Corporacion America

CAAP

Market cap $4.31B

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.

Corporacion America Airports is at all-time highs. This has been driven by strong Q3 earnings, a new concession, and improving Argentine macro conditions. Q3 results impressed with strong top-line growth and improving profit margins. The company's new Baghdad airport concession may seem risky at first glance, but it could be a sound investment over time.

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.

LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) one of the leading private airport operators in the world, reported today its unaudited, consolidated results for the three and nine-month periods ended September 30, 2025. Financial results are expressed in millions of U.S. dollars and are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (“IASB”). Commenci.

LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 10.2% year-on-year (YoY) increase in passenger traffic in October 2025. Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2025 vs. 2024) Statistics Oct'25 Oct'24 % Var.   YTD'25 YTD'24 % Var.   Domestic Passengers (thousands) 3,925 3,596 9.1%   36,688 33,561 9.3%   International Passengers (thousands).

LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), one of the leading private airport operators in the world, today announced that it will report its Third Quarter 2025 results on Monday, November 24, before market opens. We remind all participants to connect through the telephone in order to ask questions. Earnings Release Monday, November 24, 2025 Time: Before Market Opens Conference Call Monday, November 24, 2025 Time: 10:00 am Eastern Time Executives Mr. Martín Eur.

LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 9.4% year-on-year (YoY) increase in passenger traffic in September 2025. Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2025 vs. 2024) Statistics Sep'25 Sep'24 % Var. YTD'25 YTD'24 % Var. Domestic Passengers (thousands) 3,743 3,376 10.9% 32,763 29,965 9.3% International Passengers (thousands) 2,971.

Corporación América Airports delivered strong Q2 results with double-digit revenue and EBITDA growth, record passenger traffic, and margin expansion across its diversified portfolio of 52 airports in six countries. The company ended Q2 with $595M in total liquidity and net debt/EBITDA at only 1.0x, supporting long-term investment plans and new concessions without balance sheet stress. Despite EBITDA margins above 34% and FCF margins exceeding 22%, Corporación América Airports trades at EV/EBITDA FWD of 5.5x, over 50% below industry averages, highlighting clear undervaluation.

Corporación América Airports S.A. (CAAP) operates over 50 airports globally, with a strong presence in Argentina and a business model featuring protective contracts and moats. Despite Argentina's volatile macro environment, CAAP benefits from long-term concessions, inflation-linked revenues, and operational leverage, supporting margin growth and profitability. Valuation is attractive, with CAAP trading at a significant discount to peers, offering an estimated 11% IRR and 15% upside even under conservative assumptions.