CAAP

This article first appeared on GuruFocus. Release Date: May 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Passenger traffic increased by 7% year-over-year, with strong international travel growth, particularly in Argentina. Revenue growth outpaced passenger traffic, with a 19% increase in total revenues, driven by strong performance in Argentina, Armenia, and Brazil. Adjusted EBITDA increased by 26%, with margin expansion supported by disciplined cost management and strong revenue growth. The company maintained a strong balance sheet with declining leverage, providing flexibility for investments and potential dividend policy implementation. Significant progress in strategic initiatives, including a 35-year concession extension in Armenia and ongoing discussions for new opportunities in Iraq and Angola. Domestic traffic was stable, with some regions like Argentina and Italy experiencing capacity constraints and operational disruptions. Higher fuel costs in Armenia and increased concession fees contributed to a 13% rise in total costs and expenses. SG&A expenses increased by 19%, driven by higher salaries and service fees related to new business activities. Despite strong overall performance, Italy's adjusted EBITDA growth was modest at 4%, impacted by construction services. Geopolitical tensions in the Middle East affected Armenia's traffic, although the impact was less severe than anticipated. Warning! GuruFocus has detected 9 Warning Signs with TRMD. Is CAAP fairly valued? Test your thesis with our free DCF calculator. Q: Are you seeing any changes in demand across your portfolio due to high fuel prices or airfare tickets? A: (CFO) We haven't seen any impact on demand across our portfolio due to high fuel prices or airfare tickets. Most airlines are hedged for several months on oil prices. In Armenia, traffic with the Middle East was down, but overall growth in other markets compensated for this. We continue to monitor the situation closely. Q: Can you provide more details on the potential dividend policy framework? A: (CFO) We are in the process of discussing a dividend policy internally and with our board. Our portfolio is performing well and generating cash, some of which is being upstreamed to the holding company. We will update the market soon on how and when we plan to implement a dividen...

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Revenue growth of 19% significantly outpaced the 7% increase in passenger traffic, driven by a 14% surge in high-value international travel and enhanced commercial monetization. Management attributed strong profitability to operating leverage, where higher revenues flowed through a disciplined cost base, particularly in Argentina and Armenia. In Argentina, the company successfully mitigated inflationary pressures by keeping cost increases well below revenue growth, despite inflation outpacing peso depreciation by 40 percentage points. Commercial revenue per passenger rose 11% to $22.70, reflecting strategic focus on VIP lounges, duty-free, and food and beverage services across the portfolio. The Armenia business demonstrated resilience against regional geopolitical tensions, with growth supported by the new Wizz Air base and expanded European connectivity. Brazil's performance benefited from a stabilized aviation sector environment, leading to a 44% increase in adjusted EBITDA and significant margin expansion. Management is evaluating the implementation of a formal dividend policy, supported by a net leverage ratio of 0.5x and consistent cash flow generation. The company committed to a $425 million investment program in Armenia following a 35-year concession extension, aimed at establishing Zvartnots as a regional hub. Guidance for the remainder of the year assumes continued strength in international demand, though management is monitoring potential airline capacity impacts from Middle East volatility. Strategic expansion remains focused on the Luanda and Baghdad awards, with management indicating that upcoming M&A opportunities will require only marginal equity contributions. In Italy, management expects to secure all necessary authorizations by year-end 2026 to commence major construction projects. Domestic traffic in Argentina and Italy faced headwinds from airline capacity constraints, operational disruptions, and a 24-hour nationwide strike in Argentina during February. Armenia's EBITDA margin was impacted by a higher revenue mix from the fuel business, which carries structurally lower margins than core airport operations. Security concerns in Ecuador persist, though international traffic remains robust...

