Financial Performance - Consolidated revenues ex-IFRIC12 for Q3 2024 were $404.7 million, a decrease of 4.2% year-over-year, with commercial revenues down 6.6% and aeronautical revenues down 1.5%[7]. - Adjusted EBITDA ex-IFRIC12 decreased by 15.9% to $145.4 million, with an adjusted EBITDA margin of 35.9%, down from 40.9% in Q3 2023[7]. - Operating income for Q3 2024 was $100.9 million, down from $131.7 million in Q3 2023, reflecting a decrease in operating margin to 21.9%[7][8]. - Net income attributable to owners of the parent decreased by 68.4% to $14.7 million, with EPS dropping to $0.09 from $0.29 in Q3 2023[8][10]. - Total revenue for Q3 2024 was $238.6 million, a decrease of 3.1% year-over-year, primarily due to a 12.7% decline in commercial revenues[70]. - Total expenses for 3Q24 were $484.2 million, reflecting an 8.1% increase from $448.0 million in Q3 2023[147]. - Income tax expense surged to $80.6 million in Q3 2024, compared to $18.5 million in the same quarter last year[47]. - Financial loss for 9M24 was reported at -$153.1 million, a drastic change from a gain of $154.9 million in 9M23[149]. Passenger Traffic - Total passenger traffic declined by 3.9% year-over-year to 21.3 million, with domestic traffic in Argentina down 11.3% and international traffic up 9.9%[13][14]. - Domestic passenger traffic fell by 12.7% YoY to 10,628 thousand, while international passengers increased by 6.3% to 8,723 thousand, resulting in a total passenger decrease of 3.9% to 21,336 thousand[24]. - Domestic passenger traffic in Argentina decreased by 11.3% to 7,187,000 in Q3 2024 compared to Q3 2023[161]. - International passenger traffic in Argentina increased by 9.9% to 3,253,000 in Q3 2024 compared to Q3 2023[161]. - Total passenger traffic in Argentina decreased by 5.3% to 113,582,000 in Q3 2024 compared to Q3 2023[161]. - Total passenger traffic in Ecuador decreased by 3.6% YoY to 1.2 million passengers, with domestic traffic down 9.7% and international traffic up 2.8%[111]. Revenue Breakdown - Aeronautical revenues accounted for 46.2% of total revenues, decreasing by 1.5% YoY to $213.5 million, primarily due to reduced aircraft fees in Italy[33]. - Non-aeronautical revenues, which represent 53.8% of total revenues, decreased by 1.8% YoY to $248.3 million, with commercial revenues down by 6.6%[34]. - Commercial revenues decreased by 13.8% year-over-year, largely due to a 30.5% drop in Duty Free revenues attributed to the devaluation of the Argentine Peso[71]. - Aeronautical revenue for 9M24 was $659.1 million, reflecting an 11.7% increase from $590.0 million in 9M23[143]. - Non-aeronautical revenue increased by 3.9% to $710.7 million in 9M24, up from $683.8 million in 9M23[143]. Costs and Expenses - Total costs and expenses, excluding Construction Service Costs, increased by 5.4% YoY to $312.4 million, driven by higher maintenance expenses and salaries[36]. - Selling, General and Administrative Expenses (SG&A) rose by 13.3% YoY to $47.1 million, mainly due to increased services and fees[39]. - Total costs and expenses increased by 13.6% year-over-year to $211.6 million in Q3 2024, driven by higher service costs and SG&A expenses[72]. - Cost of services increased by 8.6% to $319.8 million in Q3 2024, compared to $294.6 million in Q3 2023[148]. Capital Expenditures and Investments - The company is progressing with capital expenditure programs in Armenia and Florence Airport, while also enhancing commercial revenues through new projects[5]. - Capital expenditures in Q3 2024 amounted to $58.0 million, a 21.7% year-over-year increase from $47.7 million in Q3 2023[61]. - The company plans to allocate capital expenditures primarily to the new departure terminal at Río Hondo Airport and ongoing construction at Aeroparque Airport[74]. - Capital expenditures in Italy increased by 87.4% YoY to $4.4 million in 3Q24[83]. Debt and Liquidity - The company reported a strong cash position of $511 million, with net debt to LTM adjusted EBITDA at 0.9x, down from 1.4x as of December 31, 2023[1][7]. - As of September 30, 2024, total debt decreased by 7.9% to $1,228.0 million from $1,333.2 million at the end of 2023[51]. - Cash and cash equivalents increased by 16.3% to $510.9 million from $439.4 million as of June 30, 2024[50]. - Total liquidity as of September 30, 2024, reached $604.9 million, up from $548.5 million as of June 30, 2024[50]. Market and Regulatory Environment - The regulator in Argentina approved a 124% increase in domestic passenger use fees effective November 1, which is expected to bolster revenues[6]. - The company noted that the exit of local airline Equair and high airfare prices impacted domestic travel demand[111]. Future Outlook - Future outlook includes continued focus on revenue growth in Uruguay and potential expansion strategies in other markets[27]. - The long-term strategy remains focused on disciplined capital deployment and seeking accretive acquisition opportunities[6].

