Corporación América Airports Q2 revenue beats estimates

Overview

• Corporación América Airports Q2 revenue grows 18.9% YoY, beating analyst expectations, per LSEG data

• The airport operator's adjusted EBITDA for Q2 rises 25.5%, surpassing estimates, per LSEG data

• Operating income for Q2 missed analyst expectations, per LSEG data

Outlook

• Company expects positive traffic momentum in Argentina to continue

• Strong summer seasons anticipated in Italy and Armenia

• Company advancing commercial initiatives to grow non-aeronautical revenues

• Strategic investments pursued in Argentina and Italy

Result Drivers

• PASSENGER TRAFFIC - 13.7% increase in passenger traffic, with Argentina leading performance

• COMMERCIAL REVENUE - 22% increase in commercial revenues driven by non-aeronautical initiatives

• COST CONTROL - Adjusted EBITDA margin expansion supported by operating leverage and disciplined cost control

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the airport operators & services peer group is "buy"

• Wall Street's median 12-month price target for Corporacion America Airports SA is $22.90, about 9.3% above its August 19 closing price of $20.77

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBw84JWnka