EarningsQ2 2026 Earnings Report
MX:GAPB Q2 2026 EPS Results
Actual EPS$4.86
Consensus EPS$5.35
Beat/MissMissed by -$0.49
One Year Ago EPS$5.25
MX:GAPB Q2 2026 Revenue Results
Actual Revenue$11.29B
Expected Revenue$12.35B
Beat/MissMissed by -$1.06B
YoY Revenue Growth+3.75%
Earnings Announcement Details
QuarterQ2 2026
Date07/14/2026
TimeBefore Open
Conference CallTuesday, July 14, 2026
MX:GAPB Upcoming Earnings
Grupo Aeroportuario del Pacifico SAB de CV's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GAPB Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally positive underlying operational and financial picture: despite a 5.6% drop in passenger traffic and localized shocks (Hurricane Melissa in Jamaica, security-related declines in Puerto Vallarta, and FX headwinds), GAP demonstrated resilience through diversified revenue streams—non-aeronautical growth (+23.9%), directly-operated business (+17%), and strong EBITDA expansion (+8.4% to MXN 6.0 billion, margin up to 69.3%). Management provided constructive guidance (EBITDA +10–12%) and highlighted CBX contributions and tariff progress, but several near-term risks remain (traffic trends, sector-specific pressures, cost increases, and some reporting/CapEx clarity issues). Overall, the positive earnings protection and diversification outcomes materially outweigh the lowlights, though the recovery path for traffic and certain international categories remains uncertain.Company Guidance
EBITDA Growth and Margin Expansion
EBITDA increased by 8.4% to MXN 6.0 billion in Q2 2026 and EBITDA margin expanded by 230 basis points to 69.3%, demonstrating strong earnings protection despite lower passenger traffic.
Revenue (Excluding Construction) and Non-Aeronautical Momentum
Revenue excluding construction services rose 4.9% year-over-year. Non-aeronautical revenues grew 23.9%, driven by GAP-operated businesses and the consolidation of Cross Border Xpress (CBX).
Directly-Operated Business Performance
Excluding CBX consolidation, business lines operated directly by GAP grew 17% year-over-year, evidencing successful commercial monetization independent of passenger volume.
Strong Commercial Line Growth
Notable segment growth: cargo and bonded warehouse +22%, advertising +58%, hotel operations +27%, convenience stores +11%, and parking +9% — indicating diversified revenue drivers beyond aeronautical income.
CBX Initial Contribution
CBX generated MXN 168 million in revenue for May–June with over 626,000 passengers (~MXN 42.8 / passenger on average) and the company reported CBX contributing MXN 216 million in EBITDA during the first two months of consolidation, signaling commercial traction from the acquisition (transcript-reported figures).
Operational Success at Guadalajara During FIFA World Cup
Guadalajara Airport managed additional charter and event-related traffic successfully and recorded a 6% increase in traffic during the month of June, validating operational capacity under elevated demand and security protocols.
Improved Tariff Implementation and Liquidity
Progress on tariff implementation: ~90% fulfillment of maximum tariff in H1 with an expectation of ~95% by year-end. The business combination added MXN 5.4 billion in cash and cash equivalents, strengthening liquidity.
Revised 2026 Guidance (Positive on Profitability)
Updated full-year 2026 guidance: passenger traffic -3% to 0%; aeronautical revenues +1% to +4%; non-aeronautical revenues +21% to +24%; EBITDA +10% to +12% with an expected EBITDA margin of ~67% ±1%.
MX:GAPB 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