ASUR reported 3Q26 results with total revenue up 18.9% YoY to Ps.10,420.5 million, driven by the CPC Aeroportos acquisition and U.S. commercial operations, but organic performance was weak: total passenger traffic declined 1.2% YoY, Mexico traffic fell 4.6%, and adjusted EBITDA margin contracted to 60.3% from 66.7%. Net debt surged to Ps.49.9 billion from Ps.5.0 billion a year ago (net debt-to-LTM EBITDA of 2.6x vs 0.2x, reflecting the CPC acquisition financing.
Price Chart
Executive Summary
ASUR reported 3Q26 results with total revenue up 18.9% YoY to Ps.10,420.5 million, driven by the CPC Aeroportos acquisition and U.S. commercial operations, but organic performance was weak: total passenger traffic declined 1.2% YoY, Mexico traffic fell 4.6%, and adjusted EBITDA margin contracted to 60.3% from 66.7%. Net debt surged to Ps.49.9 billion from Ps.5.0 billion a year ago (net debt-to-LTM EBITDA of 2.6x vs 0.2x, reflecting the CPC acquisition financing.
Key Facts
- Total revenue increased 18.9% YoY to Ps.10,420.5 million; excluding construction services, revenue grew 12.6%
- Total passenger traffic decreased 1.2% YoY, with Mexico down 4.6% and Puerto Rico down 3.2%
- Consolidated EBITDA rose only 1.7% YoY to Ps.4,719.3 million
- Adjusted EBITDA margin (ex-IFRIC 12) fell to 60.3% from 66.7%
- Net debt surged to Ps.49.9 billion from Ps.5.0 billion a year ago (net debt-to-LTM EBITDA 2.6x vs 0.2x
- Majority net income per ADS (US$) increased 2.1% to US$3.9825
- Cash and cash equivalents totaled Ps.20,091.8 million
- 3Q26 includes Ps.456.4 million revenue from U.S. commercial operations and Ps.676.4 million from Brazil & Others (one month of CPC Aeroportos
Financial Impact
Revenue growth is entirely acquisition-driven; organic traffic decline in core Mexico and Puerto Rico; EBITDA margin compression of 6.4 percentage points; net debt increased 10x from CPC financing
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-118175 |
| Document: tm2628145d1_6k.htm | 0001104659-26-118175 |
| Document: 0001104659-26-118175-index-headers.html | 0001104659-26-118175 |
| Document: 0001104659-26-118175-index.html | 0001104659-26-118175 |
| Document: 0001104659-26-118175.txt | 0001104659-26-118175 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | 6-K | $251.00 | awaiting T+1 | — | $253.30 (+0.92%) |
Oct 20, 2026 5d ago | Institutional Cluster | $252.80 $251.00 | ▲ +0.71% | ▼ −0.47% | $253.30 (−0.20%) |
Oct 8, 2026 17d ago | 6-K | $231.75 $237.43 | ▲ +2.45% | ▲ +2.51% | $253.30 (+9.30%) |
Oct 7, 2026 18d ago | 6-K | $230.39 $231.75 | ▲ +0.59% | ▼ −0.01% | $253.30 (+9.94%) |
Sep 28, 2026 28d ago | 6-K | $243.96 $240.96 | ▼ −1.23% | ▼ −1.05% | $253.30 (+3.83%) |
Aug 20, 2026 9w ago | 6-K | $259.16 $262.58 | ▲ +1.32% | ▲ +0.91% | $253.30 (−2.26%) |
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