Panamanian airline Copa Holdings Q3 net profit rises

Overview

• Copa Holdings Q3 net profit rises 18.7% yr/yr, operating margin increases 2.9 percentage points

• Revenue per available seat mile up 1.0% yr/yr, operating costs per ASM down 2.7%

• Company expands fleet, adding five Boeing 737 MAX 8 and one 737-800 freighter

Outlook

• Company expects to receive one additional Boeing 737 MAX 8 aircraft before year-end

Result Drivers

• PASSENGER REVENUE - Passenger revenue increased, contributing to overall revenue growth

• FLEET EXPANSION - Delivery of five Boeing 737 MAX 8 and one 737-800 freighter expanded fleet, supporting capacity growth

• OPERATIONAL EFFICIENCY - Load factor increased 1.8 percentage points to 88.0%, supporting operational efficiency

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the airlines peer group is "buy"

• Wall Street's median 12-month price target for Copa Holdings SA is $152.50, about 19.2% above its November 18 closing price of $123.21

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nGNX3xKqJY

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)