Corporacion America Airports Reports Q2 Earnings with Mixed Performance
Corporacion America Airports (NYSE:CAAP) reported second-quarter adjusted EBITDA of $160 million, a 4.5% decline year-over-year due to weaker performance in Argentina and Uruguay expenses offsetting growth elsewhere. Passenger traffic remained stable at around 21 million with international travel up nearly 6%, while domestic traffic dropped by about 8%. Revenue increased by 8%, driven by higher commercial revenue and per-passenger income. The company ended the quarter with $861 million in liquidity, a net leverage ratio of 0.5 times, and approved cash dividends totaling $150 million or approximately $0.91 per share. Management anticipates support from international demand, new routes, and Uruguay initiatives for the second half but faces headwinds including Argentine capacity constraints and runway maintenance. CEO Martín Eurnekian noted that four of six operating segments delivered double-digit EBITDA growth during Q2 despite challenges in Argentina due to reduced airline capacity. International passenger demand remained strong across most markets, with revenue outpacing volume growth.
Tickers: $CAAP
Topics: airports dividends ebitda passenger_traffic