Copa Holdings, S.A. (CPA - Free Report) reported impressive traffic results for May. Traffic, measured in revenue passenger miles (RPMs), came in at 1.84 billion, up 16.1% from the year-ago figure.
On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) climbed 13.4% to 2.19 billion. As the escalation in traffic outpaced capacity growth, load factor (% of seats filled by passengers) expanded 200 basis points (bps) to 84.4% in the month.
For the first five months of 2018, Copa Holdings generated RPMs of 8.78 billion (up 11.8% year over year) and ASMs of 10.57 billion (up 10.1%). Load factor registered a rise of 130 bps year over year to 83%.
Notably, the company has been increasingly benefitting from solid demand for air travel, backed by an improved Latin American economy. The encouraging traffic report can also be attributed to this reason.
A positive scenario is all the more evident from the company’s robust first-quarter results reported last month. Total revenues rose 15.9% year over year, mainly owing to a 16.3% improvement in passenger revenues. The company's performance with respect to unit revenues is laudable as well. Both passenger revenue per available seat miles (PRASM) and RASM ascended 7.2% year over year.
Zacks Rank & Key Picks
Copa Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are GATX Corporation (GATX - Free Report) , SkyWest, Inc. (SKYW - Free Report) and Expeditors International of Washington, Inc. (EXPD - Free Report) . While GATX and SkyWest carry a Zacks Rank #2 (Buy), Expeditors sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of GATX and Expeditors have rallied more than 18% each, in the past six months, while SkyWest stock has gained above 9%.
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Copa Holdings, S.A. (CPA - Free Report) reported impressive traffic results for May. Traffic, measured in revenue passenger miles (RPMs), came in at 1.84 billion, up 16.1% from the year-ago figure.
On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) climbed 13.4% to 2.19 billion. As the escalation in traffic outpaced capacity growth, load factor (% of seats filled by passengers) expanded 200 basis points (bps) to 84.4% in the month.
For the first five months of 2018, Copa Holdings generated RPMs of 8.78 billion (up 11.8% year over year) and ASMs of 10.57 billion (up 10.1%). Load factor registered a rise of 130 bps year over year to 83%.
Notably, the company has been increasingly benefitting from solid demand for air travel, backed by an improved Latin American economy. The encouraging traffic report can also be attributed to this reason.
A positive scenario is all the more evident from the company’s robust first-quarter results reported last month. Total revenues rose 15.9% year over year, mainly owing to a 16.3% improvement in passenger revenues. The company's performance with respect to unit revenues is laudable as well. Both passenger revenue per available seat miles (PRASM) and RASM ascended 7.2% year over year.
Zacks Rank & Key Picks
Copa Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are GATX Corporation (GATX - Free Report) , SkyWest, Inc. (SKYW - Free Report) and Expeditors International of Washington, Inc. (EXPD - Free Report) . While GATX and SkyWest carry a Zacks Rank #2 (Buy), Expeditors sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of GATX and Expeditors have rallied more than 18% each, in the past six months, while SkyWest stock has gained above 9%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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