Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
LUXEMBOURG - Corporación América Airports S.A. (NYSE:CAAP) reported first quarter earnings that fell short of analyst expectations, sending shares down 6% in after-hours trading.
The airport operator posted adjusted earnings per share of $0.25, missing the consensus estimate of $0.48. Revenue came in at $447.8 million, below analyst projections of $505.81 million.
Despite the earnings miss, Corporación América Airports saw solid traffic growth in the quarter. Passenger traffic increased 7.3% YoY to 20.4 million, or 9.4% excluding the discontinued Natal concession in Brazil. Cargo volume rose 9.1% to 95,900 tons.
"We had a solid start to 2025, driven by a strong recovery in Argentina and traffic growth across all our markets," said CEO Martín Eurnekian. He noted Argentina led the rebound with double-digit growth and record-high volumes in January.
Revenue excluding construction services grew 6.4% YoY to $416.9 million. Adjusted EBITDA excluding IAS 29 accounting rose 4% to $157.9 million.
The company maintained a strong liquidity position with cash and equivalents of $448.6 million as of March 31. Net debt to LTM adjusted EBITDA stood at 1.1x, unchanged from the end of 2024.
Corporación América Airports operates 52 airports across six countries in Latin America and Europe. The company’s shares were down 6% following the earnings release.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.