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Key Takeaways Copa Holdings' June RPM rose 13.3% year over year as passenger demand remained strong.CPA increased available seat miles 16.4% year over year to match rising travel demand.Copa Holdings' load factor fell to 85.2% from 87.5% as capacity growth outpaced traffic. Copa Holdings, S.A.(CPA - Free Report) , based in Panama City, Panama, is gaining from upbeat passenger volumes. The latest positive update from the Latin American carrier came when it reported robust traffic numbers for June 2026 on the back of upbeat air travel demand. Driven by high passenger volumes, revenue passenger miles (RPM: a measure of air traffic) improved on a year-over-year basis in June.

To match the demand swell, CPA is increasing its capacity. In June, available seat miles (a measure of capacity) increased 16.4% year over year. RPM also improved 13.3% year over year. Although traffic improved year over year, it has failed to outpace capacity expansion. As a result, the load factor (the percentage of seats filled by passengers) fell to 85.2% from 87.5% in June 2025.

CPA’s Zacks Rank & Price PerformanceCPA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Copa Holdings have gained 22.2% so far this year, outperforming the 3.1% increase of the Zacks Airline industry.

CPA Stock’s YTD Price Comparison Image Source: Zacks Investment Research

June 2026 Traffic of Other Airline CompaniesApart from LATAM Airlines, other airline companies that have reported traffic numbers for June 2026 are LATAM Airlines Group (LTM - Free Report) , Controladora Vuela Compania de Aviacion (VLRS - Free Report) and Ryanair Holdings (RYAAY - Free Report) .

LATAM AirlinesLATAM Airlines reported a 7.5% year-over-year increase in consolidated capacity, measured in available seat-kilometers (ASK). The uptick was driven by a 9.1% increase in international operations, coupled with a 5.8% capacity expansion in LATAM Airlines Brazil’s domestic market and a 5.3% increase in domestic operations of LATAM Airlines’ affiliates in Chile, Colombia, Ecuador and Peru. During the month, LATAM Airlines Brazil initiated operations on the Sao Paulo (GRU), Brazil – Brussels, Belgium route, adding Brussels as the group’s tenth destination in Europe.

LTM’s consolidated traffic, measured in revenue passenger-kilometers (RPK), grew 3.6% year over year, owing to a 5.3% increase in international operations.

Although traffic improved on a year-over-year basis, it failed to outpace capacity expansion. As a result, the load factor fell 3 percentage points to 80.8% in June 2026.

In June 2026, LATAM Airlines transported 6.95 million passengers, a mere decrease of 0.4% year over year. So far this year, LATAM Airlines has transported 43.97 million passengers across its network, reflecting an increase of 5.8% year over year.

VolarisMexican carrier, Volaris, recently reported a year-over-year increase in revenue passenger miles (RPMs), a measure of air traffic, for June. VLRS reported a 8.7% year-over-year increase in consolidated capacity (measured in available seat miles).Consolidated traffic, measured in revenue passenger-miles (RPM), grew 8.4% year over year. Although traffic has improved year over year, it has failed to outpace capacity expansion. As a result, the load factordecreased 0.3 percentage points year over year to 83.6%.

On the domestic front, RPMs increased 2.4%, and ASMs (Available Seat Miles) increased 4.8%, from the June 2025 levels. The domestic load factor in June was 87.2%, a decline of 2.0 percentage points from the year-ago levels.

Internationally, RPM increased 18.4% year over year, while ASM rose 14.4% year over year. Since traffic growth outpaced capacity expansion, the international load factor increased 2.7 percentage points on a year-over-year basis to 78.8%.

During the month of June 2026, VLRS transported 2.68 million passengers, representing a 11.2% year-over-year increase.

Ryanair HoldingsEuropean carrier Ryanair reported solid traffic numbers for June 2026, driven by upbeat air-travel demand. The number of passengers transported on Ryanair flights was 21.2 million in June 2026, reflecting a 7% year-over-year increase. Apart from a year-over-year surge, RYAAY’s traffic in June was much more than the May reading of 20.7 million, the April reading of 19.3 million, the March reading of 15.8 million, the February reading of 13.3 million and the January reading of 12.7 million, highlighting continued momentum from the beginning of the year.

Ryanair’s load factor remained flat year over year as well as sequentially at 95% in June 2026, reflecting stable and consistent demand for the carrier’s services. It also improved from the load factor of 93% reported in both the months of April and March 2026, 92% reported in February 2026 and 91% reported in January 2026.

RYAAY operated more than 1,16,800 flights in June 2026. This marks an improvement from 1,14,000 flights operated in May 2026, 1,08,000 flights operated in April 2026, 88,000 flights operated in March 2026, 75,000 flights operated in February 2026 and 73,000 flights operated in January2026, reflecting expanded capacity to meet strong passenger demand.

On July 13, 2026, Copa Holdings SA (CPA) shares fell 4.3% today, bringing the current price to $144.05. Over the past week, the stock has decreased by 6.9%, whi

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Stock to Watch: Copa Holdings (CPA - Free Report) Copa Holdings is based in Panama City, Panama. The company, through its main subsidiaries — Copa Airlines and Copa Colombia — offers airline passenger and cargo services. Copa Airlines was founded in 1947. Copa Columbia was purchased in 2005.

