Grupo Aeroportuario del Pacifico SAB de CV (NYSE:PAC)

Q4 2025 Grupo Aeroportuario del Pacifico SAB de CV Earnings Call Transcript

Feb 23, 2026 / 10:59 AM GMT

Release Date Price: $279.18 (-7.07%)

Transcript

Key Points

Positve

The integration of Cross-border Express (CBX) with Tijuana Airport provides Grupo Aeroportuario del Pacifico SAB de CV (PAC) with direct exposure to the California market, enhancing revenue diversification.
CBX generates strong free cash flows and is not subject to minimal investment commitments, contributing positively to PAC's financial profile.
The internalization of the technical assistance agreement is expected to yield substantial annual savings, approximately 5% of Mexican airport EBITDA.
The transaction simplifies PAC's ownership structure, enhancing alignment and governance transparency.
CBX's unregulated revenue streams and strategic location offer significant growth opportunities and potential for future development projects.

Negative

The transaction involves issuing approximately 90 million new Series B shares, which could dilute existing shareholders' equity.
There are risks associated with the US Presidential permit under which CBX operates, given the current geopolitical climate and cross-border policies.
The integration process may incur additional costs and require time to achieve the anticipated synergies and operational efficiencies.
The transaction increases PAC's debt by $74 million, which could impact its financial leverage and flexibility.
The success of the transaction is contingent on obtaining necessary regulatory approvals and shareholder votes, which introduces uncertainty.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GAPB.MX - Grupo Aeroportuario del Pacifico SAB de CV
Q4 2025 Grupo Aeroportuario del Pacifico SAB de CV Earnings Call
Feb 23, 2026 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good morning and thank you for joining us today. This is Alejandra Soto, CEO of the company.

Today we will be presenting the proposed integration of the Cross-border express and internalization of the Technical Assistment Agreement in Togrupoo Puerto del Pacific.

I am joined by Raul Rabuelta, Chief Executive Officer, and Saul Villarreal, Chief Financial Officer, who will walk us through the strategic, operational and financial details of this initiative.

Before we begin, I would like to remind everyone that today's presentation may include forward-looking statements regarding the proposed transactions, expected synergies, future performance, strategic initiatives,

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