Copa Holdings Reports First-Quarter Financial Results

 

PANAMA CITY, May 07, 2025 (GLOBE NEWSWIRE) -- Copa Holdings1, S.A. (NYSE: CPA), today announced financial results for the first quarter of 2025 (1Q25). Key highlights include:

• Net profit of US$176.8 million or US$4.28 per share, a US$0.7 million increase compared to 1Q24.
• Operating profit of US$213.8 million and an operating margin of 23.8%, a 1.0% and 0.4 percentage point decrease, respectively, compared to 1Q24.
• Capacity, measured in available seat miles (ASMs), increased by 9.5% year over year.
• Operating cost per available seat mile excluding fuel (Ex-fuel CASM) decreased 4.3% compared to 1Q24 to 5.8 cents.
• Revenue per available seat mile (RASM) decreased 8.1% compared to 1Q24 to 11.5 cents.
• The Company ended the quarter with approximately US$1.3 billion in cash, short-term and long-term investments, which represent 39% of the last twelve months’ revenues.
• The Company closed 1Q25 with total debt, including lease liabilities, of US$1.9 billion, while the Adjusted Net Debt to EBITDA ratio ended at 0.5 times.
• The Company ended the quarter with a consolidated fleet of 112 aircraft: 67 Boeing 737-800, 32 Boeing 737 MAX-9, 9 Boeing 737-700, 3 Boeing 737 MAX-8, and 1 Boeing 737-800 freighter.
• Copa Holdings exercised options for six additional Boeing 737 MAX-8 aircraft expected to be delivered in 2028. This increases the Company's firm outstanding order book to 57 aircraft.
• Copa Airlines had an on-time performance for the quarter of 90.8% and a flight completion factor of 99.9%, once again positioning itself among the best in the industry.
  
  

Subsequent events

• On May 7, 2025, the Board of Directors of Copa Holdings ratified its second dividend payment for the year of US$1.61 per share. Dividends will be paid on June 13, 2025, to shareholders on record as of May 30, 2025.
  
  

Copa Holdings, S. A. and Subsidiaries Consolidated Operating and Financial Statistics
	1Q25		1Q24		% Change		4Q24		% Change
Revenue Passengers Carried (000s)	3,512		3,272		7.4	%	3,444		2.0	%
Revenue Passengers OnBoard (000s)	5,208		4,790		8.7	%	5,168		0.8	%
RPMs (millions)	6,743		6,127		10.1	%	6,682		0.9	%
ASMs (millions)	7,801		7,121		9.5	%	7,747		0.7	%
Load Factor	86.4	%	86.0	%	0.4 p.p		86.3	%	0.2 p.p
Yield (US$ Cents)	12.7		14.0		(9.1	)%	12.5		2.0	%
PRASM (US$ Cents)	11.0		12.1		(8.7	)%	10.8		2.2	%
RASM (US$ Cents)	11.5		12.5		(8.1	)%	11.3		1.6	%
CASM (US$ Cents)	8.8		9.5		(7.7	)%	8.7		0.8	%
CASM Excl. Fuel (US$ Cents)	5.8		6.1		(4.3	)%	5.9		(1.2	)%
Fuel Gallons Consumed (millions)	91.0		84.4		7.8	%	91.2		(0.3	)%
Avg. Price Per Fuel Gallon (US$)	2.54		2.90		(12.4	)%	2.38		6.6	%
Average Length of Haul (miles)	1,920		1,873		2.5	%	1,940		(1.1	)%
Average Stage Length (miles)	1,260		1,246		1.1	%	1,260		—	%
Departures	37,829		35,220		7.4	%	37,596		0.6	%
Block Hours	121,611		112,164		8.4	%	121,549		0.1	%
Average Aircraft Utilization (hours)	12.1		11.6		3.8	%	12.0		0.9	%
Operating Revenues (US$ millions)	899.2		893.5		0.6	%	878.6		2.3	%
Operating Profit (Loss) (US$ millions)	213.8		216.0		(1.0	)%	203.7		4.9	%
Operating Margin	23.8	%	24.2	%	-0.4 p.p		23.2	%	0.6 p.p
Net Profit (Loss) (US$ millions)	176.8		176.1		0.4	%	165.8		6.6	%
Basic EPS (US$)	4.28		4.19		2.2	%	3.98		7.7	%
Shares for calculation of Basic EPS (000s)	41,292		42,052		(1.8	)%	41,696		(1.0	)%

Full 1Q25 Earnings Release available for download at:

https://copa.gcs-web.com/financial-information/quarterly-results

1Q25 Earnings Conference Call and Webcast

Date:	May 8, 2025
Time:	11:00 AM US ET (11:00 AM Local Time)
Join by phone:	https://register-conf.media-server.com/register/BIcb85f85fa26a4d56b9369d66c4fb6a5c
Webcast (listen-only):	https://copa.gcs-web.com/events-and-presentations

Tags: Copa Holdings S.A.