CPA is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. CPA has a Growth Style Score of A, forecasting year-over-year earnings growth of 1.6% for the current fiscal year.

For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $2.33 to $16.54 per share. CPA boasts an average earnings surprise of +6.5%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CPA should be on investors' short list.

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Stock to Watch: Copa Holdings (CPA - Free Report) Copa Holdings is based in Panama City, Panama. The company, through its main subsidiaries — Copa Airlines and Copa Colombia — offers airline passenger and cargo services. Copa Airlines was founded in 1947. Copa Columbia was purchased in 2005.

CPA is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.03; value investors should take notice.

For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $2.33 to $16.54 per share. CPA boasts an average earnings surprise of +6.5%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CPA should be on investors' short list.

In the latest trading session, Copa Holdings (CPA - Free Report) closed at $155.53, marking a -1.06% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.18%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 2.07%.

Shares of the holding company for Panama's national airline have appreciated by 10.01% over the course of the past month, outperforming the Transportation sector's gain of 2.8%, and the S&P 500's loss of 2.9%.

The investment community will be closely monitoring the performance of Copa Holdings in its forthcoming earnings report. The company is expected to report EPS of $1.9, down 47.37% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.07 billion, reflecting a 27.12% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.96 per share and a revenue of $4.38 billion, signifying shifts of -1.97% and +21.16%, respectively, from the last year.

Any recent changes to analyst estimates for Copa Holdings should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.43% higher within the past month. Copa Holdings is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Copa Holdings's current valuation metrics, including its Forward P/E ratio of 9.85. For comparison, its industry has an average Forward P/E of 11.9, which means Copa Holdings is trading at a discount to the group.

Also, we should mention that CPA has a PEG ratio of 1.2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Airline industry had an average PEG ratio of 1.15 as trading concluded yesterday.

The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 208, positioning it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CPA in the coming trading sessions, be sure to utilize Zacks.com.

Copa Today

$158.32 +6.39 (+4.21%)

As of 10:36 AM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$104.33▼

$157.00Dividend Yield4.32%

P/E Ratio9.26

Price Target$168.91

Copa Holdings NYSE: CPA is an airline stock with structural advantages, placement, and capital returns that make it a nearly perfect investment. Its positioning is as a leading Latin American service provider, offering emerging-market exposure in the critical infrastructure and services play; its structural advantage is a hub-and-spoke footprint centered on The Hub of the Americas. The Hub of the Americas is the company’s headquarters at Tocumen International Airport, a centralized location that enables ultra-efficient operations across the system.

The setup enables the region's leading service record and the #2 record globally, with an average on-time rate of about 90% and completion rates trending in the 99% range. In addition to the hub-and-spoke setup, Tocumen boasts a centralized location for quick connections, connections further enhanced by terminal placement. Passengers don’t have to worry about customs or transit when transitioning from one flight to the next. In addition, the company operates a single-type fleet, further controlling costs by limiting maintenance hassles, training needs, and parts inventory.

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Copa Holdings Accelerates Growth in Q1 2026Copa Holdings had a strong Q1, with revenue growing by 17% to just over $1 billion, evidence of its strength. The top line exceeded MarketBeat’s reported consensus by a wide margin, accelerating from the prior quarter and year due to increases in capacity and demand. The bullish detail is that passenger traffic increased by 15% on a 14% increase in capacity, helping to drive margin strength, further compounded by improved revenue per mile.

Margin news is also strong. The company managed to widen its operating and net margins despite higher costs, particularly fuel costs. GAAP earnings grew at an accelerated 20.5% pace, exceeding the consensus estimate by 73 cents or nearly 1650 basis points (bps). Looking ahead, the company issued a cautious Q2 forecast, citing fuel cost headwinds, but remained positive for the year, forecasting 17% revenue growth.

Bullish Cash Flow and Capital Return Outlook Drive CPA Price ActionCopa Dividend PaymentsDividend Yield4.49%

Annual Dividend$6.84

Dividend Increase Track Record2 Years

Annualized 5-Year Dividend Growth51.76%

Dividend Payout Ratio39.88%

Recent Dividend PaymentJun. 15

CPA Dividend History

Copa Holdings' highly efficient business enables a healthy cash flow and capital returns, including dividends and share buybacks. Dividends are approximately 40% of earnings and reliable in 2026, yielding approximately 4.5% with shares trading near historically high levels.

Distribution increases are expected, given the revenue and growth outlook, and will likely continue at a robust, double-digit pace in the upcoming years. Share buybacks are less aggressive but provide value, reducing the count by an average of 0.3% over the trailing 12 months (TTM).

Institutional activity is mixed, with the balance bullish but relatively flat on a trailing 12-month basis as of mid-year. However, they provide solid support, owning about 70% of the shares, and the analysts are more bullish.

MarketBeat reveals increasing coverage, firming sentiment, and rising price targets, with a consensus Buy rating and a forecast for fresh all-time highs. Short interest does not appear to be an issue. It is slightly elevated at around 4% but not alarming, more likely linked to hedging activities than outright bearish behavior.

Copa Holdings Advances: Approaches Critical ThresholdCopa Holdings’ price action is bullish in Q2. The market is advancing and on track to test resistance at the existing all-time high. Bullish signals in the MACD and stochastic suggest the restest will come soon, potentially by year’s end, and new highs are possible. Setting new highs will be significant, as they will be the first fresh highs in over a decade, opening the door to a much larger movement.