Interested in Corporacion America Airports S.A.? Here are five stocks we like better. Corporacion America Airports posted a strong Q1, with passenger traffic up 7%, revenue excluding IFRIC 12 up 19%, and adjusted EBITDA up 26% as international travel drove growth across its airport network. Revenue growth outpaced traffic, helped by higher aeronautical and commercial revenue; revenue per passenger rose to $22.70 from $20.50 a year ago, while margins improved as costs rose more slowly than revenue. The company ended the quarter with a stronger balance sheet, including $772 million in liquidity and lower net debt, and said it is internally discussing a dividend policy while also advancing major concessions and expansion plans in Armenia, Angola, Iraq and other markets. Corporacion America Airports (NYSE:CAAP) reported a strong start to 2026, with first-quarter passenger traffic, revenue and profitability all increasing year over year as international travel remained the main driver across its airport portfolio. Chief Executive Officer Martín Eurnekian said the company saw “solid traffic growth, continued revenue momentum, strong profitability, and further strengthening of our balance sheet” during the quarter. Passenger traffic rose 7% year over year to nearly 22 million travelers, while total revenue excluding IFRIC 12 increased 19%, nearly three times the pace of passenger growth. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? Chief Financial Officer Jorge Arruda said revenue per passenger increased 11% to $22.70 from $20.50 a year earlier. Adjusted EBITDA excluding IFRIC 12 rose 26% to $196 million, and the company’s margin expanded 2.3 percentage points. Eurnekian said international traffic increased nearly 14% in the quarter, with gains across all countries in the company’s portfolio and double-digit growth in Argentina, Italy and Ecuador. Domestic traffic was broadly stable, with growth in Brazil and Ecuador offsetting softer volumes in Argentina and Italy. → MP Materials Is Quietly Building a Rare Earth Powerhouse In Argentina, total passenger traffic increased nearly 6%. International traffic rose 19%, supported by routes involving Brazil and the Caribbean, along with demand during the summer and carnival periods. Domestic traffic declined slightly, reflecting temporary airline fleet constraints and a 24-hour nationwide strike...

Corporacion America Airports (CAAP) reported Q1 earnings Wednesday of $0.47 per basic share, up from

Corporacion America Airports S.A. (CAAP) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -7.84%. A quarter ago, it was expected that this company would post earnings of $0.37 per share when it actually produced earnings of $0.65, delivering a surprise of +75.68%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Corporacion America Airports, which belongs to the Zacks Transportation - Airline industry, posted revenues of $520.6 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.30%. This compares to year-ago revenues of $446.2 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Corporacion America Airports shares have lost about 4.1% since the beginning of the year versus the S&P 500's gain of 8.1%. While Corporacion America Airports has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Corporacion America Airports was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market...

Corporacion America (NYSE:CAAP) released first-quarter financial results and hosted an earnings call on Wednesday. Read the complete transcript below. This transcript is brought to you by Benzinga APIs. For real-time access to our entire catalog, please visit https://www.benzinga.com/apis/ for a consultation. View the webcast at https://events.q4inc.com/attendee/311785257 Corporacion America reported strong financial performance in Q1 2026, with a 7% increase in passenger traffic and a 19% rise in total revenues, driven by international travel growth, particularly in Argentina. The company achieved a 26% increase in adjusted EBITDA with margin expansion, supported by strong contributions from Argentina, Armenia, and Brazil, while maintaining a strong balance sheet and reducing net debt. Strategic highlights include a 35-year concession extension in Armenia with a new investment program, ongoing engagements in Iraq and Angola, and potential introduction of a dividend policy due to strong cash flow and financial flexibility. OPERATOR Good morning and welcome to Corporacion America Airports first quarter 2026 conference call. A slide presentation accompanies today's webcast and is available in the Investor section of the company's website. As a reminder, all participants are in listen only mode. There will be an opportunity to ask questions at the end of the presentation. At this time I would like to turn the call over to Patricio I￱aki Esnola, Head of Investor Relations. Patricio, please go ahead. Patricio I￱aki Esnola Thank you. Good morning everyone and thank you for joining us today. Speaking during today's call will be Martina Ornequiano, our Chief Executive Officer and Jorge Arruda, our Chief Financial Officer. Before we proceed, I would like to make the following safe harbor statement. Today's call will contain forward looking statements and I refer you to the Forward Looking Statements SECtion of our earnings release and recent filings with the SEC. We assume no obligation to update or revise any forward looking statements to reflect new or changed events or circumstances. Please note that throughout this call, all references to revenues, cost, adjusted EBITDA and margin will refer to figures excluding IFRIC 12. Also, all comparisons discussed are year over year unless otherwise noted. I will now turn the call over to our CEO Martina Ornequianoo. Martin...

