Copa Holdings (CPA) April Traffic Rises From 2023 Levels

Copa Holdings, S.A. CPA reported solid traffic numbers for April 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in April on a year-over-year basis.

To match the demand swell, CPA is increasing its capacity. In April, available seat miles (a measure of capacity) increased 9.6% year over year. Revenue passenger miles increased 11.2%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 86.6% from 85.3% in April 2023.

Impressive air traffic has led to an 8.5% appreciation in the CPA stock in the past three months. This northward movement compares favorably with the 6.4% surge recorded by the Zacks Airline industry in the same time frame.

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Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for April. Ryanair Holdings RYAAY, a European carrier, also reported solid traffic numbers for April 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in April was 17.30 million, implying that 8% more passengers flew than a year ago.

RYAAY’s traffic in April was much more than the March reading of 13.6 million. The April traffic figure was impressive despite almost 700 flights being canceled due to the Israel/Gaza conflict. More than 340 flights were canceled due to the French ATC (air traffic control) strike on Apr 25. The April load factor was an impressive 92%. Notably, RYAAY operated 98,400 flights in April.

Zacks Rank and Stocks to Consider

CPA currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks for investors’ consideration in the Zacks Transportation sector include GATX Corporation GATX and Trinity Industries, Inc. (TRN). Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

GATX has an encouraging earnings surprise history. The company has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the other). The average beat is 7.49%.

The Zacks Consensus Estimate for 2024 earnings has been revised 3% upward over the past 90 days. GATX has an expected earnings growth rate of 6.79% for 2024. Shares of the company have risen 18.4% in the past year.

Trinity raised 2024 earnings per share guidance to the range of $1.35 to $1.55 (which excludes items outside of the company’s core business operations) from $1.30 to $1.50 guided previously.

Over the past 30 days, the Zacks Consensus Estimate for TRN’s 2024 earnings has been revised 2.7% upward. For 2024, TRN’s earnings are expected to grow 8.70% year over year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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