Grupo Aeroportuario del Pacifico Q3 Comprehensive Income Rises 32.8% on CBX Integration
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (BMV: GAP/B) reported a 32.8% increase in third-quarter comprehensive income to Ps. 3.27 billion, up from Ps. 2.46 billion in the same period last year. Total revenues grew 21.8% to Ps. 2.09 billion higher, supported by the integration of Cross Border Xpress operations that took effect in May 2026. EBITDA rose 19.2% to Ps. 6.06 billion.
The acquisition and consolidation of Cross Border Xpress provided a significant top-line boost, contributing Ps. 775.5 million in non-aeronautical revenue and over one million users during the quarter. Without Cross Border Xpress, total revenue growth was 13.7%. Despite revenue gains, overall passenger traffic across the company's 14 airports fell 1.4%, or 222,000 passengers, dragged down by a 15.8% traffic decline at Jamaican airports. Mexican airport traffic rose 0.4%, helped by approved tariff adjustments.
Investors should monitor traffic recovery in Jamaica and the final accounting valuation of assets and liabilities from the business combination, which remains preliminary. Higher debt taken on to fund capital expenditures and acquire a 25% equity interest in Cross Border Xpress also pushed interest expenses up 41.8%, making borrowing costs a key metric to follow in coming quarters.
Key points
- Comprehensive income rose 32.8% year-over-year to Ps. 3.27 billion in the third quarter of 2026.
- Total revenues increased 21.8%, boosted by the integration of Cross Border Xpress operations.
- Total passenger traffic across 14 airports fell 1.4% due to a 15.8% drop in Jamaican airport traffic.
- Interest expenses grew 41.8% as the company increased debt to fund capital spending and investments.
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What were Grupo Aeroportuario del Pacifico's Q3 2026 earnings?
Comprehensive income reached Ps. 3.27 billion, up 32.8% from Ps. 2.46 billion in the third quarter of 2025.
Why did revenue increase for Grupo Aeroportuario del Pacifico in Q3 2026?
Total revenues rose 21.8% due to higher tariffs in Mexico and the addition of Cross Border Xpress operations.
How did passenger traffic perform for GAP in Q3 2026?
Passenger traffic decreased 1.4% overall, as a 15.8% drop at Jamaican airports offset a 0.4% gain in Mexico.