Core Viewpoint - RTX Corp. is expected to report second-quarter 2025 results on July 22, with anticipated revenue growth of 4.8% year-over-year and earnings per share (EPS) growth of 2.8% from the prior year [1][2]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for revenues is $20.66 billion, reflecting a 4.8% increase from the previous year's quarter [2]. - The consensus estimate for earnings is $1.45 per share, indicating a 2.8% rise from the prior-year quarter [2]. - The earnings estimate has decreased by 0.7% over the past 60 days [2]. Business Performance Insights - RTX has a strong earnings surprise history, exceeding the Zacks Consensus Estimate in the last four quarters with an average surprise of 9.91% [2][3]. - The Pratt & Whitney and Collins Aerospace segments are expected to show strong performance due to increased commercial engine and aftermarket sales [4][6]. - The Zacks Consensus Estimate for Pratt & Whitney's adjusted sales is $7,284 million, a 7.1% improvement year-over-year, while Collins Aerospace's adjusted sales are estimated at $7,249.3 million, a 3.6% increase [8]. Military Sales Outlook - Increased geopolitical tensions are expected to drive growth in military sales, with higher engine deliveries for tanker programs and strong demand for the F135 Engine Core Upgrade for F-35 fighter jets [9][10]. - The Zacks Consensus Estimate for Raytheon's second-quarter sales is $6,773.3 million, indicating a 4% increase from the previous year [11]. Overall Sales Performance - Strong sales across RTX's business segments are anticipated to boost overall revenues for the second quarter [12]. - Factors contributing to this growth include solid sales expectations, increased defense volume, and improved net productivity [12]. Price Performance and Valuation - RTX shares have increased by 24.1% over the past six months, outperforming the Zacks aerospace-defense industry and the S&P 500 [14]. - RTX is currently trading at a premium valuation of 2.31X forward 12-month price/sales, compared to the peer group's 1.88X [16]. Investment Considerations - The growing demand for defense products due to geopolitical tensions is expected to support sales growth for RTX and its peers [17]. - Expanding commercial air traffic is also a significant growth catalyst, with over 13,000 large commercial engines installed globally [18]. - However, RTX's return on equity (ROE) is lower than its peers, indicating less effective use of shareholders' equity to generate profits [18].

Core Insights - LATAM Airlines Group reported a year-over-year increase in revenue passenger-kilometers (RPK) for June 2025, indicating growth in air traffic [1] Group 1: Capacity and Traffic - LATAM Airlines experienced a 10.7% year-over-year increase in consolidated capacity, measured in available seat-kilometers (ASK), driven by a 13.9% increase in domestic capacity in Brazil and a 12.3% increase in international capacity [2] - The consolidated traffic for LATAM Airlines increased by 10.2% year-over-year, although it did not outpace the capacity expansion, leading to a decrease in the consolidated load factor by 0.4 percentage points to 83.8% [4][11] - LATAM Airlines transported nearly 7 million passengers in June 2025, marking a 7.3% year-over-year increase, with a year-to-date total exceeding 41.5 million passengers [5][11] Group 2: Market Developments - New domestic routes were launched in Brazil from Aracaju to Congonhas and from Fortaleza to Juazeiro do Norte, along with an international connection between Bariloche in Argentina and Guarulhos in Brazil [3]

Core Insights - Grupo Aeroportuario del Sureste (ASUR) reported a total passenger traffic of 6.0 million in April 2025, marking a year-over-year increase of 3.8% compared to April 2024 [1][2] Passenger Traffic Summary - Passenger traffic increased by 13.5% in Puerto Rico, 4.8% in Colombia, and 0.5% in Mexico [2][4] - In Puerto Rico, international traffic surged by 29.6% and domestic traffic rose by 11.6% [2][5] - Colombia experienced a 15.6% increase in international traffic and a 2.0% increase in domestic traffic [2][5] - Mexico saw a 3.3% decrease in international traffic, which was partially offset by a 5.1% increase in domestic traffic [2][5] Detailed Traffic Data - For April 2025, Mexico's total passenger traffic was 3,511,745, a slight increase of 0.5% from 3,495,197 in April 2024 [4][5] - Domestic traffic in Mexico reached 1,653,649, up 5.1% from the previous year, while international traffic decreased to 1,858,096, down 3.3% [4][5] - San Juan, Puerto Rico, recorded 1,174,568 passengers, reflecting a 13.5% increase from 1,034,830 in April 2024 [5] - Colombia's total passenger traffic was 1,340,348, an increase of 4.8% from 1,278,688 in April 2024 [5] Year-to-Date Performance - Year-to-date figures for total traffic show a slight increase of 1.0% from 24,371,251 in 2024 to 24,626,734 in 2025 [4] - Domestic traffic year-to-date increased by 4.1%, while international traffic saw a decrease of 3.1% [4] Company Overview - ASUR operates 16 airports across the Americas, including nine in southeast Mexico and six in northern Colombia [6] - The company is a significant player in the airport sector, particularly with its operations at Cancun Airport, a major tourist destination [6] - ASUR is also involved in a joint venture for the operation of Luis Muñoz Marín International Airport in San Juan, Puerto Rico [6]

Core Insights - VINCI Airports reported nearly 73 million passengers in Q1 2025, an increase of 4 million passengers or 6% compared to Q1 2024 [3][8] - The Asian market, particularly traffic with China, showed significant growth, exceeding pre-COVID levels for the first time [4][8] - European airports, along with those in Mexico and Chile, benefited from the rise of low-cost airlines, contributing to overall traffic growth [5][8] Traffic Performance - January 2025 saw passenger numbers over 9% higher than January 2024, driven by Asia and the resurgence of traffic with China, which was up 25% compared to January 2019 [3] - February and March traffic stabilized at good levels despite unfavorable comparisons due to the leap year in February 2024 [3] - Traffic at Kansai airports in Japan surged over 35% above 2019 levels in January, fueled by the Chinese New Year holidays [4] Regional Highlights - In Mexico, traffic reached new records, increasing by 30% compared to 2019 in January, with airlines like Volaris and Vivaaerobus expanding operations [5] - Budapest airport recorded excellent results due to the performance of Ryanair, easyJet, and Wizz Air on European routes [5] - Traffic in South America, particularly in Santiago de Chile, was bolstered by increased capacity from airlines like LATAM, which saw a 13% rise [7] Specific Airport Performance - Lisbon airport in Portugal recorded 7,622 thousand passengers, a 1.4% increase, while Porto and Faro airports saw increases of 2.6% and 4.0% respectively [16] - Gatwick airport in the UK had 8,431 thousand passengers, up 1.2%, while Edinburgh airport grew by 6.6% [16] - In Japan, Kansai airports had 8,294 thousand passengers, reflecting a 16% increase [18] Commercial Movements - VINCI Airports experienced a 5.2% increase in commercial movements in Q1 2025 compared to Q1 2024 [15] - Notable growth in commercial flights was observed in Hungary, with a 14% increase at Budapest airport [19] - In Mexico, commercial flights increased by 11%, with Monterrey airport seeing a 21% rise [19]