What Grupo Aeroportuario del Sureste (ASR) Said on Its Q3 Earnings Call
Grupo Aeroportuario del Sureste (NYSE:ASR) reported third-quarter results marked by the September acquisition of CPC Aeroportos, which added 20 airports to its portfolio and expanded the company’s presence in Brazil, Ecuador, Costa Rica and Curaçao. Chief Executive Officer Adolfo Castro said the ac Grupo Aeroportuario del Sureste (ASR) reported a 1.2% decline in passenger traffic year over year to 20.9 million passengers, including nearly 4 million passengers contributed by Brazil and Others. Traffic in Mexico fell nearly 5%, primarily due to weaker international traffic at Cancún, while domestic traffic at other Mexican airports increased. The acquisition of CPC Aeroportsos, which added 20 airports to ASUR's portfolio and expanded the company's presence in Brazil, Ecuador, Costa Rica and Curaçao, has reshaped the company into an airport operator spanning 36 airports in seven countries, plus commercial operations at three U.S. airports. ASUR is managing higher leverage and major investments, with Net debt-to-LTM EBITDA increased to 2.6 times following the acquisitions. The company plans approximately 11 billion pesos in 2026 capital spending.
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Total passenger traffic declined 1.2% year over year to 20.9 million passengers, including nearly 4 million passengers contributed by Brazil and Others during September. Traffic in Mexico fell nearly ... [8562 symbols]
Onderwerpen: Markets, Earnings Calls
