Central North Airport Group (BMV: OMA, NASDAQ: OMAB), a leading operator of 13 international airports in central and northern Mexico, has stated that it is unaware of any significant event that would require disclosure about the unusual trading volume of its shares on the Mexican Stock Exchange (BMV). The company clarified on Tuesday that the day's trading volume was due to market conditions.
In a recent filing with the U.S. Securities and Exchange Commission, the company disclosed that neither members of its board of directors nor key executives participated in the trading movements, and the company's repurchase fund was not active during this period. Central North Airport Group reassured investors that it remains committed to informing the market of any relevant events on time.
Central North Airport Group, also known as OMA, manages a portfolio that includes airports in Monterrey, Acapulco, Mazatlán, and Zihuatanejo, as well as regional centers and border cities. Additionally, OMA operates the NH Collection Hotel at Mexico City Airport's Terminal 2 and the Hilton Garden Inn at Monterrey Airport, employing over 1,100 people to provide top-notch airport and commercial services.
The information provided in this article is based on a press release statement.
In other recent news, Grupo Aeroportuario del Centro Norte, known as OMA, reported a mixed performance in its second-quarter earnings for 2024. The company experienced a 2.4% decrease in total passenger traffic, largely due to a 4.3% decline in domestic traffic, attributed to the Pratt & Whitney engine recall.
However, international traffic increased by 12% and non-aeronautical revenues grew by 13.8%. OMA also reported an adjusted EBITDA of MXN 2.2 billion and a cash position of MXN 1.6 billion.
In July 2024, OMA announced a 4.2% decrease in passenger traffic across its 13 airports. The decrease in passenger numbers is partly attributed to the impact of Hurricane Otis on Acapulco Airport. However, the company also announced the commencement of four new routes during the month, which could potentially contribute to future traffic growth.
In addition to the financial results, OMA has also been focusing on its environmental and sustainability goals. The company recently published its 2023 Sustainability Report and third Green Bond Report. These reports highlight the company's progress in various activities and initiatives, including the allocation of proceeds and the environmental impact of projects funded by the Green Bond issued in 2021.
These are among the recent developments at OMA.
InvestingPro Insights
As investors consider the recent trading activity of Central North Airport Group (OMAB), it's valuable to look at the company's financial health and market performance through key metrics. With a market capitalization of $2.98 billion, OMA is trading at an earnings multiple of 11.51, suggesting a valuation that may be attractive to investors seeking companies with lower price-to-earnings ratios. Additionally, the company's gross profit margin stands at an impressive 67.95% for the last twelve months as of Q2 2024, highlighting its ability to retain a significant portion of revenue after accounting for the cost of goods sold.
OMA's commitment to returning value to shareholders is evident in its dividend yield, which is currently 11.32%. This is particularly noteworthy for income-focused investors. Moreover, the company's status as a prominent player in the Transportation Infrastructure industry is reinforced by its profitability over the last twelve months and a high return over the last decade, as noted in InvestingPro Tips. For those interested in a deeper analysis, InvestingPro offers additional insights, including 10 more tips for potential investors, which can be accessed on the OMA page on InvestingPro.
Understanding these financial metrics and considering the InvestingPro Tips can provide investors with a more nuanced view of Central North Airport Group's position in the market. As always, investors are encouraged to consider these insights in the context of their individual investment strategy and objectives.
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