In this scenario, the base case is worth the dollar value of the existing trading range, which runs from $120. A move to $280 is possible, assuming a fresh high is set. If not, CPS shares may remain range-bound indefinitely, but that is not expected, given the growth and capital return outlook.

Copa Holdings' business is supported by robust demand in a major emerging market region. Latin America is a leading growth pillar internationally, driven by industrialization and middle-class expansion, which are fueling demand for business and leisure travel. Consistent capital returns are expected over time. The biggest risk for Copa is geopolitical. Not only can conflicts outside the region impair travel demand, but internal issues could disrupt business. Numerous international agreements enable easy, free-flowing traffic among many of the nations served.

Copa Holdings’ balance sheet is not among its risks. The company maintains low leverage and ample cash, which equates to 40% of TTM revenue as of the end of Q1. The likely outcome is that Copa Holdings will continue to execute its strategy, investing in growth while returning capital to investors.

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PANAMA CITY, June 11, 2026 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for May 2026:

Copa Holdings (Consolidated) May
2026May
2025% ChangeASM (mm)(1) 3,087.22,655.216.3%RPM (mm)(2) 2,723.62,327.217.0%Load Factor(3) 88.2%87.6%0.6p.p.      Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown.Revenue passenger miles - represents the number of miles flown by revenue passengersLoad factor - represents the percentage of aircraft seating capacity that is utilized For May 2026, Copa Holdings' capacity (ASMs) increased by 16.3%, while system-wide passenger traffic (RPMs) increased by 17.0% compared to 2025. As a result, the system load factor for the month was 88.2%, 0.6 percentage points higher than in May 2025.

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central, and South America and the Caribbean. For more information, visit ir.copaair.com.

CPA-G

Investor Relations
[email protected]

A month has gone by since the last earnings report for Copa Holdings (CPA - Free Report) . Shares have added about 2.6% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Copa Holdings due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Copa Holdings, S.A. before we dive into how investors and analysts have reacted as of late.

Copa Holdings Q1 Earnings Top EstimatesCopa Holdings reported impressive first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.

Quarterly earnings of $5.16 outpaced the Zacks Consensus Estimate of $4.43 and improved 20.5% year over year. Revenues of $1.05 billion beat the Zacks Consensus Estimate of $1.03 billion and inched up 17% year over year, due to a 15.3% increase in onboard passengers.

Passenger revenues (which contributed 95.4% to the top line) grew 16.9% year over year to $1.00 billion. The upside was owing to a 15% increase in revenue passenger miles and 1.6% higher yields, reflecting strong regional demand.

Cargo and mail revenues of $29.76 million grew 15.8% year over year, owing to higher cargo volumes. Other operating revenues of $18.49 million improved 27.8% year over year, owing to an increase in ConnectMiles revenues from non-air partners.

Quarterly results reflect a solid and persistent demand environment across the region, constant discipline in lowering unit costs, a passenger???friendly product and its relentless focus on operational excellence.

CPA’s Other Financial Details

On a consolidated basis, Copa Holdings’ traffic (measured in revenue passenger miles) grew 15%, and capacity (measured in available seat miles) increased 14% from the year-ago quarter. Since traffic growth outpaced capacity expansion, the load factor (percentage of seats filled by passengers) increased 0.8 percentage points to 87.2% in the reported quarter.

Passenger revenue per available seat mile rose 2.6% year over year to 11.3 cents. Revenue per available seat mile (RASM) rose 2.7% year over year to 11.8 cents.

Cost per available seat mile excluding fuel (CASM ex-fuel) fell 1% year over year to 5.8 cents, reflecting CPA’s continued cost discipline, while CASM rose 1.6% year over year to 8.9 cents in the first quarter owing to higher fuel prices.

The average fuel price per gallon increased 7.5% year over year to $2.73. While the average fuel price increase for the reported quarter was moderate, higher prices in the second half of March led to a nearly $20 million year-over-year net impact on the company’s first-quarter results.

Operating expenses increased 15.8% year over year to $793.8 million in the first quarter, owing to capacity growth, higher maintenance-related costs and an increase in the average price of jet fuel. Expenses on wages, salaries, benefits and other employee expenses rose 17.1% year over year. Sales and distribution costs increased 9.1% year over year. Passenger servicing costs grew 12.4% from the year-ago quarter. Airport facilities and handling charges grew 20.6% year over year. Expenses on fuel rose 21.7% year over year.

CPA repurchased shares worth $45 million during the reported quarter, under the existing $200 million repurchase authorization.

Copa Holdings exited the first quarter with cash and cash equivalents of $374.22 million compared with $382.55 million at the prior-quarter end.

In the first quarter of 2026, CPA took delivery of two Boeing 737-MAX 8 aircraft and ended the quarter with a total fleet of 127 aircraft. During the second quarter of 2026 (so far), CPA took delivery of two additional Boeing 737 MAX 8 aircraft, increasing its total fleet to 129 aircraft.

CPA’s Outlook

For the second quarter of 2026, Copa Holdings anticipates an operating margin in the range of 8% to 12%, with capacity growth in ASMs of 16% year over year. These results are affected by a projected year-over-year increase in the all-in jet fuel price per gallon in the range of 80% to 90%, for which the company anticipates recovering almost 50% through higher revenues. This partial pass-through is a result of the already advanced booking levels.

