See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Copa Holdings, S.A. (CPA) - free report >>
ArcBest Corporation (ARCB) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Copa Holdings, S.A. (CPA) - free report >>
ArcBest Corporation (ARCB) - free report >>
Image: Bigstock
Copa Holdings (CPA) January Traffic Down 66% on COVID-19 Woes
Copa Holdings, S.A. (CPA - Free Report) reported a significant decline in January traffic as it grapples with coronavirus-led travel demand woes. Consolidated traffic, measured in revenue passenger miles (RPMs), plunged 66% year over year to 621.4 million.
With travel demand significantly below 2019 levels, the airline’s capacity (measured in available seat miles/ASMs), declined 54.8% year over year to 979.5 million in January. Load factor (percentage of seats filled by passengers) slipped 2080 basis points to 63.4% as traffic decreased more than the contraction in capacity.
Amid coronavirus-induced tepid travel demand, the carrier incurred a loss (excluding $1.97 from non-recurring items) of $2.00 per share in fourth-quarter 2020, wider than the Zacks Consensus Estimate of a loss of $1.90.
Copa Holdings, S.A. Price
Copa Holdings, S.A. price | Copa Holdings, S.A. Quote
Quarterly revenues of $158.6 million beat the Zacks Consensus Estimate of $153.4 million. However, the top line plunged 76.7% year over year with passenger revenues (contributed 93% to the top line) declining 77.6%.
Owing to COVID-19’s effect on the aviation industry, the company operated at a capacity of approximately 27% of its 2019 level in the fourth quarter.
Zacks Rank & Key Picks
Copa Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. (ARCB - Free Report) , Saia, Inc. (SAIA - Free Report) and Herc Holdings Inc. (HRI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of ArcBest, Saia and Herc Holdings have rallied more than 77%, 57% and 80% in the past six months, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>