Corporacion Am Stock Price, News & Analysis

Blue Sky Uranium has entered into a definitive earn-in agreement with Abatare Spain (COAM) and ACI Capital, granting COAM the right to acquire up to 80% indirect interest in the Ivana Uranium-Vanadium Deposit in Argentina. COAM can acquire 49.9% equity by funding US$35 million in expenditures within 36 months, and up to 80% upon completing a feasibility study and funding development costs up to US$160 million for commercial production. The agreement includes a call option for exploration targets and requires shareholder approval at a Special Meeting planned for February 2025.

Corporacion America Airports (CAAP) reported Q3 2024 results showing a 4.2% decline in consolidated revenues ex-IFRIC12 to $404.7 million. Passenger traffic decreased 3.9% to 21.3 million, while cargo volume increased 4.4% to 96.8 thousand tons. Operating Income fell to $100.9 million from $131.7 million in 3Q23, and Adjusted EBITDA ex-IFRIC12 decreased 15.9% to $145.4 million. The company maintained a strong financial position with $510.9 million in cash and cash equivalents, and Net Debt to LTM Adjusted EBITDA improved to 0.9x from 1.4x in December 2023.

Corporación América Airports reported a 4.0% year-over-year decrease in passenger traffic for October 2024, or -1.6% excluding Natal airport operations. International passenger traffic grew 3.8% YoY, while domestic traffic declined 11.1%. Notable highlights include a 7.0% increase in Argentina's international traffic, 6.1% growth in Italy's total traffic, and a 17.4% rise in cargo volume across all operations. Key developments include JetSMART's fleet expansion in Argentina, new seasonal routes by Aerolíneas Argentinas, and route resumptions by American Airlines and Delta.

Corporación América Airports (NYSE: CAAP) has scheduled its Third Quarter 2024 financial results announcement for Wednesday, November 20, 2024, after market closes. A conference call will follow on Thursday, November 21, 2024, at 10:00 am Eastern Time, featuring CEO Martín Eurnekian, CFO Jorge Arruda, and Head of IR Patricio Iñaki Esnaola. Participants can join via phone using toll-free numbers for North America (1-800-549-8228) or other locations (1-289-819-1520) with Conference ID 35738. A webcast option is also available.

Corporación América Airports S.A. (NYSE: CAAP) reported a 3.6% year-on-year decrease in passenger traffic for September 2024. Excluding Natal airport, the decrease was 1.2% YoY. Key highlights include:

- Domestic passengers decreased by 12.2% YoY
- International passengers increased by 5.4% YoY
- Transit passengers rose by 12.6% YoY
- Cargo volume increased by 9.7% YoY
- Total aircraft movements declined by 3.7% YoY

Performance varied across countries, with Uruguay showing strong growth (+15.7% YoY), Italy increasing (+5.9% YoY), while Argentina (-7.2% YoY), Brazil (-2.4% YoY), Ecuador (-5.1% YoY), and Armenia (-2.5% YoY) experienced declines. The report highlights ongoing challenges in some markets, including recession impacts in Argentina and aviation constraints in Brazil.

Corporación América Airports S.A. (NYSE: CAAP), a leading private airport operator, has announced a significant increase in domestic passenger fees for airports operated by its subsidiary, Aeropuertos Argentina 2000 (AA2000) in Argentina. The Argentine airport regulator, ORSNA, has approved Resolution No. 29/2024, which raises the fee from ARS2,540 to ARS5,685. This new tariff will be applied to tickets issued from the date of the resolution's publication and for travel occurring after a 30-day period from that date.

Corporación América Airports S.A. (NYSE: CAAP) reported a 3.8% year-on-year decrease in passenger traffic for August 2024. Excluding Natal airport, the decrease was 1.5% YoY. Key highlights include:

- Domestic passengers decreased by 12.6% YoY
- International passengers increased by 5.8% YoY
- Cargo volume increased by 5.1% YoY
- Aircraft movements decreased by 5.4% YoY

Performance varied across countries, with Italy showing growth (+6.6% YoY), while Argentina (-6.0% YoY) and Brazil (-8.1% YoY) faced challenges. Uruguay (+13.4% YoY) and Ecuador (-0.8% YoY) also saw notable changes. The report highlights the impact of economic conditions, airline changes, and the discontinuation of Natal airport operations on overall traffic figures.

Corporación América Airports S.A. (NYSE: CAAP) reported its Q2 2024 results:

- Consolidated Revenues ex-IFRIC12 up 0.2% YoY to $366.1 million, despite 7.8% decrease in passenger traffic

- Operating Income down to $92.9 million from $110.4 million in Q2 2023

- Adjusted EBITDA ex-IFRIC12 decreased 8.8% to $136.2 million

- Strong cash position with $439.4 million in Cash & Cash equivalents

- Net debt to LTM Adjusted EBITDA improved to 1.1x

Key factors:

• Geographic diversification mitigated soft performance in Argentina
• Revenue per passenger ex-IFRIC12 increased 9% YoY
• Strong performances in Italy and Uruguay
• Negotiating $400 million Capex plan with Armenian government
• Awaiting approval for new Florence airport master plan

Corporación América Airports S.A. (NYSE: CAAP) reported a 4.2% year-on-year decrease in passenger traffic for July 2024. Excluding Natal airport, the decline was 1.8% YoY. Key highlights include:

- Domestic passengers down 13.3% YoY
- International passengers up 7.6% YoY
- Total passengers: 7.34 million
- Cargo volume decreased 1.5% YoY
- Aircraft movements down 3.9% YoY

Performance varied across countries, with Argentina seeing a 5.5% decline, Italy growing 5.5%, Brazil down 9.6% (up 3.3% ex-Natal), Uruguay up 15.1%, Ecuador down 5.1%, and Armenia decreasing 2.2% YoY in passenger traffic.