ASR falls after 1Q26 profit drop and margin compression despite traffic growth
Grupo Aeroportuario del Sureste (ASR) is sliding after reporting 1Q26 results showing EBITDA down 6.5% year over year to Ps.5,353.6 million and net income down 19.6% to Ps.2,926.4 million. The company also reported total passenger traffic up 1.9% YoY, with Mexico flat and Puerto Rico down 2.2%, and is holding its earnings call today at 10:00 a.m. ET.
1. What’s moving the stock
Grupo Aeroportuario del Sureste’s ADRs are trading lower as investors digest a weaker earnings mix in 1Q26: consolidated EBITDA fell 6.5% year over year to Ps.5,353.6 million and net income dropped 19.6% to Ps.2,926.4 million. The selloff comes even as total passenger traffic rose 1.9% YoY, pointing to margin and profitability pressure rather than a demand collapse. (prnewswire.com)
2. Key numbers from the quarter
In the quarter ended March 31, 2026, total passenger traffic increased 1.9% YoY, led by an 11.0% increase in Colombia, while Mexico traffic was essentially flat (-0.1%) and Puerto Rico traffic fell 2.2%. Commercial revenue per passenger increased 4.7% to Ps.153.6, but the adjusted EBITDA margin (excluding IFRIC 12 effects) declined to 64.1% from 70.0% in 1Q25, highlighting operating leverage moving against the company. (prnewswire.com)
3. What investors are watching next (today)
Management is scheduled to discuss the quarter on a live conference call today (Thursday, April 23, 2026) at 10:00 a.m. ET. With the stock reacting negatively, the focus is likely to be on explanations for the year-over-year margin compression and whether traffic trends—especially in Mexico and Puerto Rico—are improving into 2Q26. (asur.com.mx)