Group 1 - The article discusses the resilience of a company's growth story despite potential challenges such as tariffs [1] - The author, Ian Bezek, has extensive experience in Latin American markets and focuses on high-quality growth stocks [2] - The company has a beneficial long position in shares of CAAP, PAC, and OMAB, indicating confidence in these investments [3]

Group 1 - Global air traffic has not only recovered but is also showing new dynamics of growth, indicating a positive trend in the aviation industry [1] - Corporación América Airports (NYSE: CAAP) is positioned as a unique platform to capture value in this growing market [1]

Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. ANA Holdings Inc. (ALNPY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.ANA Holdings Inc. is one of 124 individual stocks in the Transportation sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. T ...

Core Viewpoint - The article emphasizes the importance of value investing and highlights Corporacion America Airports (CAAP) as a strong value stock based on various financial metrics [2][4][7]. Company Analysis - Corporacion America Airports (CAAP) has a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong potential for investment [4]. - CAAP's current P/E ratio is 10.50, which is lower than the industry average of 10.80, suggesting it may be undervalued [4]. - The Forward P/E ratio for CAAP has fluctuated between 8.09 and 20.22 over the past 52 weeks, with a median of 13.58 [4]. - The PEG ratio for CAAP is 0.63, which is lower than the industry average of 0.82, indicating a favorable valuation relative to expected earnings growth [5]. - CAAP's P/B ratio stands at 2.28, compared to the industry average of 3.38, further supporting the notion of being undervalued [6]. - Over the past 12 months, CAAP's P/B ratio has ranged from 1.61 to 2.45, with a median of 2.04 [6]. - Overall, the financial metrics suggest that CAAP is likely undervalued and has a strong earnings outlook, making it a notable value stock in the market [7].

Corporacion America Airports S.A. (NYSE:CAAP) Q1 2025 Earnings Conference Call May 23, 2025 10:00 AM ET Company Participants Patricio Inaki Esnaola - Head of Investor Relations Martin Eurnekian - Chief Executive Officer Jorge Arruda - Chief Financial Officer Conference Call Participants Fernanda Recchia - BTIG Alejandro Demichelis - Jefferies Stephen Trent - Citi Operator Good morning, and welcome to the Corporacion America Airports First Quarter 2025 Conference Call. A slide presentation accompanies today' ...

Financial Data and Key Metrics Changes - Total passenger traffic grew by over 7% year over year, exceeding 9% when excluding the discontinued Natal concession [5][6] - Revenues increased by 6% year over year, and nearly 12% on an ex IAS 29 basis [6][19] - Adjusted EBITDA reached $156 million, up 4% excluding IAS 29, with a margin of 38.2% [7][24] - Total revenues ex IFRIC 12 increased by 6.4% year on year or 11.5% on an ex IAS 29 basis [19] - Total costs and expenses excluding IFRIC 12 rose by 17.7% year over year [22] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 6.8% year over year, or 12.7% when excluding IAS 29, driven by strong performance in Argentina [20] - Commercial revenues grew by 6.1% year over year, primarily from parking facilities, VIP lounges, and duty-free stores [21] - Cargo volumes were up 9% year over year, with strong growth in Uruguay and Argentina [17][18] Market Data and Key Metrics Changes - In Argentina, passenger traffic rose over 12%, with international traffic increasing by 21% year over year [10][11] - Italy saw traffic growth of over 10%, with international traffic accounting for roughly three-quarters of total volume [12] - Brazil experienced mid-single-digit traffic growth year over year, with international traffic up 28% [13] - In Uruguay, total traffic increased in low single digits, benefiting from new international routes [14] Company Strategy and Development Direction - The company is focused on pursuing both organic and inorganic growth opportunities to expand its airport portfolio [26][30] - Ongoing negotiations with the Argentine government regarding the revision of the AA2000 concession agreement [30] - Expansion plans in Italy are progressing, with a positive environmental review for the Florence Master Plan [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of passenger demand, particularly in Argentina and Italy [28][44] - The company anticipates continued positive traffic trends, supported by new operations and strong demand [30][44] - Management remains committed to maintaining strict cost discipline, especially in Argentina [22][51] Other Important Information - The company closed the quarter with a liquidity position of $524 million and a net leverage ratio of 1.1 times [25][26] - Recent awards for operational excellence were received by Carrasco International Airport and Brasilia Airport, highlighting the company's commitment to quality service [31][32][33] Q&A Session Summary Question: Information on the Montenegro proposal and traffic outlook for Argentina - Management provided details on the Montenegro proposal, highlighting its potential for tourism growth and targeting mid-teens IRR [39][41] - Traffic in Argentina is expected to remain strong, with several new routes starting operations [43][44] Question: Cost control initiatives and potential impacts of government changes in Argentina - Management discussed ongoing cost control measures and the expectation of normalized cost growth in line with inflation [51][52] - The impact of government changes on the concession process is uncertain, but management does not foresee significant delays [55][56] Question: Update on expansions in Italy - Management indicated that the environmental impact approval process is progressing well, with updates expected by the third quarter [67][68]

