Grupo Aeroportuario del Centro Norte (OMAB) Q3 2026 earnings summary

Executive summary

• Q3 passenger traffic rose 1.3% YoY to 7.7 million; aeronautical and non-aeronautical revenue increased 8.3% to MXN 3,843 million.

• Adjusted EBITDA grew 8.7% to MXN 2,883 million, with a 75.0% margin; net income rose 2.9% to MXN 1,555 million.

• Total revenue increased 23.8% to MXN 4,863 million, including a 166.9% rise in construction revenue; construction revenue and costs offset with no gain or loss.

Financial highlights

• Aeronautical revenue rose 6.7% to MXN 2,853 million; non-aeronautical revenue increased 13.3% to MXN 990 million.

• Operating income rose 8.1% to MXN 2,597 million; operating margin was 53.4%, down from 61.2% YoY.

• Consolidated net income increased 2.9% to MXN 1,555 million; controlling-interest EPS was MXN 4.01 and EPADS was US$1.78.

• 9M total revenue rose 10.9% to MXN 13,146 million; Adjusted EBITDA increased 5.8% to MXN 8,027 million and net income rose 3.1% to MXN 4,271 million.

Outlook and guidance

• 2027 traffic is expected to grow at a low-single-digit rate, with recovery anticipated from midyear.

• Maximum-tariff compliance is expected to average 93% this year and 95% next year, reaching 100% in year three of the five-year plan.

• The January 1 tariff increase is expected to be slightly above 4% in nominal terms, subject to the required process.

• OMA Carga growth is expected in the high teens for the rest of 2026 and at a similar level next year.

• Monterrey’s full commercial area is expected to open in Q4 2027; the resulting ~15% increase in airport income per passenger in real terms is expected in 2028 results.