Corporación América Airports Q3 revenue up 14.2%
Overview
Corporación América Airports Q3 revenue grows 14.2% YoY
Adjusted EBITDA for Q3 beats consensus, reflecting operational performance
Company maintains strong liquidity with $540 mln in cash and equivalents
Outlook
Company expects positive traffic momentum to continue, with moderation in Argentina's domestic growth
Company anticipates solid fourth-quarter results, without third-quarter comparison benefits in Argentina
Corporación América Airports focuses on revenue per passenger growth and strengthening commercial offerings
Result Drivers
TRAFFIC GROWTH - Passenger traffic rose 9.3% YoY, supporting revenue growth
COMMERCIAL INITIATIVES - Revenue per passenger increased due to successful commercial strategies
MARKET PERFORMANCE - Strong performances in Argentina, Armenia, Brazil, and Italy boosted Adjusted EBITDA
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $527.30 mln |
|
Q3 Adjusted EBITDA | Beat | $196.80 mln | $174 mln (2 Analysts) |
Q3 Operating Income | Miss | $147 mln | $148.80 mln (3 Analysts) |
Q3 Adjusted EBITDA Margin |
| 37.30% |
|
Q3 Operating Margin |
| 27.90% |
|
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 $26.00, about 13.7% above its November 21 closing price of $22.44
Press Release: ID:nBw6gLcgpa
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