Key Takeaways CPA reported robust December traffic, with RPM rising 10.9% y/y on strong air travel demand. CPA expanded capacity in December, with ASM up 10% y/y to meet higher passenger volumes. CPA's load factor improved to 86% in December 2025, up from 85.3% a year earlier.Copa Holdings, S.A. (CPA) reported robust traffic numbers for December 2025 on the back of upbeat air travel demand. Driven by high passenger volumes, revenue passenger miles (RPM: a measure of traffic) improved on year-over-year basis ...

Core Insights - Copa Holdings reported a 10.0% increase in capacity (Available Seat Miles, ASMs) for December 2025 compared to December 2024, reaching 2,932.4 million ASMs [1][2] - The company experienced a 10.9% rise in system-wide passenger traffic (Revenue Passenger Miles, RPMs), totaling 2,521.0 million RPMs for the same period [1][2] - The load factor for December 2025 was 86.0%, which is an increase of 0.7 percentage points from December 2024 [1][2] Company Overview - Copa Holdings is a prominent provider of passenger and cargo services in Latin America, operating in North, Central, and South America, as well as the Caribbean [3]

Core Insights - The holiday season is a time for investors to reassess their finances and prepare for the upcoming year, with analysts making S&P 500 projections and gearing up for Q1 earnings [2] Group 1: SEI Investments Co. - SEI Investments is a $10 billion financial services firm transitioning from traditional wealth management to a "wealth-tech" company, providing technology solutions for banks and investors [4] - The SEI Wealth Platform is a key innovation helping legacy financial firms modernize, contributing to analysts' optimism about SEI's transformation [5] - Recent upgrades from Piper Sandler and Keefe, Bruyette, and Woods have moved SEI's stock rating from Neutral to Outperform, with Morgan Stanley raising its price target to $117, indicating a potential upside of nearly 23% [8] Group 2: Copa Holdings SA - Copa Holdings, with a market cap of $5.4 billion, is a significant player in the airline industry, benefiting from its strategic hub in Panama [10] - The company offers a dividend yield of 5.05% with a low payout ratio, and expects to expand capacity by up to 13% with new Boeing aircraft [11] - Analysts have rated Copa Holdings a Strong Buy, with an average price target of $160, suggesting potential upside of over 22% [14] Group 3: FB Financial Corp. - FB Financial, the parent of FirstBank, is focusing on high-growth southern markets following its acquisition by PNC Financial Services Group [15] - Analysts have given FB Financial Outperform ratings, with price targets ranging from $58 to $66, and the stock has already gained more than 5% at the start of 2026 [16] Group 4: Archrock Inc. - Archrock is an energy company specializing in natural gas compression equipment, generating recurring revenue from clients [19] - The company has a 3.27% dividend yield and a 55% payout ratio, making it attractive for income investors [20] - Archrock's stock has received a Strong Buy rating based on analyst upgrades, and it has recently broken above key moving averages, indicating positive momentum [22] Group 5: Serve Robotics Inc. - Serve Robotics is a $1.17 billion company focused on last-mile autonomous delivery, partnering with Uber Eats and DoorDash [23] - Analysts have set high price targets for Serve Robotics, with Oppenheimer rating it a Buy at $20 and Northland Capital Markets raising their target to $26 [25] - The stock has recently broken out of a downtrend, supported by positive technical indicators [25]

Core Insights - Copa Airlines celebrated its 20th anniversary of its IPO during the investor day in December, highlighting its growth and achievements over the past two decades [1] Company Performance - The company has successfully increased its operational and financial metrics since its IPO, demonstrating a strong track record in the airline industry [1]

Earnings Release Information - Copa Holdings, S.A. will release its earnings for the fourth quarter of 2025 on February 11, 2026, after the US market closes [1] - The earnings conference call and webcast are scheduled for February 12, 2026, at 11:00 AM US ET [1] Webcast and Replay Options - A webcast replay of the earnings conference will be available shortly after the conference for those unable to attend live [2] Company Overview - Copa Holdings is a leading provider of passenger and cargo services in Latin America, serving countries across North, Central, and South America, as well as the Caribbean [2]

Group 1: Company Performance - Copa Holdings (CPA) shares increased by 6.7% to close at $130.03, with notable trading volume compared to typical sessions, and a 2.4% gain over the past four weeks [1] - The airline's shares reached a new 52-week high, benefiting from improved air travel demand, with a 37% gain in 2025 and expected continued strong performance in 2026 due to high passenger revenues and fleet expansion [2] - The upcoming quarterly earnings are projected at $4.44 per share, reflecting an 11.3% year-over-year increase, with revenues expected to be $968.08 million, up 10.4% from the previous year [3] Group 2: Earnings Estimates and Trends - The consensus EPS estimate for Copa Holdings has been revised 1.5% lower in the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] - Copa Holdings currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [5] Group 3: Industry Comparison - Copa Holdings is part of the Zacks Transportation - Airline industry, where American Airlines (AAL) also holds a Zacks Rank of 3 (Hold) and saw a 2.3% increase in its last trading session [5][6] - American Airlines' consensus EPS estimate has increased by 39% over the past month to $0.38, although this represents a 55.8% decrease from the previous year's report [6]

Core Insights - Fidelity D & D Bancorp, Inc. has appointed James Clemente and Rocco A. DelVecchio to its Board of Directors, enhancing its leadership team with experienced professionals [2][5]. Group 1: Appointments - James Clemente has been appointed as a director of the Corporation until the 2028 annual meeting of shareholders, while Rocco DelVecchio will serve until the 2026 annual meeting [2]. - Clemente brings over 45 years of experience in accounting and consulting, specializing in taxation and business acquisitions [3]. - DelVecchio has extensive leadership experience in financial services, having previously served as a consultant for Fidelity Bank and held senior roles at another bank [4]. Group 2: Leadership Statements - Brian J. Cali, Chairman of the Board, emphasized Clemente's expertise in accounting and community involvement as vital for guiding Fidelity Bank's strategic direction [5]. - Daniel J. Santaniello, President & CEO, expressed confidence that the new directors' expertise will contribute to building long-term value for clients and communities [5]. Group 3: Company Overview - Fidelity Bank operates 21 full-service offices across several counties and offers a digital banking experience [6]. - The bank has a strong commitment to community service, having provided over 5,960 hours of volunteer time and over $1.5 million in donations to non-profits in 2024 [6].

