Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Announces Quarterly Earnings Results

Key Points

• Quarterly results were mixed: Grupo Aeroportuario del Centro Norte earned $1.78 per share, $0.08 below estimates, but revenue reached $268.96 million, exceeding the $255.11 million consensus.
• Operating performance improved: Passenger traffic rose 1.3% to 7.7 million, adjusted EBITDA increased 8.7% to MXN 2.9 billion, and non-aeronautical revenue grew strongly, including a 42% jump in OMA Carga revenue.
• Growth faces some pressure: Management expects low-single-digit traffic growth in 2027, while higher debt drove financing expenses up 16.5%; analysts’ average rating remains “Hold,” with a $134 target price.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) issued its earnings results on Thursday. The transportation company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.86 by ($0.08), reports. The firm had revenue of $268.96 million for the quarter, compared to the consensus estimate of $255.11 million. Grupo Aeroportuario del Centro Norte had a net margin of 33.17% and a return on equity of 49.50%.

Here are the key takeaways from Grupo Aeroportuario del Centro Norte's conference call:

• Third-quarter operating performance strengthened: passenger traffic rose 1.3% year over year to 7.7 million, while adjusted EBITDA increased 8.7% to MXN 2.9 billion and the margin reached 75%.
• Non-aeronautical growth remained robust, with commercial revenue up 11% and diversification revenue up 20.4%; OMA Carga revenue increased 42% on new Monterrey clients, high-value cargo handling, and longer warehouse stays.
• OMA plans to raise the maximum tariff by slightly more than 4% nominally beginning January 1, targeting average compliance of 93% this year, 95% next year, and 100% by the third year of the current five-year plan.
• The company is expanding higher-margin commercial offerings, including a Premium Lounge in Acapulco and a 120-room Hyatt Place hotel at Monterrey Airport, while the airport’s larger commercial area is expected to lift Monterrey commercial revenue per passenger by about 15% in real terms once fully operational.
• Management expects traffic growth to remain in the low single digits in 2027, with recovery beginning around midyear, while higher debt levels increased financing expense 16.5% and limited net-income growth to 2.9%.

Grupo Aeroportuario del Centro Norte Stock Up 3.1%

OMAB traded up $3.01 on Thursday, reaching $101.26. The company's stock had a trading volume of 52,396 shares, compared to its average volume of 96,585. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.94 and a beta of 0.61. Grupo Aeroportuario del Centro Norte has a fifty-two week low of $87.31 and a fifty-two week high of $134.99. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average of $97.73 and a two-hundred day moving average of $107.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OMAB shares. Zacks Research lowered shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "strong sell" rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. raised shares of Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Grupo Aeroportuario del Centro Norte in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Grupo Aeroportuario del Centro Norte currently has an average rating of "Hold" and an average target price of $134.00.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V., operating under the OMA brand, is a Mexican airport infrastructure company. It develops, operates and maintains a portfolio of airports serving the central and northern regions of Mexico, including Monterrey International Airport and airports in destinations such as Acapulco, Chihuahua, Ciudad Juárez, Culiacán, Durango, Mazatlán, Reynosa, San Luis Potosí, Tampico, Torreón and Zacatecas.

OMA provides core airport services including passenger processing, aircraft landing and parking facilities, security-related infrastructure, baggage handling areas and cargo facilities.

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