Corporacion Am Stock Price, News & Analysis

Copración América Airports S.A. (NYSE: CAAP) reported a significant 42.7% year-on-year increase in passenger traffic for January 2023, reaching 90% of pre-pandemic levels. Notable increases were reported in Armenia and Ecuador, exceeding January 2019 levels, while Argentina and Brazil reached 93% and 85% respectively. The company facilitated 6.5 million passengers overall, with domestic and international traffic recovering strongly. Cargo volume increased 5.1% year-on-year, while total aircraft movements rose 36.1%, highlighting a continuous recovery in travel demand across operations.

Corporación América Airports S.A. (CAAP) reported a significant 30.5% increase in December 2022 passenger traffic compared to 2021, achieving 87.2% of pre-pandemic levels from December 2019. Domestic passenger traffic grew 15.7% year-over-year, while international passengers surged 74.3%. Notably, traffic in Armenia exceeded pre-pandemic levels for the eighth month in a row, reaching 147.7%. Conversely, passenger traffic in Brazil fell 2.5% year-over-year. Cargo volume saw a minor uptick of 1.6% year-over-year but remained 10.6% below December 2019 figures. Overall, aircraft movements rose 20.0%, nearing 96.2% of December 2019 levels.

Corporación América Airports S.A. (CAAP) reported a 34.5% year-over-year increase in total passenger traffic for November 2022, reaching 87.4% of November 2019 levels. Domestic passenger traffic rose to 96.9% of pre-pandemic figures, while international traffic hit 81.7%. In Armenia, passenger traffic exceeded pre-pandemic numbers for seven consecutive months, at 141.1% of November 2019 levels. Cargo volume increased by 0.7% year-over-year, reaching 74.2% of November 2019 levels. Overall, CAAP's recovery trajectory continues, reflecting improved travel demand and operational efficiencies.

Corporación América Airports S.A. (NYSE: CAAP) reported its 3Q22 results, showcasing a significant revenue increase of 111.6% YoY, totaling $395.5 million, driven by growth in Aeronautical and Commercial revenues. Passenger traffic surged by 78.6% to 18.7 million, achieving 82.4% of 3Q19 levels. Adjusted EBITDA rose to $131.1 million, exceeding pre-pandemic levels by 31%. Notably, net debt to LTM Adjusted EBITDA improved to 2.6x, reflecting effective cost management and revenue recovery. The company anticipates continued growth in passenger traffic amid a recovering economic environment.

Corporación América Airports S.A. (NYSE: CAAP) reported a 51.1% year-over-year increase in passenger traffic for October 2022, reaching 88.3% of October 2019 levels. Notably, passenger traffic in Armenia and Ecuador exceeded pre-pandemic levels, while Argentina achieved 93%. Total domestic and international traffic also improved, with Argentina showing a significant 112.4% increase year-over-year. Cargo volume rose slightly by 0.6% year-over-year. Overall, the report reflects a sustained recovery in travel demand across the company's global operations.

Corporación América Airports (NYSE: CAAP) is set to release its Third Quarter 2022 results on November 17, 2022, after market closes. A conference call will be held the following day, November 18, 2022, at 10:00 AM ET with executives including CEO Martín Eurnekian and CFO Jorge Arruda. The company, which operates 53 airports across Latin America and Europe, served 35.7 million passengers in 2021, reflecting a 57.6% decline from pre-pandemic levels of 84.2 million in 2019. For more details, visit their investor relations website.

Corporación América Airports (NYSE: CAAP) has been named the preferred bidder by the Federal Government of Nigeria for the concessions of Abuja and Kano airports. The consortium, which includes Corporación América as a 51% stakeholder, achieved scores of 87.69% and 82.57% in technical and financial bids, respectively. This marks the beginning of negotiations for the final concession agreements. If finalized, this deal would expand CAAP's portfolio to 55 airports across seven countries.

Corporación América Airports S.A. (NYSE: CAAP) reported a 63.5% year-over-year increase in passenger traffic for September 2022, reaching 85.4% of pre-pandemic levels. Domestic and international traffic surged, particularly in Argentina, which saw a 139.3% YoY increase. Cargo volumes also rose by 4.7% YoY, totaling 29.0 thousand tons, though still below 2019 levels. Aircraft movements increased by 36.5% YoY, reflecting strong recovery trends across its operations in Latin America and Europe. Key metrics indicate a solid rebound in travel demand as restrictions eased.

Corporación América Airports (NYSE: CAAP), a global leader in airport concessions, will participate in the XVI Santander Eurolatam Utilities & Infrastructure Conference on September 29, 2022, at the Intercontinental Barclays Hotel in New York. The company currently operates 53 airports across Latin America and Europe and served 35.7 million passengers in 2021, down from 84.2 million in 2019. For more details, visit the investor relations site.