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Grupo Aeroportuario Del PacíFico: Undervalued Airport Stock Provides Opportunity
Seeking Alpha· 2025-03-21 13:42
Group 1 - The article highlights the performance of Grupo Aeroportuario del Pacífico (PAC), which has gained 15.8% since a buy rating was issued in September 2024, outperforming the S&P 500 [1] - The investing group, The Aerospace Forum, focuses on identifying investment opportunities in the aerospace, defense, and airline sectors, leveraging data analytics for informed analysis [1] - The analyst, with a background in aerospace engineering, provides insights into industry developments and their potential impact on investment strategies [1] Group 2 - The report emphasizes the importance of data-informed analysis in driving investment ideas within the aerospace and defense industry [1]
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. General Ordinary Shareholders’ Meeting
Globenewswire· 2025-03-07 22:01
GUADALAJARA, Mexico, March 07, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced the following: Pursuant to a resolution adopted by our board of directors on February 24, 2025, and in accordance with Articles 180, 181, 182 and other applicable articles of the Mexican General Corporate Law and Article 35 of the Company’s by-laws, Grupo Aeroportuario del Pacífico, S.A.B. de C.V. invites its shareholders to the General Ordinary S ...
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. General Ordinary Shareholders' Meeting
GlobeNewswire News Room· 2025-03-07 22:01
Core Points - Grupo Aeroportuario del Pacífico (GAP) has announced a General Ordinary Shareholders' Meeting scheduled for April 24, 2025, to discuss various agenda items including financial statements and dividend proposals [1][2]. Financial Statements - The meeting will include the presentation and approval of the Company's financial statements for the fiscal year from January 1 to December 31, 2024, on an unconsolidated basis, in accordance with Mexican Financial Reporting Standards (MFRS) [3]. - The consolidated financial statements will also be presented in accordance with International Financial Reporting Standards (IFRS) [3]. Net Income and Retained Earnings - The net income reported for the fiscal year ended December 31, 2024, is Ps. 8,279,790,417.00 (EIGHT BILLION TWO HUNDRED SEVENTY-NINE MILLION SEVEN HUNDRED NINETY THOUSAND FOUR HUNDRED SEVENTEEN PESOS 00/100 M.N.), with a proposal to allocate the entire amount towards increasing the Company's retained earnings account [4]. Dividend Declaration - A proposal will be made to declare a dividend of Ps. 16.84 (SIXTEEN PESOS 84/100 M.N.) per share from the retained earnings account, which totals Ps. 18,864,285,272.00 (EIGHTEEN BILLION EIGHT HUNDRED SIXTY-FOUR MILLION TWO HUNDRED EIGHTY-FIVE THOUSAND TWO HUNDRED SEVENTY-TWO PESOS 00/100 M.N.) [7]. Share Repurchase Program - The meeting will address the cancellation of amounts outstanding under the Share Repurchase Program approved on April 25, 2024, amounting to Ps. 2,500,000,000.00 (TWO BILLION FIVE HUNDRED MILLION PESOS 00/100 M.N.) and propose a new allocation of the same amount for share repurchases for the next 12 months [8]. Board of Directors - The agenda includes the designation or ratification of four members of the board of directors and their respective alternates, as well as the ratification of compensation paid to board members during the 2024 fiscal year [9][11]. Compliance and Reporting - Reports will be presented regarding compliance with tax obligations for the fiscal year from January 1 to December 31, 2023, and instructions for compliance for the fiscal year 2024 [5].
