How did PAC's Q2 2024 earnings forecast compare to past surprises?

Grupo Aeroportuario del Pacífico (PAC) reported earnings per share (EPS) of $2.69 for Q2 2024, which was above the analyst estimate of $2.66. However, the company reported revenue of $421.47 million, which was 3.39% below the analyst estimate of $436.27 million.

1. **PAC's Q2 2024 Earnings Surprise**:
- The reported EPS of $2.69 exceeded expectations, indicating a positive earnings surprise.
- The revenue miss, with actual revenue at $421.47 million compared to the estimated $436.27 million, suggests a negative surprise in terms of revenue.

|code|Ticker|Name|Date|Revenue Surprise|market_code|
|---|---|---|---|---|---|
|PAC|PAC.N|Pacific Airport|2022 Q4|7.7782E7|169|
|PAC|PAC.N|Pacific Airport|2023 Q1|7.221E7|169|
|PAC|PAC.N|Pacific Airport|2023 Q3|-2.1369E7|169|

2. **Comparison to Past Surprises**:
- PAC has experienced a mixed trend in earnings surprises, with this quarter showing an earnings beat and a revenue miss.
- The average drift between earnings announcements for PAC is 5.6%, indicating that there is typically some movement in the stock price following earnings announcements.
3. **Analyst Expectations**:
- Analysts had forecasted an EPS of $3.03 for the quarter, which was slightly higher than the actual EPS of $2.69. This could suggest that the market had already priced in some of the earnings expectations, leading to a less positive reaction to the earnings beat.
- The consensus target price of $175.00 suggests that analysts are cautious about the stock's future performance, potentially reflecting the revenue miss and other market factors.

In conclusion, PAC's Q2 2024 earnings report reflects a mixed performance compared to expectations, with an earnings beat and a revenue miss. While the company exceeded expectations in terms of EPS, the revenue shortfall could impact investor sentiment and the stock's performance.