Copa Holdings, S.A. (CPA - Free Report) reported traffic figures for June. Traffic, measured in revenue passenger miles (RPMs), declined 3.9% to 1.75 billion in the month.
On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) decreased 4.8% year over year to 2.06 billion. Since capacity contracted more than the traffic, load factor (% of seats filled by passengers) improved 80 basis points (bps) to 85.1%.
In the first six months of 2019, the carrier generated RPMs of 10.59 billion, down marginally year over year, and ASMs of 12.58 billion (down 1.3%). Load factor increased 100 bps to 84.2% during the same period.
With the earnings season around the corner, let's find out how things are shaping up prior to the company’s second-quarter 2019 results.
Copa Holdings’ consistent cost-reduction efforts and focus on capacity discipline to drive efficiency should aid overall results in the second quarter.
Notably, this Zacks Rank #2 (Buy) company’s Zacks Consensus Estimate for second-quarter earnings has been revised 6.2% upward over the last 30 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Key Picks
Some other top-ranked stocks in the same space are Air China (AIRYY - Free Report) , United Airlines Holdings (UAL - Free Report) and Azul (AZUL - Free Report) . While Air China and United Airlines sport a Zacks Rank #1, Azul carries a Zacks Rank of 2.
Shares of Air China, United Airlines and Azul have rallied more than 17%, 6% and 39%, respectively, so far this year.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>