For 2026, CPA’s management continues to expect consolidated capacity to be up 11%-13% year over year. The load factor for the current year is expected to be 87%. Non-fuel unit costs are anticipated to be 5.7 cents. CPA anticipates to recover a substantial portion of its increased fuel price expenses for the full year, reaching up to 100% by the end of the year.

Copa Holdings expects to end 2026 with 133 aircraft and 2027 with 144 aircraft.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.

VGM ScoresCurrently, Copa Holdings has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of A on the value side, putting it in the top quintile for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Copa Holdings has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerCopa Holdings is part of the Zacks Transportation - Airline industry. Over the past month, Allegiant Travel (ALGT - Free Report) , a stock from the same industry, has gained 7%. The company reported its results for the quarter ended March 2026 more than a month ago.

Allegiant Travel reported revenues of $732.43 million in the last reported quarter, representing a year-over-year change of +4.8%. EPS of $3.77 for the same period compares with $1.81 a year ago.

Allegiant Travel is expected to post a loss of $0.66 per share for the current quarter, representing a year-over-year change of -153.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -16.1%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Allegiant Travel. Also, the stock has a VGM Score of A.

Copa Holdings (CPA - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 13. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis holding company for Panama's national airline is expected to post quarterly earnings of $4.43 per share in its upcoming report, which represents a year-over-year change of +3.5%.

Revenues are expected to be $1.03 billion, up 15% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 47.82% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Copa Holdings?For Copa Holdings, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +6.17%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Copa Holdings will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Copa Holdings would post earnings of $4.44 per share when it actually produced earnings of $4.18, delivering a surprise of -5.86%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Copa Holdings appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Transportation - Airline industry, Surf Air Mobility Inc. (SRFM - Free Report) , is soon expected to post loss of $0.44 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +66.4%. This quarter's revenue is expected to be $25.27 million, up 7.5% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Surf Air Mobility Inc. has been revised 20.5% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Surf Air Mobility Inc. will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Key Takeaways CPA is expected to post 15% revenue growth in Q1, driven by stronger passenger demand. Copa Holdings beat earnings estimates in three of the past four quarters. CPA faces pressure from higher operating costs, supply-chain issues and geopolitical tensions. Copa Holdings (CPA - Free Report) is scheduled to report first-quarter 2026 results on May 13, after market close.

The Zacks Consensus Estimate for CPA’s first-quarter 2026 earnings per share has been revised downwards by 7.7% over the past 60 days to $4.43. The consensus mark for earnings implies a 3.5% increase from the year ago actuals. The Zacks Consensus Estimate for CPA’s first-quarter 2026 revenues is pegged at $1.03 billion, indicating 15% growth year over year.

CPA has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters (missing once in the remaining), with an average beat being 5.74%.

Let’s see how things have shaped up for CPA this earnings season.

Factors Likely to Have Influenced CPA’s Q1 PerformanceWe expect the CPA’stop line in the to-be-reported quarter to have been bolstered by an improvement in air-travel demand.

Passenger revenues, which account for the bulk of the top line, are likely to have increased in the to-be-reported quarter. The Zacks Consensus Estimate for passenger revenues is pegged at $987.3 million, up 15% from the first-quarter 2025 actuals. Meanwhile, the consensus mark for revenues from the cargo & mail segment and other operating revenues is pegged at $28.1 million and $16.4 million, indicating a year-over-year increase of 9.4% and 13.1%, respectively.

On the contrary, the company’s performance in the to-be-reported quarter is expected to have been significantly impacted by rising operating expenses. Ongoing geopolitical tensions in the Middle East and supply-chain disruptions are likely to have weighed on CPA’s bottom line.

What Our Model Says About CPAOur proven model predicts an earnings beat for Copa Holdings this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

CPA has an Earnings ESP of +6.17% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Highlights of CPA’s Q4 ResultsCopa Holdings reported fourth-quarter 2025 earnings per share of $4.18, which missed the Zacks Consensus Estimate of $4.44 but improved 4.7% year over year. Revenues of $962.9 million missed the Zacks Consensus Estimate of $967.6 million but inched up 9.7% year over year, driven by a 12.9% increase in onboard passengers.

Passenger revenues (which contributed 94.8% to the top line) grew 9.4% year over year to $913.62 million. The upside was driven by a 10.1% increase in revenue passenger miles (RPMs), partially offset by a 0.6% decrease in passenger yield.

Q1 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report)  reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis. Revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis. 

J.B. Hunt Transport Services (JBHT - Free Report) posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, reflecting a 2.8% surprise.

Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenues per load in select highway-related businesses.

Copa Holdings, S.A. (NYSE:CPA) will release earnings for its first quarter after the closing bell on Wednesday, May 13.

Analysts expect the Panama City, Panama-based company to report quarterly earnings of $4.42 per share, up from $4.28 per share in the year-ago period. The consensus estimate for Copa's quarterly revenue is $1.03 billion (it reported $899.18 million last year), according to Benzinga Pro.

On Tuesday, Copa Holdings posted 16.7% capacity and traffic growth in April.

Shares of Copa Holdings fell 0.9% to close at $115.96 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

Considering buying CPA stock? Here’s what analysts think:

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May 13, 2026 18:45 ET  | Source: Copa Holdings, S.A.