Grupo Aeroportuario del Pacifico Reports in February 2025 a Passenger Traffic Increase of 1.6% Compared to 2024
Globenewswire· 2025-03-05 02:14
Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 2.6% increase in total terminal passenger traffic for February 2025 compared to February 2024, with notable increases at Guadalajara and Tijuana airports [2][3] - The overall passenger traffic for GAP's 12 airports rose to 2,597.1 thousand in February 2025 from 2,425.2 thousand in February 2024, marking a 7.1% increase [3][7] Passenger Traffic Summary - Guadalajara airport saw a significant increase in passenger traffic, rising by 10.6% from 837.2 thousand in February 2024 to 926.2 thousand in February 2025 [3][7] - Tijuana airport experienced a modest increase of 1.9%, with passenger numbers rising from 619.3 thousand to 631.3 thousand [3][7] - Puerto Vallarta and Los Cabos airports reported decreases in passenger traffic of 1.8% and 3.8%, respectively [2][3] - Montego Bay airport had a notable decline of 9.6% in passenger traffic compared to February 2024 [2][3] Domestic and International Passenger Breakdown - Domestic terminal passengers decreased by 4.1% from 2,375.3 thousand in February 2024 to 2,278.4 thousand in February 2025 [5] - International terminal passengers also saw a decline, with a total of 1,318.7 thousand in February 2025, down from 1,450.0 thousand in February 2024 [5] Load Factors and Capacity - The number of available seats increased by 2.8% in February 2025 compared to February 2024, while load factors decreased from 82.1% to 81.2% [11] - The company introduced new routes, including Montego Bay to Raleigh-Durham [11] Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities and tourist destinations [10] - The company has been publicly traded since February 2006 on the New York Stock Exchange and the Mexican Stock Exchange [10]
Grupo Aeroportuario del Pacifico(PAC) - 2024 Q4 - Annual Report
2025-02-25 11:05
GRUPO AEROPORTUARIO DEL PACÍFICO S.A.B. DE C.V. (PACIFIC AIRPORT GROUP) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2025 Commission File Number: 001-32751 (Translation of registrant's name into English) México (Jurisdiction of incorporation or organization) Avenida Mariano Otero No. 1249-B Torre Pacifico, Piso 6 Col. Rinconada del Bosque ...
Grupo Aeroportuario del Pacifico Reports in January 2025 a Passenger Traffic Increase of 5.4% Compared to 2024
Globenewswire· 2025-02-05 21:37
Core Viewpoint - Grupo Aeroportuario del Pacífico (GAP) reported a 6.3% increase in total terminal passenger traffic across its 12 Mexican airports in January 2025 compared to January 2024, with notable growth in several key airports [2][3]. Passenger Traffic Summary - Total terminal passengers increased from 2,697.5 thousand in January 2024 to 2,899.1 thousand in January 2025, reflecting a 7.5% growth [3]. - Key airports with significant increases include: - Guadalajara: 10.4% increase from 911.7 thousand to 1,006.2 thousand [3]. - Puerto Vallarta: 14.1% increase from 201.1 thousand to 229.5 thousand [3]. - Hermosillo: 11.2% increase from 152.2 thousand to 169.3 thousand [3]. - Montego Bay experienced a decrease of 7.3% in passenger traffic [2]. Domestic and International Passenger Summary - Domestic terminal passengers totaled 2,747.0 thousand in January 2025, up 2.9% from 2,668.6 thousand in January 2024 [5]. - International terminal passengers saw a slight decline, totaling 2,899.1 thousand in January 2025, compared to 2,668.6 thousand in January 2024 [5]. Load Factors and New Routes - Available seats increased by 2.3% year-over-year, with load factors rising from 81.4% in January 2024 to 83.9% in January 2025 [12]. - New routes introduced by Alaska Airlines from Puerto Vallarta to New York (JFK), Sacramento, Kansas City, and St. Louis, as well as from Los Cabos to Sacramento [12].
Grupo Aeroportuario del Pacifico Announces Issuance of Bond Certificates in Mexico for Ps. 6.0 Billion
Globenewswire· 2025-02-04 22:26
Core Viewpoint - Grupo Aeroportuario del Pacífico successfully completed the issuance of 60 million long-term bond certificates totaling Ps. 6.0 billion, with significant oversubscription and high credit ratings from Moody's and S&P [1][2]. Group 1: Bond Issuance Details - The bond issuance was conducted in two tranches, with an initial amount of Ps. 5.0 billion and a greenshoe option of 20% exercised upon closing, resulting in an oversubscription of 3.4 times [1]. - The proceeds will be used to pay off existing debt certificates "GAP 20" and "GAP 21," totaling Ps. 5.5 billion, and to fund committed investments under the Master Development Program for the 2025 fiscal year [3]. Group 2: Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and tourist destinations such as Puerto Vallarta and Los Cabos [4]. - The company has expanded its operations internationally, acquiring stakes in airports in Jamaica, including Sangster International Airport and Norman Manley International Airport [4].
