Copa Holdings SA (CPA) Monday said first-quarter profit improved to $113.83 million or $2.56 per share from $95.93 million or $2.16 per share in the same period last year.
Adjusted earnings for the quarter was $124.4 million or $2.80 per share for the quarter. On average, 10 analysts polled by Thomson Reuters expected the company to earn $2.30 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues totaled $641.28 million, up 18 percent from $543.26 million last year. Analysts expected revenues of $623.61 million.
Traffic, measured in revenue passenger miles or RPMs, increased 19.5 percent to 3.53 billion from 2.95 billion last year.
Capacity, measured in avaiable seat miles or ASMsm, totaled 4.59 billion, up from 3.83 billion last year.
Load factor for the period was 76.9 percent, compared to 77.2 percent last year.
For comments and feedback: editorial@rttnews.com