Financial Data and Key Metrics Changes - Total revenues excluding IFRIC 12 increased by 17%, nearly doubling the passenger traffic growth of 9% [11] - Adjusted EBITDA excluding IFRIC 12 rose nearly 40% to $211 million, reflecting strong performance in Argentina and Armenia [14] - Net debt decreased to $502 million from $780 million in December 2024, improving the net leverage ratio to 0.7 times [17] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 17%, driven by strong results in Argentina, with a 21% increase in aeronautical revenues attributed to a 15% rise in international traffic volumes [11][12] - Commercial revenues grew by 16%, supported by higher contributions from cargo, fuel revenues, and solid growth across VIP lounges and parking facilities [12] - Cargo revenues were up 22% year-over-year, with strong contributions from Argentina, Uruguay, and Brazil [10] Market Data and Key Metrics Changes - Passenger traffic reached a record 22.3 million, with international traffic growing by 12% and domestic traffic increasing nearly 7% [4][5] - In Argentina, passenger traffic increased nearly 9%, with international traffic up 15% [6] - Italy's traffic grew by 8%, driven mainly by international travel, while Brazil's total traffic was up 12% [7][8] Company Strategy and Development Direction - The company secured a 35-year extension of the concession in Armenia and a six-year extension in Galapagos, enhancing long-term visibility [4][19] - The company is pursuing inorganic growth opportunities, having received concession awards in Iraq and Angola, while evaluating additional bidding processes [20] - The focus remains on disciplined capital allocation and expanding the portfolio through both organic initiatives and acquisitions [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued positive momentum in passenger traffic, particularly in Argentina, supported by strong international trends [21] - The geopolitical situation in the Middle East is being monitored closely for potential implications on international travel [21] - The company aims to prioritize commercial optimization and revenue per passenger growth across the portfolio [21] Other Important Information - The company ended the year with a strong balance sheet and significant financial flexibility, with total liquidity of $750 million [17] - The company received industry recognition, including being named Best Airport Operator in South America [20] Q&A Session Summary Question: Will the current margins profitability be the new base for CAAP going forward, and has the war impacted operations in Armenia? - Management indicated that margins are stable, with traffic growth observed in the first two months of the year, but approximately 10%-15% of traffic in Armenia has been affected by the war [24][25] Question: Any updates on the Argentina concession rebalance and the Italy investment opportunity? - Management stated they are on the right track regarding Argentina but could not provide a specific timeline due to political dynamics. Progress is being made in Italy, but further approvals are needed before construction can begin [30][31] Question: Can you elaborate on the capital allocation strategy and expected new regions for investment? - Management confirmed they are pursuing opportunities in Iraq and Angola and are looking at other regions, including the Middle East and Central Asia, while focusing on growing the portfolio [35][36] Question: How will funding for acquisitions outside of Argentina be managed? - Management indicated that funding for acquisitions would primarily come from cash on hand, given the size of the opportunities being pursued [40]

Financial Data and Key Metrics Changes - Total revenues excluding IFRIC 12 increased by 17%, nearly doubling the passenger traffic growth of 9% [11] - Adjusted EBITDA excluding IFRIC 12 rose nearly 40% to $211 million, reflecting strong performance in Argentina and Armenia [14] - The company closed the quarter with total liquidity of $750 million, a 36% increase from $526 million at year-end 2024 [17] - Total debt at year-end was $1.1 billion, with net debt decreasing to $502 million from $780 million in December 2024 [17] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 17%, driven by strong results in Argentina, with a 21% increase in aeronautical revenues [11][12] - Commercial revenues grew by 16%, supported by higher contributions from cargo, fuel revenues, and solid growth across VIP lounges and parking facilities [12] - Cargo revenues were up 22% year-over-year, with strong contributions from Argentina, Uruguay, and Brazil [10] Market Data and Key Metrics Changes - Passenger traffic in Argentina increased nearly 9%, with domestic traffic up 6% and international traffic up 15% [6] - International traffic across the portfolio grew by 12%, with Argentina contributing more than half of the total increase [5] - Traffic in Italy grew by 8%, driven mainly by the international segment, which increased by 11% [7] - Brazil's total traffic was up 12%, reflecting a better environment among airlines and stronger summer season activity [8] Company Strategy and Development Direction - The company secured a 35-year extension of the concession in Armenia and a 6-year extension in Galapagos, enhancing long-term visibility [4][19] - The company has been awarded concessions and is a preferred bidder for new airport concessions in Baghdad, Iraq, and Luanda, Angola, while evaluating additional opportunities [20] - The focus remains on disciplined capital allocation and expanding the portfolio through both organic and inorganic growth strategies [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued positive momentum in passenger traffic, particularly in Argentina, supported by strong international trends [21] - The geopolitical situation in the Middle East is being monitored closely for potential implications on international travel [21] - The company aims to prioritize commercial optimization and revenue per passenger growth across the portfolio [21] Other Important Information - The company achieved significant industry recognition, with various airports receiving awards for operational excellence and customer experience [20] Q&A Session Summary Question: Regarding traffic growth and profitability margins - Management indicated that margins are stable and expect continued growth in traffic and profitability, with approximately 10%-15% of traffic in Armenia affected by the war [24][25] Question: Update on Argentina concession rebalance and Italy investment opportunity - Management stated they are on the right track regarding Argentina's economic reequilibrium but could not provide a specific timeline due to political dynamics. Progress is being made in Italy, but further approvals are needed before construction can begin [30][31] Question: Capital allocation strategy and commercial revenue growth - Management highlighted ongoing opportunities in Iraq and Angola, with a focus on expanding the portfolio. Commercial revenues are expected to continue growing, although not as intensely as in 2025 [35][36]

Financial Data and Key Metrics Changes - Passenger traffic decreased by 0.9% in Q4 2025 compared to Q4 2024, with a notable decline in Jamaica due to Hurricane Melissa [3][4] - Combined aeronautical and non-aeronautical service revenues increased by 12.8%, with aeronautical revenues growing by 12.6% and non-aeronautical revenues by 13.3% [5][6] - EBITDA increased by 7.5% to MXN 5.1 billion, with an EBITDA margin of 63.8%, reflecting higher concession fees and increased operational costs [6][7] - Net income declined due to higher financial expenses and lower interest income, alongside deferred tax adjustments [7] Business Line Data and Key Metrics Changes - In Mexico, commercial revenues were strong, particularly in cargo and warehouse operations, with significant contributions from food and beverage, retail, and ground transportation [6] - Non-aeronautical revenue per passenger increased to MXN 152 in 2025 from MXN 123 in 2024, indicating improved commercial execution and pricing optimization [8] Market Data and Key Metrics Changes - The impact of Hurricane Melissa led to a nearly 35% decrease in traffic in Jamaica during the quarter, although recovery is expected by the 2026 winter season [4][5] - The company anticipates passenger traffic growth of 2% to 5% in 2026, with aeronautical revenues projected to increase by 9% to 12% [14] Company Strategy and Development Direction - The company is focused on four growth pillars: strengthening connectivity, expanding commercial revenues, disciplined execution of infrastructure programs, and maintaining a long-term leverage strategy [15] - The business combination with CBX is expected to enhance operational efficiency and expand service capabilities, contributing positively to long-term value creation [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the Jamaican market despite recent challenges, with expectations for hotel capacity recovery [5][10] - The company remains disciplined in capital allocation, focusing on projects that align with strategic and financial return criteria [10][36] Other Important Information - The company closed 2025 with MXN 10.5 billion in cash and cash equivalents, having strengthened its capital structure through bond issuance [8][9] - CapEx for 2025 was MXN 12.4 billion, focusing on major terminal expansions and capacity enhancements [9] Q&A Session Summary Question: Can you provide details on Guadalajara and Puerto Vallarta cancellations and bookings? - Management reported significant cancellations initially but noted a recovery with only four cancellations in Puerto Vallarta and eleven in Guadalajara the following day [18][19] Question: Will there be