational improvements (higher utilization, load factor at 90%, strong easyJet Holidays performance, improved on-time and customer satisfaction) and a robust balance sheet with substantial hedges and liquidity that underpin medium-term ambitions (GBP 1bn+ PBT). At the same time, near-term headwinds are material — fuel-price volatility (GBP 25m hit in March), higher CASK ex-fuel (+8% in H1), legal provisions (GBP 32m), airport fee inflation and weaker forward bookings (searches and August bookings significantly behind), particularly for Q4. Management has clear mitigation plans (active hedging, capital discipline, upgauging with quantified savings, network optimization, digital investments), and the positives (financial strength, quantified upgauging benefits, Holidays growth) modestly outweigh the risks, though execution on mitigating actions and demand recovery will determine outcomes.Company Guidance
Passenger and Capacity Metrics
H1 passengers +6% while seat capacity rose +4%; load factor improved by 2 percentage points to 90%, indicating stronger demand and better capacity utilization.
Improved Aircraft Utilization and Capacity Restoration
Over the last 3 winters easyJet added +24% seats and +33% ASKs; aircraft utilization is now 20% higher than 2023 and restored to pre-COVID levels, enabling moderated future growth and route maturation.
EasyJet Holidays Strong Growth and Profitability
easyJet Holidays passengers +22% in H1 and delivered GBP 61m PBT, described as +39% profitability improvement year-on-year for the business unit.
Operational Performance and Customer Satisfaction
On-time performance improved (further +1 point) and customer satisfaction increased by +2 percentage points to 84% for the airline and +1 point to 85% for easyJet Holidays, reflecting better operational resilience.
Robust Hedging and Fuel Protection
Significant fuel hedging in place: management stated ~72% covered at c.$726/tonne with over half of the next winter hedged and almost 30% of the following summer hedged; management emphasised active hedging to protect cashflow and customers from fuel volatility.
Strong Liquidity and Balance Sheet
Liquidity GBP 4.7bn (more than GBP 1bn above policy), net cash GBP 434m, cash on balance sheet cited at c. GBP 3.3bn and available RCF of $1.7bn; 86% ownership of neo aircraft and 59% of total fleet owned — supporting financial flexibility.
Fleet and Upgauging Plan with Quantified Savings
Planned deliveries: 17 aircraft this year, 30 next year, 43 thereafter. Accelerated retirement of A319s by 2029 (79 A319s currently). Upgauging quantified benefit: ~GBP 110m cost improvement in 2027 and GBP 140m in 2028 (GBP 250m cumulative by 2028) from moving off A319s (A319 burns ~10% more fuel and has ~24% higher unit cost vs A320).
Medium-Term Profit Target and Capital Discipline
Medium-term ambition to deliver GBP 1bn+ PBT remains unchanged; new capital allocation hurdle introduced (GBP 2.5m per aircraft) to focus growth into bases that meet performance thresholds.
Technology and Productivity Initiatives
Investments underway in SkyMAX scheduling, crew planning, automation, data and AI, SmartStand camera tech and digitalization aimed at improving turn times, crew productivity and reducing disruption costs (disruption costs reduced by c. GBP 50m last year).
EasyJet Holidays Distribution and Product Enhancements
Plans to expand hotel inventory from 8,000 to 13,000, introduce a flight+hotel proposition integrated into airline booking flow, sign up 500 travel agents in the Berlin catchment and launch a new loyalty program next year to drive engagement and repeat bookings.
GB:EZJ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GB:EZJ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 21, 2026 | 347.10 p | 350.30 p | +0.92% |
Jan 29, 2026 | 462.94 p | 460.51 p | -0.53% |
Nov 25, 2025 | 467.52 p | 460.41 p | -1.52% |
May 22, 2025 | 549.46 p | 535.06 p | -2.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does EasyJet (GB:EZJ) report earnings?
EasyJet (GB:EZJ) is schdueled to report earning on Jul 23, 2026, TBA (Confirmed).
What is EasyJet (GB:EZJ) earnings time?
EasyJet (GB:EZJ) earnings time is at Jul 23, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of EasyJet stock?
The P/E ratio of EasyJet is N/A.
What is GB:EZJ EPS forecast?
Currently, no data Available