Corporación América Airports has delivered strong Q3 2025 results, driven by passenger growth, higher unit revenues, and expanding EBITDA margins. CAAP's international and domestic traffic both grew, with notable strength in Argentina and Armenia, supporting robust revenue and margin expansion. I am revising my rating from strong buy to buy, reflecting lower EBITDA and free cash flow expectations for 2025-2026 and a slightly overvalued current multiple.
Corporación América Airports S.A. ( CAAP ) Q3 2025 Earnings Call November 24, 2025 10:00 AM EST Company Participants Patricio Esnaola - Investor Relations Manager Martin Francisco Eurnekian - CEO & Director Jorge Arruda - Chief Financial Officer Conference Call Participants Guilherme Mendes - JPMorgan Chase & Co, Research Division Andres Cardona - Citigroup Inc., Research Division Daniel Vielman - BofA Securities, Research Division Presentation Operator Good morning, and welcome to the Corporación América Airports' Third Quarter 2025 Conference Call.
Corporacion America Airports S.A. (CAAP) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.53 per share.
| Passenger Airlines Industry | Industrials Sector | Martin Francisco Antranik Eurnekian Bonnarens CEO | NYSE Exchange | L1995B107 CUSIP |
| LU Country | 6,100 Employees | - Last Dividend | 2 Feb 2018 Last Split | - IPO Date |
Corporación América Airports S.A., a notable entity in the global airport management sector, specializes in the acquisition, development, and operation of airport concessions. With a broad footprint, the organization operates 52 airports across Latin America, Europe, and Eurasia, marking a significant presence in the international arena. Initially known as A.C.I. Airports International S.à r.l., the company underwent a rebranding process in September 2017, adopting its current name to better reflect its expanded operations and ambitions. Founded in 1998 and headquartered in Luxembourg City, Luxembourg, Corporación América Airports S.A. functions under the umbrella of A.C.I. Airports S.à r.l., showcasing a strategic alignment within its parent organization's vast network.
This pivotal function involves identifying potential airport concessions for acquisition, thus expanding the company's portfolio. It underpins the strategic growth and operational spread of Corporación América Airports S.A. across its target markets.
Post-acquisition, the focus shifts to developing these concessions to meet the highest standards of efficiency, safety, and passenger experience. This includes the modernization of facilities, implementation of cutting-edge technologies, and enhancement of operational capabilities to cater to increasing passenger volumes and changing market needs.
The core of the company's offering, operating airport concessions, involves the comprehensive management of airport facilities. This encompasses a multitude of services including, but not limited to, terminal management, airside operations, security, retail and commercial offerings, and customer service. Corporación América Airports S.A. leverages its extensive experience and innovation core to ensure smooth operations across its global network of airports.