Strong top-line growth with double-digit increases in Aeronautical and Commercial revenues Achieved double-digit YoY growth in Adjusted EBITDA ex-IFRIC with margin expanding 2.3pp Maintained robust liquidity with $666 million in Cash & Cash Equivalents and Net Debt to LTM Adjusted EBITDA of 0.5x LUXEMBOURG, May 13, 2026--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), ("CAAP" or the "Company") one of the leading private airport operators in the world, reported today its unaudited, consolidated results for the three-month period ended March 31, 2026. Financial results are expressed in millions of U.S. dollars and are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board ("IASB"). Commencing 3Q18, the Company began reporting results of its Argentinean subsidiaries applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 ("IAS 29"), as detailed in Section "Hyperinflation Accounting in Argentina" on page 22. First Quarter 2026 Highlights Consolidated Revenues ex-IFRIC12 reached $495.2 million, up 18.8% year-over-year (YoY), driven by increases of 21.0% and 17.4% in Commercial and Aeronautical revenues, respectively. Excluding rule IAS 29 (ex-IAS29), consolidated revenues ex-IFRIC12 increased 15.5% YoY to $477.9 million. Key operating metrics: 7.0% increase in passenger traffic to 21.8 million. 1.7% increase in cargo volume to 95.2 thousand tons. 3.5% increase in aircraft movements to 213.5 thousand. Operating Income of $139.5 million, compared with $104.0 million in 1Q25. Adjusted EBITDA ex-IFRIC12 increased 26.1% to $196.2 million, from $155.6 million in the year-ago period. Excluding the impact of rule IAS 29, Adjusted EBITDA ex-IFRIC12 rose 18.7% to $187.4 million. Adjusted EBITDA margin ex-IFRIC12 expanded 2.3 percentage points to 39.6% from 37.3% in 1Q25. Adjusting for rule IAS 29, Adjusted EBITDA margin ex-IFRIC12 increased to 39.2% from 38.2% in the prior-year quarter. Maintained strong liquidity position with $666.2 million in Cash & Cash equivalents as of March 31, 2026. Net debt to LTM Adjusted EBITDA of 0.5x as of March 31, 2026. CEO Message Commenting on the results for the quarter Mr. Martín Eurnekian, CEO of Corporación América Airports, noted: "We delivered a strong start to 2026, with broad-based growth across our airport network and...

LUXEMBOURG, May 07, 2026--(BUSINESS WIRE)--Corporaci￳n Am￩rica Airports S.A. (NYSE: CAAP), one of the leading private airport operators in the world, today announced that it will report its First Quarter 2026 results on Wednesday, May 13, before market opens. We remind all participants to connect through the telephone in order to ask questions. Earnings Release Wednesday, May 13, 2026 Time: Before Market Opens Conference Call Wednesday, May 13, 2026 Time: 10:00am Eastern Time Executives Mr. Mart￭n Eurnekian, Chief Executive Officer Mr. Jorge Arruda, Chief Financial Officer Mr. Patricio I￱aki Esnaola, Head of Investor Relations To participate, please dial in 1-646-307-1963 (North America, International Toll Free) 1-800-715-9871 (North America, Toll Free) Conference ID: 1462327 Webcast (click here) Recording Playback Numbers 1-800-770-2030 (North America, Toll Free) 1-609-800-9909 (US Toll) Playback Passcode: 1462327 # About Corporaci￳n Am￩rica Airports Corporaci￳n Am￩rica Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2025, Corporaci￳n Am￩rica Airports served 86.7 million passengers, 9.8% above the 79.0 million passengers served in 2024. The Company is listed on the New York Stock Exchange where it trades under the ticker "CAAP". For more information, visit http://investors.corporacionamericaairports.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507192636/en/ Contacts Investor Relations Contact Patricio I￱aki Esnaola Email: [email protected] Phone: +5411 4899-6716

LUXEMBOURG, April 10, 2026--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP) ("CAAP" or the "Company"), one of the world’s leading private airport operators, announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 (the "2025 Annual Report") with the U.S. Securities and Exchange Commission (the "SEC"). The 2025 Annual Report is available on the SEC’s website at www.sec.gov and on the Company’s investor relations website at http://investors.corporacionamericaairports.com/. Shareholders may receive a hard copy of the Company’s complete audited financial statements free of charge by requesting a copy from [email protected]. About Corporación América Airports Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2025, Corporación América Airports served 86.7 million passengers, 9.8% above the 79.0 million passengers served in 2024. The Company is listed on the New York Stock Exchange where it trades under the ticker "CAAP". For more information, visit http://investors.corporacionamericaairports.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260410168022/en/ Contacts Investor Relations Contact Patricio Iñaki Esnaola Email: [email protected] Phone: +5411 4899-6716

