Grupo Aeroportuario Del Centro Norte, S.A.B. De C.V. (OMAB) Q2 2025 Earnings Call Transcript
Passenger Traffic OMA's passenger traffic totaled 7.2 million, an 11% increase year-over-year. Domestic passenger traffic grew by 10%, driven by Monterrey Airport, while international passenger traffic increased by 19%, also led by Monterrey Airport.
Aeronautical Revenues Aeronautical revenues increased 17% year-over-year, driven by higher aeronautical yields and increased domestic and international passenger traffic.
Commercial Revenues Commercial revenues grew 20% year-over-year, with commercial revenue per passenger increasing by 8% to MXN 62. Growth was mainly driven by restaurants, parking, VIP lounges, and retail.
Adjusted EBITDA Adjusted EBITDA increased 19% year-over-year to MXN 2.6 billion, with an adjusted EBITDA margin of 74.6%.
Capital Expenditures Total investments, including MDP investments, major maintenance, and strategic investments, amounted to MXN 965 million in the quarter.
Construction Revenues Construction revenues increased 64.7% year-over-year to MXN 916 million, driven by increased MDP investments.
Diversification Revenues Diversification activities increased 11% year-over-year, with industrial services contributing most to this growth. Industrial services grew over 100% due to an increase in leased square meters in the industrial park.
Hotel Services Revenue Revenue from hotel services increased 4% year-over-year to MXN 112 million, driven by higher average run rates, partially offset by lower occupancy rates.
Consolidated Net Income Consolidated net income was MXN 1.3 billion, a 3.8% increase year-over-year.
Cash Position Cash generated from operating activities was MXN 1.8 billion, while investing activities used MXN 575 million. Financing activities resulted in a net cash outflow of MXN 138 million, leaving a cash position of MXN 3.4 billion at the end of the quarter.
Trade with 70% Backtested Accuracy
Analyst Views on OMAB
About OMAB
About the author

ETF Analysis: The U.S. Global Jets ETF (JETS) has an implied analyst target price of $28.45 per unit, indicating a potential upside of 14.09% from its current trading price of $24.94.
Notable Holdings: Key underlying holdings with significant upside potential include Grupo Aeroportuario del Centro Norte (OMAB), LATAM Airlines Group (LTM), and Grupo Aeroportuario del Sureste (ASR), with expected target price increases of 20.31%, 18.53%, and 16.41% respectively.

Earnings Conference Call Overview: Grupo Aeroportuario del Centro Norte held its Q2 2025 earnings conference call on July 29, 2025, featuring key company executives discussing financial results and operational performance.
Forward-Looking Statements: The call included a reminder that certain statements made may be forward-looking and subject to risks and uncertainties that could impact actual results.
Stock Performance: Grupo Aeroportuario del Centro Norte SAB de CV (OMAB) shares have surpassed the average analyst 12-month target price of $97.60, currently trading at $99.26, prompting analysts to consider adjusting their target prices based on company performance.
Analyst Insights: The average target price is influenced by various analysts, with estimates ranging from $61.00 to $110.00, indicating differing opinions on the stock's valuation and future potential, encouraging investors to reassess their positions.

Financial Performance: Grupo Aeroportuario del Centro Norte reported a Q4 GAAP EPS of Ps. 3.07 and revenue of Ps. 4.12 billion, reflecting an 11.1% year-over-year increase.
Passenger Traffic Growth: The company experienced a 4.6% increase in passenger traffic during the fourth quarter.

Earnings Reports Overview: Several companies, including ON Semiconductor, CenterPoint Energy, and PROCEPT BioRobotics, are set to report earnings for Q3 2024, with most showing a decrease in expected earnings per share compared to the previous year.
Industry Comparisons: Zacks Investment Research indicates that many of these companies have higher Price to Earnings ratios than their industry averages, suggesting potential for better earnings growth relative to competitors.