PANAMA CITY, May 13, 2026 (GLOBE NEWSWIRE) -- Copa Holdings1, S.A. (NYSE: CPA), today announced financial results for the first quarter of 2026 (1Q26), reflecting continued industry-leading profitability, disciplined execution, and the resilience of its business model amid a higher jet fuel price environment. Key highlights include:

Net profit of US$212.5 million or US$5.16 per share, a 20.5% year‑over‑year increase in earnings per share.Operating margin of 24.6% and net margin of 20.2%, increases of 0.8 and 0.5 percentage points, respectively, compared to 1Q25.Capacity, measured in available seat miles (ASMs), grew by 14.0% year over year, and passenger traffic in RPMs increased by 15.0%. As a result, load factor increased by 0.8 percentage points to 87.2%.Revenue per available seat mile (RASM) of 11.8 cents, an increase of 2.7% compared to 1Q25.Operating cost per available seat mile (CASM) increased 1.6% year over year to 8.9 cents, while CASM excluding fuel (Ex-fuel CASM) decreased 1.0% to 5.8 cents.The Company ended the quarter with approximately US$1.5 billion in cash, short-term and long-term investments, representing 40% of the last-twelve-months’ revenues.Adjusted Net Debt to EBITDA ratio ended 1Q26 at 0.7 times.The Company repurchased US$45 million worth of shares during the quarter under the Company’s current US$200 million repurchase authorization. This represents approximately 1% of total outstanding shares as of the end of the quarter.In 1Q26, the Company took delivery of 2 Boeing 737-MAX 8 aircraft to end the quarter with a total fleet of 127 aircraft.Copa Airlines had an on-time performance for the quarter of 91.6% and a flight completion factor of 99.7%, once again positioning itself among the very best in the industry. Subsequent events

On May 13, 2026, the Board of Directors of Copa Holdings ratified its second dividend payment for the year of US$1.71 per share, payable on June 15, 2026, to shareholders of record as of May 29, 2026.In April, at an event held in Panama, the Company publicly announced a Boeing 737 MAX aircraft order consisting of 40 firm orders and 20 purchase options. Deliveries are expected between 2030 and 2034, supporting long‑term capacity growth while preserving flexibility within the Company’s existing fleet plan.During the second quarter, the Company took delivery of two additional Boeing 737 MAX 8 aircraft, increasing its total fleet to 129 aircraft. ____________________
1 The terms “Copa Holdings” and the “Company” refer to the consolidated entity. The financial information presented in this release, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS). See the accompanying reconciliation of non-IFRS financial information to IFRS financial information included in the financial tables section of this earnings release. Unless otherwise stated, all comparisons with prior periods refer to the first quarter of 2025 (1Q25).

Full 1Q26 Earnings Release available for download at: 

ir.copaair.com/financial-information/quarterly-results

Conference Call and Webcast

The Company will hold its financial results conference call tomorrow at 11am ET (10am local). Details follow:

Date:May 14, 2026Time:11:00 AM US ET (10:00 AM Local Time)Join by phone:Click hereWebcast (listen-only):ir.copaair.com/events-and-presentations     About Copa Holdings

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central, and South America and the Caribbean. For more information, visit: copaair.com.

Investor Relations
[email protected]

Cautionary statement regarding forward-looking statements

This release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans, estimates, and expectations, and are not guarantees of future performance. They are based on management’s expectations that involve several business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement. The risks and uncertainties relating to the forward-looking statements in this release are among those disclosed in Copa Holdings’ filed disclosure documents and are, therefore, subject to change without prior notice.