Core Insights - The article emphasizes the importance of fundamental financial ratios and metrics in stock analysis, particularly in the tech sector, suggesting that simplicity in investment philosophy can yield clearer insights [1]. Group 1 - The analyst has a strong educational background in finance and economics, which contributes to a deep fascination with the stock market [1]. - The focus is on individual stock analysis, with a particular emphasis on market trends in the tech sector [1]. - The platform Seeking Alpha is highlighted as a valuable resource for connecting with a global community of investors and sharing ideas [1].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, leveraging established price movements for profitable trades [1] Company Overview: Corporacion America Airports S.A. (CAAP) - CAAP currently holds a Momentum Style Score of B, indicating a favorable momentum characteristic [1] - The company has a Zacks Rank of 1 (Strong Buy), which is associated with a strong historical performance in the market [2] Performance Metrics - Over the past week, CAAP shares increased by 6.43%, while the Zacks Transportation - Airline industry saw a decline of 0.11% [3] - In a longer timeframe, CAAP's monthly price change is 5.51%, outperforming the industry's 4.21% [3] - Over the past quarter, CAAP shares rose by 8.02%, and over the last year, they gained 57.63%, compared to the S&P 500's increases of 3.41% and 35.3%, respectively [3] Trading Volume - CAAP's average 20-day trading volume is 110,835 shares, which serves as a bullish indicator when combined with rising stock prices [4] Earnings Outlook - In the last two months, one earnings estimate for CAAP has increased, while none have decreased, raising the consensus estimate from $0.96 to $1.02 [5] - For the next fiscal year, one estimate has also moved upwards with no downward revisions [5] Conclusion - Given the positive performance metrics and earnings outlook, CAAP is positioned as a strong buy candidate with a Momentum Score of B, making it a potential pick for investors seeking short-term gains [5]