Financial Data and Key Metrics Changes - Total passenger traffic grew by over 7% year over year, exceeding 9% when excluding the discontinued Natal concession [5][6] - Revenues increased by 6% year over year, and nearly 12% on an ex IAS 29 basis [6][21] - Adjusted EBITDA reached $156 million, up 4% excluding IAS 29, with a margin of 38.2% [7][25] - Total revenues ex IFRIC 12 increased by 6.4% year on year or 11.5% on an ex IAS 29 basis [21] - Total costs and expenses excluding IFRIC 12 rose by 17.7% year over year [24] Business Line Data and Key Metrics Changes - Domestic traffic increased by 4% year over year, or nearly 8% when excluding Natal [9] - International traffic rose by close to 13% year over year, with Argentina and Italy leading the growth [10] - Aeronautical revenues were up 6.8% year over year, or 12.7% when excluding IAS 29, driven by strong performance in Argentina [22] - Commercial revenues increased by 6.1% year over year, primarily from parking facilities and duty-free stores [23] Market Data and Key Metrics Changes - In Argentina, passenger traffic rose over 12%, with domestic traffic growing by 9% and international traffic increasing by 21% [10][12] - Italy saw traffic up over 10%, with domestic traffic growing over 17% year over year [13] - Brazil experienced mid-single-digit growth in traffic year over year, with international traffic growing by 28% [14] - In Uruguay, total traffic was up low single digits, benefiting from new international routes [15] Company Strategy and Development Direction - The company is focused on pursuing both organic and inorganic growth opportunities to expand its airport portfolio [29][33] - Ongoing negotiations with the Argentine government regarding the revision of the AA2000 concession agreement [32] - Expansion plans in Italy are progressing, with a positive environmental review for the Florence Master Plan [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of passenger demand, particularly in Argentina and Italy, with expectations for continued positive traffic trends [31][45] - The company anticipates a strong summer season in both Italy and Armenia [34] - Management highlighted the importance of maintaining strict cost discipline, especially in Argentina [24][52] Other Important Information - The company closed the quarter with a total liquidity position of $524 million and a net leverage ratio of 1.1 times [28][29] - Cargo volumes increased by 9% year over year, with a new cargo business model implemented in Argentina [18][20] Q&A Session Summary Question: Information on the Montenegro proposal and traffic outlook for Argentina - Management provided details on the Montenegro proposal, highlighting its potential for tourism growth and targeting mid-teens IRR [42][43] - Traffic in Argentina is expected to remain strong, supported by new routes and healthy demand [45] Question: Cost control initiatives and potential impacts from government changes in Argentina - Management discussed ongoing cost control measures and expected normalized cost increases, emphasizing a focus on maintaining costs despite inflation [52] - The impact of government changes on the concession process is uncertain, but management does not foresee significant delays [58] Question: Update on expansions in Italy - Management indicated that the environmental impact approval process is progressing well, with expectations for updates by the third quarter [74]

FIRST QUARTER 2025 EARNINGS CALL PRESENTATION MAY 23, 2025 → OPENING REMARKS → KEY HIGHLIGHTS → TRAFFIC & CARGO TRENDS → FINANCIAL TRENDS → CLOSING REMARKS → Q&A → APPENDIX CORPORACION AMERICA AIRPORTS CORPORACIÓN AMÉRICA AIRPORTS 2 Disclaimer and Forward-Looking Statement Statements relating to our future plans, projections, events or prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include all statements that a ...

Core Insights - The global trade war has negatively impacted many stocks in the past quarter, but a stealth bull market is emerging in certain overseas stocks, particularly in Latin America, which has significantly outperformed in 2025 [1]. Group 1 - Latin American equities have shown strong performance, indicating potential investment opportunities in this region [1]. - The article suggests that despite broader market challenges, specific sectors or regions may still present favorable conditions for investors [1]. Group 2 - The investing group led by Ian offers various features including market analysis, trade alerts, and direct access to insights, which can be beneficial for investors looking for new opportunities [2]. - Ian Bezek, with a decade of experience in Latin America, provides valuable on-the-ground research for investors interested in markets like Mexico, Colombia, and Chile [3].

Corporacion America Airports S.A. (CAAP) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual i ...