an expansion in the U.S. beyond CBX? - Management indicated that the CBX platform opens opportunities for new investments in the U.S., with a focus on projects that generate shareholder value [20] Question: What is the expected timing for pending tariff adjustments? - Management outlined a series of tariff increases implemented throughout 2025, with additional increases expected in the summer [26][27] Question: Can you break down traffic increase expectations for Mexico and Jamaica? - Management expects a traffic increase of 2% to 5% in Mexico, while Jamaica is projected to see a recovery with a potential increase of -2% to 0% in passenger numbers [30][33] Question: What are the priorities for capital allocation now that the Turks and Caicos process is over? - Management emphasized a focus on the CBX project and exploring other opportunities in the cargo facilities business, maintaining a disciplined approach to capital allocation [36][37]

Financial Data and Key Metrics Changes - Total revenues for Q4 2025 were flat year-on-year at MXN 7.3 billion, reflecting softer traffic in Mexico and the FX impact from the appreciation of the Mexican peso [10][11] - Consolidated EBITDA decreased nearly 5% to MXN 4.9 billion, with an adjusted EBITDA margin declining 330 basis points to 66.4% year-on-year [13] - Majority net income for Q4 decreased 22% to MXN 2.7 billion, primarily due to a non-cash foreign exchange loss and an adjustment in amortization methodology [14][15] Business Line Data and Key Metrics Changes - Aeronautical and non-aeronautical revenues were essentially unchanged during the quarter, with commercial revenue per passenger increasing 1% year-on-year to nearly MXN 132 [11][12] - Colombia's revenues increased nearly 5%, while Puerto Rico's revenues declined nearly 6% due to FX impacts [11][12] Market Data and Key Metrics Changes - Passenger traffic handled in Q4 was 17.9 million, up nearly 1% year-on-year, with Mexico's traffic essentially flat and international traffic showing modest improvement [8][9] - Traffic in Colombia increased nearly 6%, while Puerto Rico saw a 3% decline, primarily due to domestic market demand softness [8][9] Company Strategy and Development Direction - The company completed the acquisition of URW Airports, now ASUR US, for an enterprise value of $295 million, enhancing its presence in the U.S. airport commercial market [3][4] - A purchase agreement was signed to acquire Motiva's stake in its airport portfolio for BRL 5 billion, expected to add approximately 45 million passengers annually [5][6] - The company aims to pursue disciplined, accretive acquisitions that enhance long-term shareholder value while preserving balance sheet strength [7] Management's Comments on Operating Environment and Future Outlook - Management noted that while near-term traffic trends have moderated, structural demand drivers for air travel in the region remain intact, indicating confidence in long-term value generation [17] - The company expects traffic in Mexico to gradually stabilize as aircraft availability improves, with positive momentum anticipated in Puerto Rico and Colombia [10][17] Other Important Information - Capital expenditures during Q4 were MXN 3.9 billion, with a total of MXN 7.8 billion invested in CapEx for the full year [16] - Dividend payments totaled MXN 24 billion during 2025, reflecting the strength of the company's cash generation model [7] Q&A Session Summary Question: Additional color and projections about the recent ASUR US acquisitions - Management indicated that the first 20 days of ASUR US results are not normalized for the full year, with expectations for significant contributions following the opening of a new terminal at JFK Airport [19][20] Question: Updates on the Motiva Airports acquisition - Management confirmed that the process is progressing well, although it may take time due to aeronautical approvals [20][21] Question: Clarification on the lower tax rate observed this quarter - Management stated that the lower tax rate is related to the results of the year and not expected to be a one-off effect [23][24] Question: Initiatives driving commercial performance in Puerto Rico and Colombia - Management highlighted efforts in Puerto Rico to enhance convenience store strategies and operational performance in duty-free, while Colombia's growth was supported by new retail units [28][29]