Grupo Aeroportuario del Pacifico Reports in December 2024 a Passenger Traffic Increase of 2.9% Compared to 2023
Globenewswire· 2025-01-06 23:28
Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 3.4% increase in total terminal passenger traffic for December 2024 compared to December 2023, with notable increases at Guadalajara and Tijuana airports [2][3] - The overall passenger traffic for the year 2024 showed a decline of 5.3% compared to 2023, indicating a mixed performance across different airports [3][5] Passenger Traffic Summary - Total terminal passengers in December 2024 reached 3,084.7 thousand, up from 3,027.3 thousand in December 2023, marking a 1.9% increase [3] - Guadalajara airport saw a significant increase of 5.2% in December 2024, while Tijuana airport had a modest increase of 0.4% [3][5] - Puerto Vallarta and Los Cabos airports experienced decreases of 1.8% and 0.6% respectively [2][3] Yearly Performance - For the full year 2024, total terminal passengers were 34,443.8 thousand, down 5.3% from 36,371.5 thousand in 2023 [3] - Guadalajara airport's annual traffic decreased by 4.5%, while Tijuana's traffic fell by 4.9% [3][5] International and Domestic Traffic - International terminal passengers increased by 4.1% in December 2024, totaling 2,782.3 thousand compared to 2,672.4 thousand in December 2023 [3] - Domestic terminal passengers also saw a slight increase of 2.9% in December 2024, reaching 5,867.1 thousand [5] Load Factors and Capacity - Available seats in December 2024 decreased by 3.1%, while load factors improved from 80.4% in December 2023 to 85.5% in December 2024, indicating better utilization of available capacity [6] New Routes - GAP announced several new routes from Guadalajara, including destinations such as Mexicali, Ciudad Obregon, and Oakland, which may enhance connectivity and passenger traffic in the future [7]
Grupo Aeroportuario del Pacifico Reports in November 2024 a Passenger Traffic Increase of 1.8% Compared to 2023
GlobeNewswire News Room· 2024-12-04 21:57
Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 2.5% increase in total terminal passenger traffic across its 12 Mexican airports for November 2024 compared to November 2023 [2] - Notable increases in passenger traffic were observed at Tijuana (5.3%), Guadalajara (5.0%), while Montego Bay experienced a decline of 7.4% [2] Domestic Terminal Passengers - Domestic terminal passengers totaled 2,954.4 thousand in November 2024, a 0.6% increase from 2,937.6 thousand in November 2023 [4] - Guadalajara saw a slight increase of 0.6% in domestic passengers, while Tijuana experienced a significant rise of 6.7% [3] - Los Cabos and Puerto Vallarta had decreases of 6.2% and 0.1% respectively [3] International Terminal Passengers - International terminal passengers increased by 3.5% to 2,282.1 thousand in November 2024 from 2,205.1 thousand in November 2023 [4] - Guadalajara reported a significant increase of 15.6% in international passengers, while Montego Bay saw a decrease of 7.4% [4] Overall Passenger Traffic - Total terminal passengers for November 2024 reached 5,236.5 thousand, reflecting a 1.8% increase from 5,142.6 thousand in November 2023 [4] - Year-to-date figures showed a decline in total passengers from 57,762.0 thousand in January-November 2023 to 56,289.6 thousand in the same period of 2024, a decrease of 2.5% [4] Load Factors and Seat Availability - Available seats decreased by 1.0% in November 2024 compared to November 2023, while load factors improved from 82.8% to 85.2% [5] New Routes - GAP announced new routes including Hermosillo to Monterrey, La Paz to Los Angeles, and Los Cabos to Frankfurt among others [6]
Lockheed Martin Secures a $130M Army Contract for PAC-3 Missiles
ZACKS· 2024-12-04 15:51
Core Viewpoint - Lockheed Martin Corp. has secured a $129.7 million contract to provide technical assistance for the PAC-3 missile system, reflecting the growing demand for advanced missile technology amid rising geopolitical tensions [1][2][3]. Company Summary - The contract is expected to be completed by November 30, 2027, with work taking place in multiple countries including Bahrain, Kuwait, and Poland [2]. - Lockheed Martin's missile offerings include a range of advanced systems such as air-to-air missiles, anti-armor missiles, and hit-to-kill air defense systems, which are critical for military arsenals [5][6]. - The PAC-3 missile is highlighted as a next-generation system designed to counter advanced threats, enhancing Lockheed's competitive position in the defense sector [6][7]. Industry Summary - The global missiles and missile defense system market is projected to grow at a CAGR of 5% from 2024 to 2029, driven by increased defense spending due to geopolitical tensions [4]. - Other defense contractors, such as Northrop Grumman and RTX Corp., are also positioned to benefit from this market growth, with Northrop Grumman showing a long-term earnings growth rate of 19.1% and RTX Corp. planning a significant facility expansion [8][10][11]. - Lockheed Martin's stock has performed well, increasing by 14.7% over the past year, contrasting with a 5.6% decline in the industry [13].