Grupo Aeroportuario Del Centro Norte S.a.b. De C.v Stock Earnings Reports

OMA reported modest passenger growth in Q2 2026 (7.2 million passengers, +0.4% YoY) with domestic traffic up 0.6% and international down 1.2%. Volaris grew 7% while Viva declined 2%. Airlines opened 24 new routes (18 domestic, 6 international), including Aeroméxico Paris and Iberia Madrid launches from Monterrey. Aeronautical revenues rose ~4% (tariff adjustment effective mid-April) and non‑aeronautical revenues grew ~9.8%; commercial revenue per passenger reached Ps. 66.4 (+6.3%). Diversification revenues jumped 17% driven by OMA Carga (+29%). Adjusted EBITDA increased ~6–6.6% to Ps. 2.7 billion, with an adjusted EBITDA margin of 75.2%. Consolidated net income was Ps. 1.5 billion (+10.2% YoY). Cash from operations was Ps. 1.8 billion; cash balance Ps. 2.6 billion. Total debt was Ps. 14.3 billion with net debt/adjusted EBITDA ~1.1x. Management invested Ps. 949 million in the quarter (total 1H investments ~Ps.1.4 billion) and expects 2026 total investments of Ps. 3.5–4.0 billion. The company issued Ps. 3.0 billion in long-term notes in July to refinance short-term debt and maturing notes and to fund MDP and working capital. Key strategic highlights: strong cargo momentum and warehouse expansion (OMA Carga), upcoming Monterrey terminal and commercial area openings (supporting future commercial revenue per pax), active collaboration and know‑how sharing with VINCI, and achievement of an aggressive sustainability target (88% reduction in Scope 1 & 2 emissions per passenger vs. 2018 baseline). Management expects full‑year maximum tariff compliance of ~93–95% and forecasts traffic to be flat to low single digits for the remainder of the year given fuel/jet‑fuel pressures; reaching full maximum tariff is targeted around end‑2027 to mid‑2028.