CPA-G

      Copa Holdings, S. A. and Subsidiaries
Consolidated Operating and Financial Statistics       1Q261Q25% Change4Q25% ChangeRevenue Passengers Carried (000s)4,096 3,512 16.6%3,935 4.1%Revenue Passengers OnBoard (000s)6,007 5,208 15.3%5,834 3.0%RPMs (millions)7,755 6,743 15.0%7,359 5.4%ASMs (millions)8,892 7,801 14.0%8,513 4.5%Load Factor87.2%86.4%0.8 p.p86.4%0.8 p.pYield (US$ Cents)12.9 12.7 1.6%12.4 4.3%PRASM (US$ Cents)11.3 11.0 2.6%10.7 5.2%RASM (US$ Cents)11.8 11.5 2.7%11.3 4.6%CASM (US$ Cents)8.9 8.8 1.6%8.8 0.9%CASM Excl. Fuel (US$ Cents)5.8 5.8 (1.0)%5.9 (2.9)%Fuel Gallons Consumed (millions)102.7 91.0 12.9%98.6 4.1%Avg. Price Per Fuel Gallon (US$)2.73 2.54 7.5%2.50 9.2%Average Length of Haul (miles)1,893 1,920 (1.4)%1,870 1.2%Average Stage Length (miles)1,260 1,260 —%1,236 1.9%Departures43,033 37,829 13.8%41,942 2.6%Block Hours138,479 121,611 13.9%133,488 3.7%Average Aircraft Utilization (hours)12.2 12.1 1.3%11.9 3.1%            Copa Holdings, S. A. and Subsidiaries
Consolidated statement of profit or loss
(In US$ thousands)            Unaudited Unaudited %Unaudited %  1Q26 1Q25 Change4Q25 ChangeOperating Revenues         Passenger revenue 1,004,173  859,025  16.9%913,623  9.9%Cargo and mail revenue 29,760  25,694  15.8%32,036  (7.1%)Other operating revenue 18,490  14,462  27.8%17,228  7.3%Total Operating Revenue 1,052,423  899,181  17.0%962,888  9.3%          Operating Expenses         Fuel 282,462  232,160  21.7%249,177  13.4%Wages, salaries, benefits and other employees' expenses 137,670  117,517  17.1%137,906  (0.2%)Passenger servicing 28,135  25,024  12.4%27,523  2.2%Airport facilities and handling charges 79,184  65,657  20.6%68,996  14.8%Sales and distribution 54,812  50,261  9.1%55,604  (1.4%)Maintenance, materials and repairs 46,612  39,434  18.2%46,075  1.2%Depreciation and amortization 100,726  86,284  16.7%97,385  3.4%Flight operations 41,104  33,749  21.8%38,413  7.0%Other operating and administrative expenses 23,083  35,274  (34.6%)32,221  (28.4%)Total Operating Expense 793,787  685,360  15.8%753,300  5.4%          Operating Profit/(Loss) 258,636  213,822  21.0%209,588  23.4%Operating Margin 24.6% 23.8% 0.8 p.p21.8% 2.8 p.p          Non-operating Income (Expense):         Finance cost (25,837) (23,233) 11.2%(27,478) (6.0%)Finance income 16,083  15,792  1.8%16,545  (2.8%)Gain (loss) on foreign currency fluctuations 1,518  1,370  10.8%(6,021) nmNet change in fair value of derivatives (1,066) (2,434) (56.2%)178  nmOther non-operating income (expense) (2,279) 1,428  nm(857) 166.0%Total Non-Operating Income/(Expense) (11,581) (7,077) 63.6%(17,633) (34.3%)          Profit before taxes 247,054  206,744  19.5%191,955  28.7%          Income tax expense (34,588) (29,978) 15.4%(19,332) 78.9%          Net Profit/(Loss) 212,467  176,766  20.2%172,623  23.1%Net Margin 20.2% 19.7% 0.5 p.p17.9% 2.3 p.p          EPS         Basic Earnings Per Share (EPS) 5.16  4.28  20.5%4.18  23.3%          Shares used for calculation:         Shares for calculation of Basic EPS (000s) 41,183  41,292  -0.3%41,248  -0.2%                Copa Holdings, S. A. and Subsidiaries
Consolidated statement of financial position
(In US$ thousands)     March 2026 December 2025ASSETS(Unaudited) (Audited)Cash and cash equivalents374,223  382,554 Short-term investments959,457  955,604 Total cash, cash equivalents and short-term investments1,333,680  1,338,159 Accounts receivable, net204,725  194,425 Accounts receivable from related parties3,019  3,217 Expendable parts and supplies, net152,247  148,127 Prepaid expenses89,588  55,209 Prepaid income tax4,836  6,172 Other current assets29,291  32,769  483,706  439,919 TOTAL CURRENT ASSETS1,817,386  1,778,078 Long-term investments190,157  248,579 Long-term prepaid expenses5,991  5,434 Property and equipment, net4,461,063  4,120,055 Right of use assets279,918  296,761 Intangible, net104,477  104,071 Net defined benefit assets3,157  3,220 Deferred tax assets20,308  19,873 Other Non-Current Assets12,060  6,952 TOTAL NON-CURRENT ASSETS5,077,131  4,804,946 TOTAL ASSETS6,894,517  6,583,024 LIABILITIES   Loans and borrowings218,254  172,885 Current portion of lease liability66,901  66,132 Accounts payable210,249  164,320 Accounts payable to related parties1,409  1,333 Air traffic liability750,546  737,616 Frequent flyer deferred revenue160,478  155,584 Taxes Payable81,360  62,931 Accrued expenses payable39,970  66,016 Income tax payable27,122  11,929 Other Current Liabilities9,111  1,361 TOTAL CURRENT LIABILITIES1,565,401  1,440,107     Loans and borrowings long-term1,890,520  1,807,556 Lease Liability241,670  258,383 Deferred tax Liabilities72,940  59,217 Other long-term liabilities250,445  242,337 TOTAL NON-CURRENT LIABILITIES2,455,575  2,367,494 TOTAL LIABILITIES4,020,976  3,807,600 EQUITY   Class A - 34,257,137 issued and 29,861,335 outstanding23,316  23,290 Class B - 10,938,1257,466  7,466 Additional Paid-In Capital221,661  220,190 Treasury Stock(345,147) (300,143)Retained Earnings2,769,716  2,168,911 Net profit212,467  671,648 Other comprehensive loss(15,939) (15,939)TOTAL EQUITY2,873,541  2,775,423 TOTAL EQUITY LIABILITIES6,894,517  6,583,024          Copa Holdings, S. A. and Subsidiaries
Consolidated statement of cash flows
For the three months ended
(In US$ thousands)          2026   2025  (Unaudited) (Unaudited)Net cash flow from operating activities 359,710   205,477 Investing activities   Net Acquisition of Investments 54,498   (340,191)Net cash flow related to advance payments on aircraft purchase contracts (245,026)  (115,130)Acquisition of property and equipment (163,486)  (56,216)Proceeds from sale of property and equipment 85   — Acquisition of intangible assets (5,559)  (6,515)Cash flow used in investing activities (359,488)  (518,052)Financing activities   Proceeds from new borrowings 154,605   — Payments on loans and borrowings (31,543)  (51,863)Payment of lease liability (16,033)  (14,007)Share repurchase (45,004)  (3,555)Dividends paid (70,578)  (66,493)Cash flow used in financing activities (8,553)  (135,918)Net (decrease) in cash and cash equivalents (8,331)  (448,493)Cash and cash equivalents as of January 1 382,554   613,313 Cash and cash equivalents as ofMarch 31,$374,223  $164,820     Short-term investments 959,457   751,525 Long-term investments 190,157   425,821 Total cash and cash equivalents and investments as ofMarch 31,$1,523,837  $1,342,166          Copa Holdings, S. A. and Subsidiaries
Non-IFRS Financial Measures Reconciliation

