GAP Reports Q3 2024 Results: Acquisition and Revenue Growth

In the third quarter of 2024, Grupo Aeroportuario del Pacífico (GAP) reported its financial results, highlighting the impact of its strategic initiatives and the acquisition of Guadalajara World Trade Center (GWTC). This article delves into the key drivers behind GAP's earnings changes, the impact of the GWTC acquisition, and the analysts' revised forecasts for the upcoming quarters.


GAP's earnings in Q3 2024 showed a significant increase compared to the same period last year. The company's net sales reached MXN 8,495 million, a 12% increase year-over-year. Earnings before tax (EBT) also grew by 11% to MXN 3,392 million. These positive results can be attributed to several key drivers:

1. Passenger traffic and aircraft movements: GAP experienced a 10% increase in passenger traffic and a 9% increase in aircraft movements compared to Q2 2024. This growth contributed to the overall revenue increase in Q3 2024.
2. Currency exchange rates: The favorable exchange rate between the Mexican peso and other major currencies positively impacted GAP's revenue performance during this period.
3. Acquisition of GWTC: The acquisition of 51.5% of GWTC's shares in June 2024 contributed to GAP's revenue growth in Q3 2024. The integration of GWTC's operations and synergies resulted in additional revenue streams for GAP.
4. Cost-cutting measures: GAP implemented cost-cutting measures and increased operational efficiency, which helped improve its revenue growth and profitability in Q3 2024.


Analysts have revised their forecasts for GAP's earnings in the upcoming quarters, reflecting the company's strategic initiatives and the positive impact of the GWTC acquisition. The revised forecasts indicate an expected increase in earnings per share (EPS) for the remainder of 2024 and into 2025. This positive outlook is a testament to GAP's successful execution of its strategic plans and the potential for future growth.

In conclusion, GAP's Q3 2024 results demonstrate the company's strong financial performance, driven by increased passenger traffic, favorable currency exchange rates, the successful integration of GWTC, and cost-cutting measures. The analysts' revised forecasts reflect the company's strategic initiatives and the potential for continued growth in the coming quarters. As GAP continues to execute its plans and adapt to the changing market landscape, investors can expect the company to maintain its competitive edge in the aerospace industry.