Copa Holdings delivered strong financial results with industry-leading margins and significant network expansion. However, challenges such as declining passenger yields and unit revenues indicate some areas of concern. Operational performance remains excellent, positioning Copa well for continued growth.

Company Guidance -

Q3 2025

During the Copa Holdings second-quarter earnings call, the company reported a robust operating margin of 21% and a net margin of 17.7%, highlighting its strong financial performance. Capacity increased by 5.8% year-over-year, while the load factor improved to 87.3%, up 0.5 percentage points from the previous year. Despite a 4.1% decline in passenger yields, unit revenues (RASM) decreased only by 2.8% to $0.107, and unit costs (CASM) dropped by 4.6% to $0.085, with CASM excluding fuel rising by 3.2% to $0.058. The airline maintained exceptional operational metrics, achieving a 91.5% on-time performance and a 99.8% flight completion factor. Looking ahead, Copa reaffirmed its full-year operating margin guidance of 21% to 23%, with expectations for a capacity growth of 7% to 8%, a load factor of approximately 87%, and RASM of around $0.112.

Strong Financial Performance

Achieved an operating margin of 21% and a net margin of 17.7%, both among the best in the industry. Net profit increased by 25% year-over-year.

Operational Excellence

Maintained on-time performance of 91.5% and a flight completion factor of 99.8%. Recognized by Skytrax as the Best Airline in Central America and the Caribbean for the 10th consecutive year.

Capacity and Network Expansion

Capacity increased by 5.8% year-over-year, with new services to San Diego and restarted flights to Caracas. Announced new destinations including Los Cabos and Puerto Plata.

Strong Balance Sheet

Ended the quarter with $1.4 billion in cash, representing 39% of last 12-month revenue, and a low adjusted net debt-to-EBITDA ratio of 0.6x.

Fleet Expansion

Took delivery of 3 Boeing 737 MAX-8 aircraft, with plans to end 2025 with a fleet of 125 aircraft. Secured financing for all 2025 deliveries.

Copa Holdings (CPA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CPA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2025	2025 (Q3)	4.03 / -	3.5	―	―	―
Aug 06, 2025	2025 (Q2)	3.35 / 3.61	2.88	25.35% (+0.73)	―
May 07, 2025	2025 (Q1)	3.94 / 4.28	4.19	2.15% (+0.09)	―
Feb 12, 2025	2024 (Q4)	3.78 / 3.99	4.47	-10.74% (-0.48)	―
Nov 20, 2024	2024 (Q3)	3.58 / 3.50	4.39	-20.27% (-0.89)	―
Aug 07, 2024	2024 (Q2)	2.83 / 2.88	3.92	-26.53% (-1.04)	―
May 15, 2024	2024 (Q1)	3.38 / 4.19	3.99	5.01% (+0.20)	―
Feb 07, 2024	2023 (Q4)	3.92 / 4.47	4.49	-0.45% (-0.02)	―
Nov 15, 2023	2023 (Q3)	3.82 / 4.39	2.91	50.86% (+1.48)	―
Aug 09, 2023	2023 (Q2)	3.28 / 3.92	0.32	1125.00% (+3.60)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CPA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$112.12	$116.31	+3.74%
May 07, 2025	$95.22	$99.20	+4.18%
Feb 12, 2025	$88.37	$91.79	+3.87%
Nov 20, 2024	$100.68	$88.26	-12.34%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Copa Holdings (CPA) report earnings?

Copa Holdings (CPA) is schdueled to report earning on Nov 12, 2025, After Close (Confirmed).

What is Copa Holdings (CPA) earnings time?

Copa Holdings (CPA) earnings time is at Nov 12, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CPA EPS forecast?

CPA EPS forecast for the fiscal quarter 2025 (Q3) is 4.03.

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