Financial Data and Key Metrics Changes - Total revenues were flat year-on-year at MXN 7.3 billion, reflecting softer traffic in Mexico and the FX impact from the appreciation of the Mexican peso [10][11] - Consolidated EBITDA decreased nearly 5% to MXN 4.9 billion, with adjusted EBITDA margin declining 330 basis points to 66.4% year-on-year [13] - Majority net income for the fourth quarter decreased 22% to MXN 2.7 billion, primarily due to a non-cash foreign exchange loss and an adjustment in amortization methodology [13][14] Business Line Data and Key Metrics Changes - Aeronautical and non-aeronautical revenues were essentially unchanged during the quarter [10] - Commercial revenue per passenger increased 1% year-on-year to nearly MXN 132, with Colombia posting the strongest performance with a 12% gain [11] - Total expenses increased 25% year-on-year, with significant increases in Mexico, Puerto Rico, and Colombia due to various operational costs [12] Market Data and Key Metrics Changes - Passenger traffic handled was 17.9 million, up nearly 1% year-on-year, with Mexico's traffic essentially flat and Colombia showing a nearly 6% increase [8][9] - Traffic in Puerto Rico declined 3%, while international traffic remained positive [8] - Passenger volumes from the United States decreased just 0.6%, while South America contracted 10.9% [9] Company Strategy and Development Direction - The company completed the acquisition of URW Airports, now ASUR US, for an enterprise value of $295 million, establishing direct participation in the U.S. non-regulated commercial airport segment [3][4] - A purchase agreement was signed to acquire Motiva's stake in its airport portfolio for BRL 5 billion, expected to add approximately 45 million passengers annually [5][6] - The company aims to enhance geographic diversification and create long-term operational opportunities while adhering to a disciplined acquisition strategy [6] Management's Comments on Operating Environment and Future Outlook - Management noted that while near-term traffic trends have moderated, structural demand drivers for air travel in the region remain intact [17] - The company expects traffic in Mexico to gradually stabilize as aircraft availability improves, with positive momentum anticipated in Puerto Rico and Colombia [10][17] - The reopening of Terminal 1 in Cancun is expected to provide a commercial tailwind and improve passenger experience [17] Other Important Information - Dividend payments totaled MXN 24 billion during 2025, reflecting the strength of the company's cash generation model [6] - Capital expenditures during the fourth quarter were MXN 3.9 billion, with a focus on investments across the airport network [16] Q&A Session Summary Question: Additional insights on ASUR US acquisitions and revenue/EBITDA projections - Management indicated that the first 20 days of ASUR US operations are not normalized for the full year, with expectations for significant contributions following the opening of a new terminal at JFK Airport [19][20] Question: Clarification on the lower tax rate observed this quarter - Management confirmed that the lower tax rate is related to the results of the year and not expected to be a recurring effect [22][23] Question: Initiatives driving commercial performance in Puerto Rico and Colombia - Management highlighted efforts in Puerto Rico to enhance convenience stores and operational performance in duty-free, while Colombia saw strong performance from new retail units [27][28]

Financial Data and Key Metrics Changes - In 2025, total passenger traffic reached 28.8 million, an increase of 8.5% compared to 2024, with domestic traffic growing by 8% and international traffic by 12% [8][10] - Adjusted EBITDA for the year was MXN 10.2 billion, with an Adjusted EBITDA margin of 74.5% [10] - For Q4 2025, passenger traffic totaled 7.5 million, a 6% increase year over year, with seat capacity increasing by 8% [10][12] - Consolidated net income for Q4 was MXN 1.2 billion, an increase of 3.6% compared to Q4 2024 [18] Business Line Data and Key Metrics Changes - Restaurant revenues grew by 22%, VIP lounges revenues increased by 30%, and parking revenues increased by 13% compared to 2024 [9] - OMA Carga revenues recorded a 9% increase, driven by higher volumes and improved operational efficiencies [10] - Aeronautical and non-aeronautical revenues each grew approximately 12% year over year [10] Market Data and Key Metrics Changes - The approval of the Master Development Program (MDP) for 2026-2030 includes an investment commitment of approximately MXN 16 billion, focusing on capacity expansion and quality enhancements [4][5] - The MDP reflects disciplined capital allocation and greater efficiency in the deployment of capital expenditures [6] Company Strategy and Development Direction - The MDP prioritizes projects that enhance passenger experience, improve operational efficiency, and incorporate technology solutions [5] - Sustainability and decarbonization are embedded in the investment strategy, with initiatives aimed at improving energy efficiency and supporting long-term emission reduction targets [5] - The company aims to strengthen overseas connectivity with additional operations to Madrid and the launch of a Monterrey-Paris route in April 2026 [9] Management's Comments on Operating Environment and Future Outlook - The management noted