Core Insights - Copa Holdings, S.A. (CPA) is set to report its third-quarter 2025 results on November 20, with earnings estimates revised down by 0.25% to $4.03 per share and revenue estimates at $915 million, reflecting a 7.1% year-over-year growth [1][9] Financial Performance Expectations - The company has a strong earnings surprise history, having outperformed the Zacks Consensus Estimate in the last four quarters with an average beat of 7.27% [2] - Passenger revenues are projected to increase to $875.4 million, a 7% rise compared to the third-quarter 2024, while cargo and mail segment revenues are expected to reach $27.6 million, marking a 12.8% year-over-year increase [4] Capacity and Cost Factors - CPA anticipates a 7-8% year-over-year growth in consolidated capacity for 2025, with an expected operating margin of 21-23% and a load factor of 87%, up from 86.3% in 2024 [3] - Operating costs are expected to rise by 6% in Q3 2025 compared to Q3 2024, driven by a 10% increase in wages and a 7.9% rise in airport facilities and handling charges [5] Earnings Prediction Model - The earnings prediction model indicates a likely earnings beat for Copa Holdings, supported by a positive Earnings ESP of +1.93% and a Zacks Rank of 3 (Hold) [6] Recent Performance Highlights - In Q2 2025, Copa Holdings reported earnings per share of $3.61, exceeding the Zacks Consensus Estimate of $3.25, and revenues of $842.60 million, surpassing the estimate of $834.8 million, attributed to an 8% increase in onboard passengers [7]