The call presents a generally positive operational and financial picture driven by strong revenue growth (particularly commercial and non-aeronautical), solid full-year EBITDA growth and margins, healthy liquidity and a clear multi-year CapEx program. Significant near-term headwinds include a large hurricane-related traffic decline in Jamaica, Q4 margin compression from higher fees and internalization of certain operations, and a YoY net income decline due to financial costs and tax adjustments. Management provided constructive 2026 guidance and a clear timeline for CBX integration, but acknowledged external risks. On balance, the positive growth, strong commercial execution, liquidity and forward guidance outweigh the discrete operational and financial challenges described.

Company Guidance

GAP guided 2026 passenger traffic growth of 2%–5% (with Jamaica recovery expected roughly -2% to 0% for the year), aeronautical revenues up 9%–12%, non‑aeronautical revenues up 6%–9%, total revenues up 8%–11% year‑over‑year, EBITDA growth of 8%–11% and an EBITDA margin roughly 65% (±1 percentage point); the company noted a 95% target fulfillment for tariff increases, said the guidance excludes the CBX business combination and Technical Assistance Agreement internalization, and flagged FX, inflation and natural‑event volatility as key risks.

Strong Revenue Growth (Quarter and Full Year)

Q4 combined aeronautical and aeronautical service revenues rose 12.8% YoY; aeronautical revenues grew 12.6% YoY and new aeronautical revenues increased 13.3% QoQ. For FY2025, aeronautical revenue grew 19.4% YoY.

Robust Non-Aeronautical Performance

Non-aeronautical revenue increased 26.5% YoY for FY2025. Non-aeronautical revenue per passenger rose to MXN 152 from MXN 123 in 2024, an increase of ~23.6%, driven by improved commercial execution and stronger cargo/warehouse contribution (notable strength in Food & Beverage, Retail, Ground Transportation and Leasing).

EBITDA Growth and Solid Full-Year Margin

Q4 EBITDA increased 7.5% YoY to MXN 5.1 billion. FY2025 EBITDA increased 17.8% YoY to MXN 21.3 billion. FY EBITDA margin excluding IFRIC 12 remained strong at 65.6%.

Healthy Liquidity and Strengthened Capital Structure

Closed the year with MXN 10.5 billion in cash and cash equivalents. Management strengthened capital structure via issuance of bond certificates and reduced some bank loan pressure, maintaining financing flexibility.

CapEx Execution and Long-Term Infrastructure Program

Invested MXN 12.4 billion in 2025 (first year of the 2025–2029 Master Development Program), including investments in Jamaican airports and commercial initiatives, positioning for future passenger growth and terminal expansions in Mexico.

Strategic CBX Transaction Approved

Shareholders approved the business combination between CBX and the Terminal Assistance Agreement; formalization in process with expected consolidation in Q2 2026 and material efficiencies visible by Q4 2026; full synergy program targeted by mid-2027, expected to enhance Cross Border Xpress platform and long-term value creation.

Positive 2026 Guidance

Management expects 2026 passenger traffic growth of 2%–5%; aeronautical revenues +9%–12%; non-aeronautical revenues +6%–9%; total revenues +8%–11%; EBITDA +8%–11% with EBITDA margins around 65% (±1%).

Mexico Passenger and Commercial Momentum

Mexico passenger traffic increased ~2.7% for the year and Q4 Mexico passenger growth reported ~2.9%, with commercial revenues particularly strong (cargo and bonded warehouse) and contract renegotiations improving commercial space performance.

Jamaica Recovery Outlook

Despite Hurricane Melissa impacts, management reports hotel and tourist infrastructure recovery ahead of expectations and cites minister guidance that hotel capacity could return to 100% by winter 2026; expects Jamaica passenger impact to improve to -2% to 0% by year-end.

Grupo Aeroportuario del Pacifico (PAC) 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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PAC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2026	2026 (Q1)	3.64 / -	2.884	―	―	―
Feb 24, 2026	2025 (Q4)	2.61 / 2.06	2.086	-1.39% (-0.03)	―
Oct 21, 2025	2025 (Q3)	2.86 / 2.90	1.976	46.51% (+0.92)
Jul 22, 2025	2025 (Q2)	2.89 / 2.82	3.165	-10.84% (-0.34)
Apr 28, 2025	2025 (Q1)	2.65 / 2.88	2.877	0.24% (<+0.01)
Feb 24, 2025	2024 (Q4)	2.08 / 2.09	2.261	-7.74% (-0.18)	―	―
Oct 21, 2024	2024 (Q3)	2.13 / 1.98	2.581	-23.44% (-0.60)
Jul 22, 2024	2024 (Q2)	2.30 / 3.17	2.399	31.93% (+0.77)
Apr 23, 2024	2024 (Q1)	2.31 / 2.88	2.809	2.42% (+0.07)	―
Feb 26, 2024	2023 (Q4)	2.42 / 2.26	1.773	27.52% (+0.49)	―

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

PAC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 24, 2026	$279.18	$264.50	-5.26%
Oct 21, 2025	$219.24	$209.75	-4.33%
Jul 22, 2025	$224.04	$215.32	-3.89%
Apr 28, 2025	$198.72	$195.31	-1.71%

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 Grupo Aeroportuario Del Pacifico (PAC) report earnings?

Grupo Aeroportuario Del Pacifico (PAC) is schdueled to report earning on Apr 29, 2026, TBA (Confirmed).

What is Grupo Aeroportuario Del Pacifico (PAC) earnings time?

Grupo Aeroportuario Del Pacifico (PAC) earnings time is at Apr 29, 2026, TBA (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 PAC EPS forecast?

PAC EPS forecast for the fiscal quarter 2026 (Q1) is 3.64.