How Did The Grupo Aeroportuario del Pacifico (PAC) Stock Rise 5% After-Hours?

Grupo Aeroportuario del Pacifico S.A.B. de C.V. (NYSE: PAC) experienced a surge in its stock price on Friday. At the end of after-hours trading, the stock was up by 5.00% and was trading at a price of $189.49. The increase in stock price can be attributed to the company’s recent announcement of a significant rise in passenger traffic for the month of January 2023.

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What PAC has shared?

According to the preliminary terminal passenger traffic figures for January 2023, Grupo Aeroportuario del Pacifico (PAC) has overtaken that in January 2022. From 4.05 million passengers in January 2022 to 5.4 million passengers in January 2023, GAP’s Mexican airports carried 33.10 percent more passengers in January 2023 than they did in January 2022.

Comparing January 2022 with January 2023, Puerto Vallarta, Los Cabos, Guadalajara, and Tijuana saw passenger traffic increase by 46.5%, 39.2%, 31.7%, and 20.1%. Montego Bay and Kingston saw increases of 67.6% and 59.6%, respectively.

From 2.23 million domestic passengers in Jan 2022 to 2.86 million in Jan 2023, the total number of domestic passengers at those airports increased by 28.4%. By contrast, the total number of international passengers rose by 38.8% at PAC, from 1.82 million to 2.53 million.

A gender-equality index includes PAC

As part of the 2023 Bloomberg Gender-Equality Index (GEI), Grupo Aeroportuario is also joining 484 other global companies, including 12 Mexican companies, this month. Public companies that report gender-related data are measured using GEI, which is a modified market capitalization-weighted index.

A number of pillars comprise the index, including leadership and talent pipelines, pay equity, inclusive cultures, anti-sexual harassment policies, and external branding. To create the social survey that PAC submitted, Bloomberg collaborated with subject matter experts worldwide.

PAC issued 2023 guidance

Grupo Aeroportuario del Pacifico (PAC) provided its guidance for growth in 2023 with expectations of traffic increasing 6% to 8% and revenues increasing 12% to 14%. As for 2023, PAC anticipates an increase in EBITDA of 10% to 12% with a margin of about 70%.

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