CAAP Q3 2023 Earnings Report — Corporación América Airports S.A. Revenue & Financial Results | Market Cap Arena

Corporación América Airports S.A.CAAP

Q3 2023 Earnings

Reported September 30, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2023	Q2 2023	Q3 2022	QoQ Change	YoY Change
Revenue	$470M	—	$395M	—	18.7%
Op. Income	$133M	—	$89M	—	49.5%
Gross Margin	37.1%	—	31.9%	—	5.2pp
Net Margin	9.9%	—	14.5%	—	-4.6pp
EPS (Diluted)	$0.29	—	$0.36	—	-19.4%
Free Cash Flow	$147M	—	$76M	—	92.7%

Revenue Flow

Item	Amount
REVENUE	$470M
Cost of Revenue	$296M
GROSS PROFIT	$174M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$40M
Other Expenses	$604.0K
Operating Expenses	$41M
Cost & Expenses	$336M
OPERATING INCOME	$133M
Interest Income	$23M
Interest Expense	$27M
Other Income/Expenses	-$62M
INCOME BEFORE TAX	$71M
Income Tax Expense	$19M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$41M
EBIT	$133M
EBITDA	$175M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$470M
Cost of Revenue	$296M
GROSS PROFIT	$174M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$40M
Other Expenses	$604.0K
Operating Expenses	$41M
Cost & Expenses	$336M
OPERATING INCOME	$133M
Interest Income	$23M
Interest Expense	$27M
Other Income/Expenses	-$62M
INCOME BEFORE TAX	$71M
Income Tax Expense	$19M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$41M
EBIT	$133M
EBITDA	$175M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$46M
Depreciation & Amortization	$46M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$53M
Change in Working Capital	$4M
OPERATING CASH FLOW	$150M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$40M
NET CASH FROM INVESTING	-$42M
Net Debt Issuance	-$23M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$24M
NET CASH FROM FINANCING	-$47M
FREE CASH FLOW	$147M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$463M
Short-Term Investments	$89M
Net Receivables	$203M
Inventory	$16M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$776M
PP&E (Net)	$81M
Goodwill	$9M
Intangible Assets	$3.0B
Long-Term Investments	$23M
Tax Assets	$60M
Other Non-Current Assets	$67M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$4.1B
Account Payables	$119M
Short-Term Debt	$154M
Deferred Revenue	$6M
Other Current Liabilities	$289M
TOTAL CURRENT LIABILITIES	$632M
Long-Term Debt	$1.3B
Deferred Revenue NC	$13M
Deferred Tax Liabilities	$267M
Other Non-Current Liabilities	$854M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$3.0B
Common Stock	$163M
Additional Paid-In Capital	$183M
Retained Earnings	$347M
Treasury Stock	-$4M
Accum. Other Comp. Income	$185M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$874M
Minority Interest	$140M
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$1.4B
Net Debt	$969M