Core Insights - Allegiant Travel Company (ALGT) reported a 10% increase in scheduled traffic for November 2025 compared to November 2024, with capacity rising by 9.5% year over year, resulting in a load factor increase to 80.5% from 80.2% [1][10] Group 1: Allegiant Travel Company Performance - Scheduled traffic, measured in revenue passenger miles, increased by 10% year over year in November 2025 [1] - Capacity, measured in available seat miles, rose by 9.5% compared to the previous year [1] - The load factor improved to 80.5%, indicating that traffic growth outpaced capacity expansion [1][10] - Total departures for scheduled services grew by 9.8% year over year in November 2025 [2] - The average stage length fell by 1.7% year over year [2] - Allegiant carried 10.4% more passengers in November 2025 compared to the same month last year [2][10] - System-wide capacity improved by 9.1% in October 2025 on a year-over-year basis [2] - Estimated fuel price per gallon in November 2025 was $2.76 [2] Group 2: Other Airline Companies Performance - Copa Holdings reported a 10% increase in available seat miles and a 10.2% increase in revenue passenger miles for November 2025 [5][6] - Copa's load factor rose to 86.2% from 86.1% year over year [6] - LATAM Airlines reported a 4.6% year-over-year increase in consolidated capacity and a 3.6% increase in consolidated traffic [8][9] - LATAM Airlines Brazil's domestic market saw a 12.1% year-over-year growth in traffic [9] - Ryanair transported 13.8 million passengers in November 2025, reflecting a 6% year-over-year increase, with a load factor of 92% remaining flat [12]

Core Viewpoint - Copa Holdings reported strong third-quarter earnings, surpassing expectations, but revenue slightly missed estimates, raising questions about future performance [3][4][11]. Financial Performance - Earnings per share for Q3 2025 were $4.20, exceeding the Zacks Consensus Estimate of $4.03, marking a 20% year-over-year improvement [3]. - Total revenues reached $913.1 million, a 6.8% increase year-over-year, but fell short of the expected $915 million [3]. - Passenger revenues, contributing 94.3% to total revenues, grew 5.2% year-over-year to $861.33 million, driven by an 8% increase in revenue passenger miles (RPMs) [4]. - Cargo and mail revenues increased by 21.4% year-over-year to $29.68 million, attributed to higher cargo volumes [4]. Operational Metrics - Copa Holdings' traffic, measured in RPMs, grew by 8%, while capacity, measured in available seat miles, increased by 5.8%, resulting in a load factor of 88%, up 1.8 percentage points [5]. - Revenue per available seat mile (RASM) grew by 1% year-over-year to 11.1 cents, while passenger revenue per available seat mile dipped by 0.5% to 10.5 cents [6]. - Total operating expenses rose by 2.9% year-over-year to $700.84 million, influenced by capacity growth but offset by lower fuel and maintenance costs [6]. Future Outlook - Management expects consolidated capacity to grow by 8% year-over-year, with an operating margin projected between 22-23% [9]. - For 2026, capacity is anticipated to grow by 11-13% year-over-year, with unit costs excluding fuel expected to be between 5.7 to 5.8 cents [10]. - Copa Holdings plans to end 2025 with 124 aircraft and 2026 with 132 aircraft [10]. Market Position - Copa Holdings has a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [13]. - The stock has an aggregate VGM Score of A, reflecting strong performance in value and momentum metrics [12].

Group 1: Copa Holdings, S.A. (CPA) - Copa Holdings reported robust traffic numbers for November 2025, driven by high passenger volumes and upbeat air travel demand, with revenue passenger miles (RPM) improving year-over-year [1][10] - To meet the increased demand, Copa Holdings increased its capacity, with available seat miles rising by 10% year-over-year, while RPM improved by 10.2% [2][10] - The load factor for Copa Holdings rose to 86.2% from 86.1% in November 2024, indicating that traffic growth outpaced capacity expansion [2][10] Group 2: LATAM Airlines Group (LTM) - LATAM Airlines reported a year-over-year increase in revenue passenger-kilometers (RPK) for November 2025, with consolidated capacity increasing by 4.6% [4][5] - The domestic market in LATAM Airlines Brazil experienced a significant growth of 12.1% year-over-year, contributing to the overall traffic increase of 3.6% [6] - LATAM Airlines transported almost 7.4 million passengers in November 2025, marking a 4.9% increase year-over-year [7] Group 3: Ryanair Holdings (RYAAY) - Ryanair reported a solid increase in passenger numbers, transporting 13.8 million passengers in November 2025, reflecting a 6% year-over-year increase [8] - The load factor for Ryanair remained flat at 92%, indicating consistent passenger demand [8] - Ryanair's traffic grew by 9% to 183.7 million passengers in fiscal 2024, positioning it as the world's leading low-fare airline in terms of passenger traffic [9][11]