that traffic levels today are materially higher than five years ago, indicating improved capital efficiency per passenger [6] - For 2026, the company anticipates low to mid-single digit growth in traffic [68] - The management expressed confidence that the tariff increases will not significantly impact traffic elasticity [81] Other Important Information - Total investments in Q4, including MDP investments, amounted to MXN 755 million [13] - The company expects the full-year major maintenance provision cost for 2026 to be approximately MXN 400 million [18] Q&A Session Summary Question: Major maintenance provision details - The MXN 260 million major maintenance provision reflects expected expenditures for 2026-2030 and timing changes [22][23] Question: Passenger fees increase expectations - A 6.9% increase in passenger fees is expected starting April 10th, with an aim to reach 100% of the maximum tariff in 2 to 3 years [32] Question: Timing of investment in Monterrey - The new commercial area in Monterrey is expected to open by mid-next year [36] Question: Major maintenance investments in MDP - Approximately 17% of the total MDP investments for the next five years will be for major maintenance [41] Question: Excess concession tax on aeronautical revenues - The excess was incorporated as an additional reference value for recent negotiations and is being recovered through maximum tariff adjustments [44][45] Question: Traffic expectations for 2026 - The company anticipates low to mid-single digit growth in traffic for 2026 [68] Question: Commercial revenues per passenger and diversification growth - Commercial revenue per passenger ended 2025 at MXN 62, with expectations for similar amounts in 2026 [89]

Financial Data and Key Metrics Changes - In 2025, total passenger traffic reached 28.8 million, an increase of 8.5% compared to 2024, with domestic traffic growing by 8% and international traffic by 12% [6][9] - Adjusted EBITDA for the year was MXN 10.2 billion, with an adjusted EBITDA margin of 74.5% [9] - For Q4 2025, adjusted EBITDA grew by 5.9% to MXN 2.6 billion, with a margin of 73.6% [11][18] - Consolidated net income for Q4 was MXN 1.2 billion, a 3.6% increase year-over-year [18] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by approximately 12% year-over-year, while non-aeronautical revenues also grew by about 12% [9] - Restaurant revenues grew by 22%, VIP lounges revenues increased by 30%, and parking revenues rose by 13% compared to 2024 [8] - OMA Carga revenues recorded a 9% increase, driven by higher volumes and improved operational efficiencies [9][14] Market Data and Key Metrics Changes - Seat capacity across airports increased by close to 11% during 2025, reflecting improved aircraft deployment [5] - The company opened 35 new routes in 2025, with 24 being domestic and 11 international, enhancing connectivity [5][6] - Monterrey Airport has expanded its long-haul connectivity, including new routes to Madrid and Paris [7][8] Company Strategy and Development Direction - The Master Development Program (MDP) for 2026-2030 was approved, with an investment commitment of approximately MXN 16 billion focused on capacity expansion and quality enhancements [3][4] - The MDP emphasizes sustainability and decarbonization, with initiatives aimed at improving energy efficiency and supporting long-term emission reduction targets [4] - The company aims to maximize the use of current assets while ensuring disciplined capital allocation [4] Management's Comments on Operating Environment and Future Outlook - Management noted that traffic levels today are materially higher than five years ago, indicating improved capital efficiency per passenger [4] - The company anticipates low to mid-single-digit growth in traffic for 2026 [66] - Management expressed confidence in the structural growth outlook of their airports, supported by the approved MDP [5] Other Important Information - The company expects a 6.9% increase in passenger fees starting April 10, 2026, with a target to reach close to 100% of the maximum tariff over the next 2-3 years [32][34] - Total investments in Q4, including MDP investments, amounted to MXN 755 million [12] Q&A Session Summary Question: Major maintenance provision details - The MXN 260 million major maintenance provision reflects expected expenditures for 2026-2030 and timing changes [21][22] Question: Passenger fee increases - A 6.9% increase in passenger fees is expected, with 93% of the maximum tariff anticipated to be reached by the end of the year [32][34] Question: Investment timing in Monterrey - The new commercial area in Monterrey is expected to open by mid-next year [35] Question: Major maintenance in MDP - Major maintenance projects represent approximately 17% of the total MDP for the next five years [40][41] Question: Concession tax on aeronautical revenues - The excess concession tax is being recovered through maximum tariff adjustments starting January 1st of this year [44] Question: Traffic expectations for 2026 - The company anticipates low to mid-single-digit growth in traffic for 2026 [66] Question: Demand elasticity and new route additions - The company believes that the tariff increases will not significantly impact traffic elasticity, with 20 new routes confirmed for the year [78][83]

