EarningsQ2 2026 Earnings Report
MX:CAAPN Q2 2026 EPS Results
Actual EPS$5.49
Consensus EPS$8.53
Beat/MissMissed by -$3.04
One Year Ago EPS$5.49
MX:CAAPN Q2 2026 Revenue Results
Actual Revenue$9.16B
Expected Revenue$8.54B
Beat/MissBeat by +$626.48M
YoY Revenue Growth+12.00%
Earnings Announcement Details
QuarterQ2 2026
Date08/18/2026
TimeBefore Open
Conference CallTuesday, August 18, 2026
MX:CAAPN Upcoming Earnings
Corporacion America Airports SA's next earnings date is estimated for November 18, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CAAPN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call portrays a fundamentally strong and diversified portfolio with solid top-line growth, improved revenue per passenger, multi-market EBITDA expansion, stronger liquidity and a $150 million dividend. These positives are counterbalanced by concentrated setbacks in Argentina (weaker domestic traffic, cargo normalization and currency effects) and non-recurring costs in Uruguay that pressured consolidated EBITDA and raised operating expenses. Management expects some Argentina domestic capacity to be replaced over time and highlighted ongoing initiatives to improve cargo profitability and monetize strategic projects.Company Guidance
Top-line Revenue Growth
Total revenues (ex IFRIC 12) grew 8% year-over-year, outpacing traffic growth. Consolidated revenue per passenger rose nearly 9% to $22.9 from $21.0.
Strong Commercial Performance
Commercial revenues increased 13% year-over-year across the portfolio (excluding Argentina). Management notes that if cargo in Argentina is excluded, commercial revenues would have increased ~26%, driven by VIP lounges, duty-free, parking and space rentals.
Aeronautical Revenue Expansion
Aeronautical revenues climbed 4% year-over-year, supported by growth across Brazil, Italy, Armenia, Uruguay and Ecuador, with tariff increases in Brazil, Uruguay and Ecuador.
Multiple Markets Delivering Double-Digit EBITDA Growth
Four of six segments delivered double-digit adjusted EBITDA growth: Brasilia adjusted EBITDA +32% (margin +2.3 pp), Armenia adjusted EBITDA +21%, Ecuador adjusted EBITDA +17% (margin +2.0 pp), and Italy adjusted EBITDA +19% (or +11% excluding construction services) with Italy margin expanding +3.1 pp.
International and Market Traffic Strength
International traffic rose nearly 6% overall. Notable market performance: Armenia +13% in the quarter (July +17%), Italy +5%, Brazil +4% (July +8%), Uruguay +2% (July +3%), Ecuador +2% with international traffic +8%.
Improved Liquidity and Deleveraging
Total liquidity ended the quarter at $861 million, up 20% from $750 million at year-end 2025. Net debt declined to $381 million from $502 million, and net leverage stood at 0.5x.
Shareholder Return Initiative
Board approved cash dividends totaling $150 million (~$0.91 per share) reflecting confidence in cash generation and balance sheet strength while preserving OpCo liquidity for capex and strategic initiatives.
Positive Cash Generation Across Subsidiaries
Nearly all operating subsidiaries generated positive operating cash flow in H1; only Italy and Ecuador were exceptions due to planned capex and concession fee payments.
MX:CAAPN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed