Shares of Corporacion America Airports S.A. (CAAP) plunged 6.54% in pre-market trading on Wednesday following the release of its fourth-quarter 2024 earnings report. The airport operator missed analyst expectations on earnings per share but surpassed revenue estimates.
CAAP reported quarterly earnings of $0.21 per share, falling short of the analyst consensus estimate of $0.33 by 36.36%. This represents a significant decrease of 74.07% compared to earnings of $0.81 per share in the same period last year. However, the company's quarterly revenue came in at $461.1 million, beating the analyst consensus estimate of $424.366 million by 8.66%. This marks a 26.33% increase from sales of $365 million in the same quarter of the previous year.
Despite the revenue beat, investors seem to be focusing on the earnings miss and the year-over-year decline in profitability. The company's adjusted EBITDA for Q4 2024 decreased by 48.8% to $155.4 million, compared to $303.4 million in the year-ago period. The adjusted EBITDA margin also contracted significantly to 33.7% from 83.1% in Q4 2023. These factors, combined with the challenging economic environment in some of CAAP's key markets, particularly Argentina, appear to be driving the stock's pre-market decline.
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