Corporación América Airports S.A. recently reported fourth-quarter 2025 results showing sales of US$562.61 million and net income of US$107.74 million, alongside record quarterly passenger traffic of 22.3 million and ongoing traffic growth into early 2026. Beyond the headline earnings, the company’s new airport concessions in Iraq and Angola and long-term extensions in Armenia and the Galápagos have expanded its concession portfolio and lengthened its revenue visibility. We’ll now examine how this combination of strong fourth-quarter profitability and new long-term concessions could influence Corporación América Airports’ investment narrative. Find 49 companies with promising cash flow potential yet trading below their fair value. To own Corporación América Airports, you need to be comfortable with an airport operator whose growth story is tied to rising passenger volumes and disciplined execution on long-term concessions, particularly in more volatile markets. The latest Q4 2025 results confirm solid profitability and traffic momentum, which supports the near term catalyst around operational performance, but they do not remove the key risk that Argentina’s economic and inflation backdrop could still pressure margins and consolidated earnings. The extension of the Armenia concession by 35 years to 2067, alongside a US$425 million investment commitment, is especially relevant here because it lengthens CAAP’s contracted revenue horizon outside Argentina while adding future capital requirements. For investors focused on catalysts, this type of long-dated concession can improve revenue visibility and diversification, but it also ties the company more tightly to execution and refinancing risks in its expansion program. Yet investors should be aware that Argentina’s inflation, currency and regulatory setting could still... Read the full narrative on Corporación América Airports (it's free!) Corporación América Airports' narrative projects $2.1 billion revenue and $472.1 million earnings by 2028. This requires 3.6% yearly revenue growth and about a $320.7 million earnings increase from $151.4 million today. Uncover how Corporación América Airports' forecasts yield a $31.17 fair value, a 22% upside to its current price. Three Simply Wall St Community fair value estimates for CAAP span from US$11.09 to about US$63.79, showing wide disagreement on upside. When you wei...

Record passenger traffic of 22.3 million in Q4 was driven by broad-based growth across key markets, with Argentina, Armenia, Italy, and Uruguay setting annual records. Revenue growth of 17% significantly outpaced the 9% traffic increase, attributed to higher revenue per passenger and strong performance in commercial segments like cargo, fuel, and VIP lounges. Adjusted EBITDA growth of 40% was supported by operating leverage and effective cost controls, particularly in Argentina where margins expanded by 7.5 percentage points. Strategic visibility was enhanced through a 35-year concession extension in Armenia and a six-year extension in Galapagos, Ecuador. The company achieved its strongest balance sheet in history, ending the year with a net leverage ratio of 0.7x, providing significant flexibility for future growth. International traffic growth of 12% outpaced domestic trends, bolstered by route reactivations and increased frequencies from major global carriers. Management expects continued positive momentum in passenger traffic, specifically citing strong early performance in January and February across the portfolio. The company is pursuing inorganic growth through awarded concessions in Iraq and Angola, though timelines for these projects remain subject to definitive agreements and geopolitical stability. Capital allocation will prioritize portfolio expansion using existing liquidity, with active evaluations of M&A opportunities in the Middle East, Central Asia, Africa, and the Americas. Commercial optimization remains a priority, with management focusing on sustaining growth in revenue per passenger through VIP services, parking, and fueling operations. The company is monitoring the geopolitical situation in the Middle East for potential implications on international travel, noting recent flat growth in Armenia due to regional conflict. Q4 2025 results included a $32,500,000 positive EBITDA impact from an arbitration award payment received from the government of Peru. Year-over-year EBITDA comparisons in Brazil were impacted by a $110,000,000 COVID-related economic breakeven payment received in the prior year (Q4 2024). The Armenia concession extension includes a committed $425,000,000 investment program for infrastructure upgrades. Currency fluctuations, specifically the appreciation of the Uruguayan peso, acted as a headwind to margins in the Uruguay...