Copa Holdings Reports Fourth-Quarter Financial Results

Core Insights - Copa Holdings reported a net profit of US$166.2 million or US$3.99 per share for 4Q24, and a full-year net profit of US$608.5 million or US$14.56 per share, showing a decrease from the previous year's adjusted net profit of US$671.0 million or US$16.68 per share [5][10][15] - The company experienced a 4.0% increase in revenue passengers carried in 4Q24 compared to 4Q23, with a total of 3,444 thousand passengers [4][5] - Operating revenues for 4Q24 were US$877.1 million, a 3.9$912.8 million in 4Q23, while operating profit was US$204.2 million with an operating margin of 23.3$753.4 million, down from US$807.2 million in 2023, with an operating margin of 21.9$1.4 billion in cash and investments, representing 42% of the last twelve months' revenues [5][12] Capacity and Operations - Capacity, measured in available seat miles (ASMs), increased by 7.2% in 4Q24 compared to 4Q23, with a total of 7,747 million ASMs [4][6] - Copa Airlines was recognized as the most on-time airline in Latin America for 2024, achieving an on-time performance of 88.2% [5][8] Shareholder Returns and Corporate Actions - The company repurchased US$87 million worth of shares in 2024 as part of its US$200 million share repurchase program, representing approximately 2% of total outstanding shares [5][12] - The Board of Directors approved a quarterly dividend payment of US$1.61 per share for 2025, maintaining the previous year's dividend [5][12] Leadership Changes - Peter Donkersloot was appointed as Chief Financial Officer effective March 10, 2025, bringing over 20 years of international experience [5][8]