Core Insights - The performance of the company showed a significant divergence, with a stable traffic growth of 2.9% in Mexico contrasted by a 35% decline in Jamaica due to Hurricane Melissa [1] - Revenue growth of 12.8% was primarily driven by the implementation of new maximum tariffs for the Mexican portfolio set for 2025, rather than traffic volume [1] - The downturn in Jamaica was largely due to the loss of approximately 70% of hotel infrastructure capacity around Montego Bay, rather than damage to airport facilities [1] Financial Performance - EBITDA margin compression was noted, attributed to a strategic shift where the company now directly manages jet bridges and airbuses, leading to increased headcount and maintenance costs previously managed by third parties [1] - Commercial revenue outperformance was achieved through a strategic focus on cargo and bonded warehouse operations, along with renegotiated retail spaces under more favorable market conditions [1] Operational Resilience - Despite security incidents in Jalisco on February 22, operations at Guadalajara and Puerto Vallarta airports remained stable, with flight cancellations returning to normal within 48 hours [1]

Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported its consolidated results for the fourth quarter of 2025, showing a mixed performance in revenues and passenger traffic, influenced by external factors such as Hurricane Melissa impacting Jamaican airports [1][3]. Financial Performance - Total aeronautical revenues increased by Ps. 626.0 million, or 12.6%, primarily due to new airport tariffs and increased passenger traffic in Mexico [19]. - Non-aeronautical services revenues rose by Ps. 285.3 million, or 13.3%, driven by growth in various business lines [19]. - Total revenues increased by Ps. 267.1 million, or 2.8%, despite a significant decrease in revenues from improvements to concession assets, which fell by Ps. 644.3 million, or 25.6% [19][21]. - The company reported a comprehensive income decrease of Ps. 781.1 million, or 34.3%, from Ps. 2,274.3 million in 4Q24 to Ps. 1,493.3 million in 4Q25 [7]. Passenger Traffic - Total passenger traffic across the 14 airports operated by GAP decreased by 139.6 thousand, or 0.9%, compared to 4Q24 [5]. - The opening of new domestic and international routes contributed to the overall passenger traffic dynamics, although the impact of Hurricane Melissa led to a significant decline in Jamaican airport traffic [3][5][6]. Cost Structure - Cost of services increased by Ps. 426.8 million, or 28.1%, reflecting higher operational costs [7]. - Total operating costs decreased by Ps. 55.0 million, or 0.9%, mainly due to a reduction in costs associated with improvements to concession assets [22]. EBITDA and Income Metrics - EBITDA increased by Ps. 357.3 million, or 7.5%, with an EBITDA margin of 51.7% [15][26]. - Income from operations rose by Ps. 322.1 million, or 8.4%, indicating improved operational efficiency despite rising costs [7][25]. Yearly Overview - For the full year 2025, total revenues increased by Ps. 7,794.2 million, or 23.2%, with significant growth in both aeronautical and non-aeronautical services [34]. - Aeronautical services revenues for the year rose by Ps. 3,711.8 million, or 19.4%, while non-aeronautical services revenues increased by Ps. 2,032.3 million, or 26.5% [34].

Core Viewpoint - Grupo Aeroportuario del Sureste, S.A. de C.V. (ASR) shows potential as a stock pick due to a recent "golden cross" event, indicating a bullish trend reversal [1][4]. Technical Analysis - A "golden cross" occurs when a stock's 50-day simple moving average crosses above its 200-day simple moving average, suggesting a potential bullish breakout [2]. - The successful golden cross event consists of three stages: a price decline bottoming out, the shorter moving average crossing above the longer moving average, and maintaining upward momentum [3]. Performance Metrics - Over the past four weeks, ASR has gained 8.6%, indicating positive momentum [4]. - ASR currently holds a 2 (Buy) rating on the Zacks Rank, suggesting it may be poised for further breakout [4]. Earnings Outlook - The earnings outlook for ASR is positive, with one upward revision in earnings estimates over the past 60 days and no downward revisions, leading to an increase in the Zacks Consensus Estimate [4]. - The combination of the technical indicator and positive earnings estimates makes ASR a candidate for investors' watchlists [6].