Financial Data and Key Metrics Changes - Total revenues ex-IFRIC12 remained stable year-on-year despite lower passenger traffic, with aeronautical revenues up 3% driven by higher international passenger traffic in Italy, Uruguay, and Argentina [10][11] - Adjusted EBITDA ex-IFRIC12 declined 9% year-on-year to $136 million, primarily due to challenges in Argentina, although Italy and Uruguay showed double-digit growth in adjusted EBITDA [12][14] - Total cost and expenses ex-IFRIC12 increased 6% year-on-year, reflecting inflationary pressures in Argentina [12] Business Line Data and Key Metrics Changes - Revenues per passenger ex-IFRIC12 increased 9% year-on-year to $20.1, indicating effective adaptation to market dynamics [11] - Commercial revenues decreased 3% year-on-year, impacted by lower cargo and duty-free revenues in Argentina [11] - Cargo volumes increased in the mid-single digits year-on-year, but cargo revenues declined 13% due to lower revenues in Argentina [9] Market Data and Key Metrics Changes - Total passenger traffic declined 5% year-on-year, with a 15% contraction in domestic traffic in Argentina, while international traffic increased by 8% [5][7] - In Italy, passenger traffic grew 14% year-on-year, driven by a 17% rise in international traffic [6] - In Uruguay, traffic increased by 11% due to new routes and frequencies [6] Company Strategy and Development Direction - The company is negotiating a $400 million CapEx plan with the Armenian government and seeking approval for a new master plan for Florence Airport in Italy [16] - The company is assessing expansion projects across various geographies to pursue value creation [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the positive dynamics in Uruguay and Italy continuing throughout the year, while domestic traffic in Argentina is expected to remain soft due to recession [17] - Recent open skies bilateral agreements are expected to enhance flexibility and stimulate growth in Argentina's aeronautical activities [17] Other Important Information - The company closed the quarter with a total liquidity position of $549 million, up $91 million from year-end 2023 [13] - The net leverage ratio improved to 1.1 times, down from 1.4 times at year-end [13] Q&A Session Summary Question: Update on discussions with airlines regarding new routes and higher frequency due to deregulation - Management is positive about the effects of deregulation and bilateral agreements on traffic growth, expecting significant long-term benefits [19][20] Question: Development of the cost base in Argentina for the rest of the year - Cost trends are expected to soften in the third quarter, with adjustments needed due to inflation [22] Question: Investment opportunities beyond Nigeria and Armenia - The company submitted a proposal for Luanda Airport in Angola and pre-qualification documents in Saudi Arabia, with other opportunities being explored [24] Question: Update on tariff discussions in Argentina - Domestic tariffs are expected to be adjusted soon, with a rebalancing of the economic equilibrium of the concession anticipated by the end of the year [28][30] Question: Update on the master plan discussion in Italy - The process is active, with a deadline for responses to questions set for October [29]

Second Quarter 2024 Earnings Call Presentation August 22, 2024 Second Quarter 2024 Disclaimer and Forward-Looking Statement | --- | --- | --- | |-------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Corporacion America (NYSE:CAAP) just reported results for the second quarter of 2024. Corporacion America reported earnings per share of 31 cents. This was below the analyst estimate for EPS of 32 cents. The company reported revenue of $416.20 million. This was 5.80% worse than the analyst estimate for revenue of $441.82 million. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including ...

Exhibit 99.1 Condensed Consolidated Interim Financial Statements At June 30, 2024 presented in comparative format Index Glossary of terms Condensed Consolidated Interim Financial Statements Consolidated Statements of Comprehensive Income Consolidated Statements of Financial Position Consolidated Statements of Changes in Equity Consolidated Statements of Cash Flows Notes to the Condensed Consolidated Interim Financial Statements Summary of Information requested by Resolution N° 368/01 of the National Securit ...

It's not been a great year for transportation stocks. There are several reasons for this. For one, the transportation ETF has investments in airlines and electric vertical takeoff and landing (eVTOL) companies, both of which have seen heavy volatility recently. In addition, broader macroeconomic concerns have caused investors to worry about falling freight volumes for cargo transportation companies. FedEx (NYSE:FDX) is a gigantic transportation company primarily engaged in parcel delivery services. With ann ...

Franco Ercolino/iStock Editorial via Getty Images Airport stocks are part of my coverage which includes aerospace, defense, airlines, airplane and engine lessors and airlines providing one of the broadest coverages available on Seeking Alpha for aerospace & defense and all related industries. In each of these industries, I am expanding my coverage. In this report, I am expanding my coverage for airport stocks by adding Corporacion America Airports (NYSE:CAAP) to my coverage. I believe that airport stocks pr ...

Corporación América Airports S.A. (NYSE:CAAP) Q1 2024 Earnings Conference Call May 23, 2024 10:00 AM ET Company Participants Patricio Iñaki Esnaola - Head of Investor Relations Martín Antranik Eurnekian - CEO Jorge Arruda - CFO Conference Call Participants Alejandro Demichelis - Jeffries Pedro Maulhardt - Latin Securities Stephen Trent - Citigroup Inc. Operator Good morning and welcome to the Corporación América Airports First Quarter 2024 Conference Call. A slide presentation accompanies today's webcast an ...