Copa Holdings Shares Down 7.6% After Hours as Earnings Decline

Dow Jones

Nov 21, 2024

By Josh Beckerman

Copa Holdings shares were down 7.4% to $98 after hours after the company reported lower third-quarter earnings and said revenue declined 1.5% to $854.7 million.

The holding company for Copa Airlines and Wingo said revenue and operating margin were hurt by the last-minute suspension of flights between Panama and Venezuela at the end of July, weaker currencies in Latin America and increased industry capacity in the region.

Adjusted earnings per basic share declined to $3.50 from $4.39.

Copa expects 2024 capacity growth of about 9%, and expects an increase of about 7% to 9% in 2025.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 20, 2024 19:01 ET (00:01 GMT)

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