Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE:PAC) Q2 2023 Earnings Call Transcript July 26, 2023 11:00 AM ET

Company Participants

Maria Barona - Investor Relations

Raul Revuelta - Chief Executive Officer

Saul Villarreal - Chief Financial Officer

Conference Call Participants

Guilherme Mendes - JPMorgan

Rodolfo Ramos - Bradesco BBI

Anton Mortenkotter - GBM

Pablo Monsivais - Barclays

Stephen Trent - Citi

Gabriel Himelfarb - Scotiabank

Alberto Valerio - UBS

Alan Macias - Bank of America

Fernando Ricotta - BTG

Operator

Good morning, and welcome to GAP's Conference Call. [Operator Instructions].

It's now my pleasure to turn the call over to GAP's Investor Relations team. Please go ahead.

Maria Barona

Thank you, and welcome to Grupo Aeroportuario del Pacifico Second Quarter 2023 Conference Call. Presenting from the Company today, we welcome Mr. Raul Revuelta, Chief Executive Officer; and Mr. Saul Villarreal, Chief Financial Officer.

Please be advised that forward-looking statements may be made during this conference call. These do not account for future economic circumstances, industry conditions, the company's future performance or financial results. As such, statements made are based on several assumptions and factors that could change. This could cause actual results to materially differ from the current expectations. For a complete note on forward-looking statements, please refer to the quarterly report that was issued by the company.

At this point I'd like to turn the call over to Mr. Raul Revuelta that for his opening remarks. Please begin, sir.

Raul Revuelta

Thank you, Maria. We appreciate everyone who joined our call today to review GAP's second quarter of 2023. During the period GAP transported nearly 16 million travelers throughout our network of 14 airports. This represents a 12% increase compared to 2022, which added to the first quarter put us above our original traffic grow guidance for the year. Edwards opened during the quarter for domestic and -- International -- led the weight with three new roads followed by Puerto Vallarta with two, while Lara Mexican and Montego with one inch. Well, Lara also were mentioning was half accelerated profit grow during the quarter with a 18% increase.

This was related to domestic market growth of 19%, mainly due to the new roots to Montego Bay and Puerto Vallarta, as well as higher low factors from bi roots symbolize international traffic benefited from an increase in frequencies in key U.S. markets such as New York and California, route to Los Angeles, San Jose, and Oakland.