This press release includes the following non-IFRS financial measures: Operating CASM Excluding Fuel and Adjusted Net Debt to EBITDA. This supplemental information is presented because we believe it is a useful indicator of our operating performance and for comparing our performance with other companies in the airline industry. These measures should not be considered in isolation and should be considered together with comparable IFRS measures, in particular operating profit and net profit. The following is a reconciliation of these non-IFRS financial measures to the comparable IFRS measures:

Reconciliation of Operating Costs per ASM   Excluding Fuel (CASM Excl. Fuel)1Q261Q254Q25    Operating Costs per ASM as Reported (in US$ Cents)8.98.88.8Aircraft Fuel Cost per ASM (in US$ Cents)3.23.02.9Operating Costs per ASM excluding fuel (in US$ Cents)5.85.85.9     Reconciliation of Adjusted Net Debt to EBITDA1Q26 1Q25 4Q25      Net Debt$893,509 $592,934 $718,218      LTM Operating Profit/(Loss) (in US$ thousands)$863,774 $750,788 $818,960LTM Depreciation and amortization (in US$ thousands)$379,579 $333,628 $365,137LTM EBITDA (in US$ thousands)$1,243,353 $1,084,417 $1,184,096      Adjusted Net Debt to EBITDA 0.7  0.5  0.6         

ir.copaair.com copaair.com

For the quarter ended March 2026, Copa Holdings (CPA - Free Report) reported revenue of $1.05 billion, up 17% over the same period last year. EPS came in at $5.16, compared to $4.28 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.03 billion, representing a surprise of +1.8%. The company delivered an EPS surprise of +16.57%, with the consensus EPS estimate being $4.43.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Copa Holdings performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Load Factor: 87.2% versus the five-analyst average estimate of 86.9%.PRASM (Passenger revenue per ASM): 11.3 cents versus 11.08 cents estimated by four analysts on average.Yield: 12.9 cents compared to the 12.77 cents average estimate based on four analysts.Avg. Price Per Fuel Gallon: $2.73 compared to the $2.77 average estimate based on four analysts.ASMs (Available seat miles): 8.89 billion versus 8.89 billion estimated by four analysts on average.CASM Excl. Fuel: 5.8 cents versus the four-analyst average estimate of 5.78 cents.CASM: 8.9 cents versus 8.98 cents estimated by four analysts on average.RPMs (Revenue passengers miles): 7.76 billion compared to the 7.71 billion average estimate based on four analysts.RASM: 11.8 cents versus the four-analyst average estimate of 11.6 cents.Fuel Gallons Consumed: 102.70 Mgal versus the three-analyst average estimate of 102.34 Mgal.Total Number of Aircraft: 127 versus 129 estimated by two analysts on average.Operating Revenues- Passenger revenue: $1 billion versus $987.37 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +16.9% change.View all Key Company Metrics for Copa Holdings here>>>

Shares of Copa Holdings have returned -4.1% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Key Takeaways CPA delivered Q1 2026 EPS of $5.16 and revenue of $1.05B, topping estimates and rising Y/Y.CPA guides Q2 margin 8%-12% with ASM 16% as jet fuel 80%-90%, 50% offset by revenue.For 2026, CPA expects capacity to grow 11-13% year over year and expects to end 2026 with 133 aircraft. Copa Holdings, S.A. (CPA - Free Report) reported impressive first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.

Quarterly earnings of $5.16 outpaced the Zacks Consensus Estimate of $4.43 and improved 20.5% year over year. Revenues of $1.05 billion beat the Zacks Consensus Estimate of $1.03 billion and inched up 17% year over year, due to a 15.3% increase in onboard passengers.

Passenger revenues (which contributed 95.4% to the top line) grew 16.9% year over year to $1.00 billion. The upside was owing to a 15% increase in revenue passenger miles and 1.6% higher yields. Cargo and mail revenues of $29.76 million grew 15.8% year over year, owing to higher cargo volumes. Other operating revenues of $18.49 million improved 27.8% year over year, owing to an increase in ConnectMiles revenues from non-air partners.

Quarterly results reflect a solid and persistent demand environment across the region, constant discipline in lowering unit costs, a passenger-friendly product and its relentless focus on operational excellence.

CPA’s Other Financial DetailsOn a consolidated basis, Copa Holdings’ traffic (measured in revenue passenger miles) grew 15%, and capacity (measured in available seat miles) increased 14% from the year-ago quarter. Since traffic growth outpaced capacity expansion, the load factor (percentage of seats filled by passengers) increased 0.8 percentage points to 87.2% in the reported quarter.

