OMA reports 9.9% surge in January passenger traffic

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., commonly known as OMA (NASDAQ: OMAB; BMV: OMA), a prominent Mexican airport operator, has announced a significant 9.9% increase in passenger traffic across its 13 airports in January 2025 compared to the same period last year.

This uptick includes a 7.3% rise in domestic travel and a notable 24.0% jump in international traffic. The company’s strong operational performance is reflected in its impressive 68.4% gross profit margin and healthy 14.1% year-to-date stock return, according to InvestingPro data.

The company disclosed that the vast majority of this passenger traffic, 99.4%, was commercial in nature, with the remainder attributed to general aviation. The increase in traffic also coincides with the commencement of operations on a new route during the month. InvestingPro subscribers can access 14 additional key insights about OMA, including detailed analysis of its financial health, which currently rates as "GREAT" according to InvestingPro’s comprehensive scoring system.

OMA’s management remains cautiously optimistic about the future, acknowledging that while they expect positive trends to continue, there are external factors beyond their control that could impact future results. According to InvestingPro analysis, the stock appears slightly undervalued at current levels, with two analysts recently revising their earnings expectations upward for the upcoming period.

Operating 13 international airports in central and northern Mexico, OMA serves a diverse range of destinations including Monterrey, Mexico’s third-largest metropolitan area, and popular tourist locations such as Acapulco, Mazatlán, and Zihuatanejo.

The group also manages hospitality venues such as the NH Collection Hotel in Mexico City and the Hilton Garden Inn in Monterrey. The company maintains a strong financial position with a moderate debt level and rewards shareholders with a substantial 4.8% dividend yield, while delivering an impressive 28% return over the past six months.

OMA’s financial officer, Ruffo Pérez Pliego, confirmed the report, which is derived from the company’s latest filing with the United States Securities and Exchange Commission. The company, listed on both the Mexican Stock Exchange and the NASDAQ Global Select Market, employs over 1,200 people to provide high-quality airport and commercial services. The information provided is based on a press release statement.

In other recent news, Grupo Aeroportuario del Centro Norte, also known as OMA, has been experiencing varying trends in passenger traffic. The company reported a 9.1% increase in December and a significant 9.9% rise in November across its 13 airports. However, there was a 4.8% dip in October, driven by a 7.0% decline in domestic traffic, offset slightly by a 12.7% increase in international traffic.

The company has also secured short-term financing of Ps.600 million from HSBC México, Banco Santander (BME:SAN) México, and Scotiabank (TSX:BNS) México to support its working capital needs and enhance its liquidity position. This move is part of OMA’s strategy to maintain a robust capital structure amidst its operations.

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