Ryanair (RYAAY) reported fiscal Q1 earnings Monday of 0.51 euros ($0.58) per diluted share, down from 0.77 euros a year earlier.

Analysts polled by FactSet expected 1.19 euros.

Revenue for the fiscal year ended June 30 was 4.38 billion euros, up from 4.34 billion euros a year earlier.

Analysts polled by FactSet expected 4.42 billion euros.

For fiscal 2027, the company expects traffic to grow 4% year-over-year to 216 million passengers, it said.

Shares of the company were down more than 3% in premarket activity.