MEXICO CITY - Grupo Aeroportuario del Sureste (NYSE:ASR), S.A.B. de C.V. (NYSE: ASR; BMV: ASUR), known as ASUR, an international airport group with operations in Mexico, the U.S., and Colombia, has reported its passenger traffic figures for May 2024. A total of 5.8 million passengers were handled across its network, marking a 3.0% increase from May 2023.
The data indicates a significant regional variance, with Colombian airports experiencing a 20.2% surge in passenger numbers, while Puerto Rico's traffic grew by 4.3%. Mexico, on the other hand, saw a 3.0% decrease in overall passenger traffic. The growth in Colombia was particularly notable in international traffic, which jumped by 30.1%, and domestic traffic, which rose by 17.8%. Puerto Rico also saw increases in both domestic (3.1%) and international traffic (15.4%). In contrast, Mexico's domestic and international traffic declined by 4.6% and 1.3%, respectively.
These figures encapsulate the period from May 1 to May 31, 2024, and are compared with the same period in 2023. The report includes passengers in transit and general aviation for Mexico and Colombia but excludes these categories for Puerto Rico.
The detailed traffic report for Mexico shows mixed results across different airports. Cancun reported a notable decline of 14.7% in domestic traffic, while Cozumel saw a significant increase of 45.8%. On the international front, Cancun's traffic decreased by 2.3%, whereas Huatulco enjoyed a 44.0% rise.
San Juan Airport in Puerto Rico consistently reported growth, with a 9.9% increase year-to-date in total passenger traffic. Colombia's traffic performance was strong, with Rionegro airport leading with a 21.9% increase in total traffic.
ASUR operates a total of 16 airports across the Americas, including nine in southeast Mexico and six in northern Colombia. It is also a 60% JV partner in Aerostar Airport Holdings, LLC, which operates the Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
This report is based on a press release statement from Grupo Aeroportuario del Sureste, S.A.B. de C.V.
InvestingPro Insights
Grupo Aeroportuario del Sureste's (ASUR) latest passenger traffic report shows a nuanced performance across its network, yet the company's financial health remains robust. With a market capitalization of $9.99 billion USD, ASUR's valuation reflects its significant presence in the airport operations sector. The company's Price/Earnings (P/E) ratio stands at 16.16, aligning with industry standards and suggesting a balanced valuation relative to its earnings. Moreover, the P/E ratio adjusted for the last twelve months as of Q1 2024 is slightly lower at 16.11, indicating consistent earning power.
Investors in ASUR have witnessed substantial returns, with a 6-month price total return of 40.48% and a year-to-date return of 17.64%, signaling strong investor confidence. Additionally, the company's dividend yield as of the latest data is 1.9%, coupled with an impressive dividend growth of 21.0% over the last twelve months as of Q1 2024. This growth reflects ASUR's commitment to shareholder returns and its ability to generate and distribute excess profits.
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