OMA 2Q26: Net Income Climbs 10.2%, Adjusted EBITDA Rises 6.2% on Modest Traffic Growth
OMAB is trading near its 52-week low of $95.69 (13% above the low).
Summary
OMA reported 2Q26 earnings with net income up 10.2% and Adjusted EBITDA +6.2%, as higher non-aeronautical revenues offset flat passenger traffic. The company also met its sustainability performance target and published its first IFRS S1/S2 report.
Key Events · Earnings and Guidance · OMAB
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2Q26 Earnings Beat
Net income rose 10.2% to Ps.1,478 million, Adjusted EBITDA increased 6.2% to Ps.2,722 million, and EPS reached Ps.3.80 (EPADS US$1.74). Aeronautical and non-aeronautical revenues grew 5.4% despite only 0.4% passenger traffic growth.
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Non-Aeronautical Revenue Surge
Non-aeronautical revenues jumped 9.8%, led by a 29.1% increase in freight logistics (OMA Carga), 6.7% growth in commercial activities, and higher hotel occupancy and rates. Revenue per passenger rose to Ps.501.
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Capital Investments and MDP Progress
Capital investments and major maintenance under the Master Development Plans totaled Ps.949 million in the quarter, with Ps.844 million in improvements to concessioned assets.
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Sustainability Target Achieved
OMA achieved an 88% reduction in Scope 1 and 2 greenhouse gas emissions per passenger by end-2025, surpassing the 58% target linked to its sustainability-linked bonds. The company also published its first IFRS S1/S2 sustainability report.
Analysis · OMAB · Energy & Transportation
OMA delivered a solid quarter, with net income rising 10.2% to Ps.1,478 million and Adjusted EBITDA up 6.2% to Ps.2,722 million, even as passenger traffic edged up only 0.4%. Revenue growth outpaced traffic, driven by a 9.8% jump in non-aeronautical revenues — commercial activities, freight logistics, and hotel services all contributed. The balance sheet remains manageable, with net debt at 1.3x LTM Adjusted EBITDA, and the company achieved its sustainability-linked bond target, reinforcing its ESG credentials. The results show OMA extracting more value per passenger even in a low-growth traffic environment, a positive signal for margin resilience.
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At the time of this filing, OMAB was trading at $108.27 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5B. The 52-week trading range was $95.69 to $134.99. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.