Passenger revenue per available seat mile rose 2.6% year over year to 11.3 cents. Revenue per available seat mile (RASM) rose 2.7% year over year to 11.8 cents.

Cost per available seat mile excluding fuel (CASM ex-fuel) fell 1% year over year to 5.8 cents, reflecting CPA’s continued cost discipline, while CASM rose 1.6% year over year to 8.9 cents in the first quarter owing to higher fuel prices.

The average fuel price per gallon increased 7.5% year over year to $2.73. While the average fuel price increase for the reported quarter was moderate, higher prices in the second half of March led to a nearly $20 million year-over-year net impact on the company’s first-quarter results.

Operating expenses increased 15.8% year over year to $793.8 million in the first quarter, owing to capacity growth, higher maintenance-related costs and an increase in the average price of jet fuel. Expenses on wages, salaries, benefits and other employee expenses rose 17.1% year over year. Sales and distribution costs increased 9.1% year over year. Passenger servicing costs grew 12.4% from the year-ago quarter. Airport facilities and handling charges grew 20.6% year over year. Expenses on fuel/fuel costs rose 21.7% year over year.

CPA repurchased shares worth $45 million during the reported quarter, under the existing $200 million repurchase authorization.

Copa Holdings exited the first quarter with cash and cash equivalents of $374.22 million compared with $382.55 million at the prior-quarter end.

In the first quarter of 2026, CPA took delivery of two Boeing 737-MAX 8 aircraft and ended the quarter with a total fleet of 127 aircraft. During the second quarter of 2026 (so far), CPA took delivery of two additional Boeing 737 MAX 8 aircraft, increasing its total fleet to 129 aircraft.

CPA’s OutlookFor the second quarter of 2026, Copa Holdings anticipates an operating margin in the range of 8% to 12%, with capacity growth in ASMs of 16% year over year. These results are affected by a projected year-over-year increase in the all-in jet fuel price per gallon in the range of 80% to 90%, for which the company anticipates recovering almost 50% through higher revenues. This partial pass-through is a result of the already advanced booking levels.

For 2026, CPA’s management continues to expect consolidated capacity to be up 11%-13% year over year. The load factor for the current year is expected to be 87%. Non-fuel unit costs are anticipated to be 5.7 cents. CPA anticipates to recover a substantial portion of its increased fuel price expenses for the full year, reaching up to 100% by the end of the year.

Copa Holdings expects to end 2026 with 133 aircraft and 2027 with 144 aircraft.

CPA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q1 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis due to high labor costs. Adjusted revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis. 

United Airlines Holdings, Inc. (UAL - Free Report) reported solid first-quarter 2026 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate as well as improved on a year-over-year basis.

UAL's first-quarter 2026 adjusted earnings per share (EPS) (excluding 95 cents from non-recurring items) of $1.19 surpassed the Zacks Consensus Estimate of $1.08 and increased 30.8% on a year-over-year basis. The reported figure lies within the guided range of $1.00-$1.50.

Operating revenues of $14.6 billion outpaced the Zacks Consensus Estimate of $14.3 billion and increased 10.5% year over year. Passenger revenues (which accounted for 90.1% of the top line) increased 11% year over year to $13.1 billion. UAL flights transported 42,486 passengers in the first quarter, up 4.1% year over year.

Cargo revenues fell 1.6% year over year to $422 million. Revenues from other sources rose 10.5% year over year to $1.02 billion.

J.B. Hunt Transport Services (JBHT - Free Report)  posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, a 2.8% surprise.

Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.

Top 5 Highest-Rated Dividend Stocks, According to MarketBeatCopa NYSE: CPA reported stronger first-quarter profit and margins as the Panama-based airline cited robust demand across its network, higher passenger yields and continued cost discipline, while warning that sharply higher jet fuel prices will weigh on second-quarter results.

Executive Chairman and CEO Pedro Heilbron said the company delivered “another quarter of strong financial and operational results,” supported by regional demand and operational execution. He credited Copa’s more than 9,000 employees for helping the airline maintain reliability and cost discipline in what he described as a “higher and volatile jet fuel price environment.”

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5 Highly Rated Dividends With 50% Upside According to AnalystsFor the first quarter, capacity increased 14% year over year, while passenger traffic rose 15%. Load factor improved 0.8 percentage points to 87.2%. Passenger yield increased 1.6%, and revenue per available seat mile, or RASM, rose 2.7% to 11.8 cents.

Unit costs, measured as cost per available seat mile, or CASM, increased 1.6% to 8.9 cents, driven by higher fuel prices. Excluding fuel, CASM declined 1% to 5.8 cents.

Profit rises as margins expand Airline Stocks Off the Beaten Path: 3 Key Picks for InvestorsCFO Peter Donkersloot said Copa reported record net profit of $212 million, or $5.16 per share, representing a 20.5% year-over-year increase in earnings per share. Net margin was 20.2%, up 0.5 percentage points from the prior-year period.

Operating profit was $258 million, producing an operating margin of 24.6%, up 0.8 percentage points from the first quarter of 2025. Heilbron called the margin “industry-leading.”

Donkersloot said the airline’s all-in jet fuel price increased 7.5% year over year to $2.73 per gallon from $2.54. He said higher prices in the second half of March had a more pronounced impact on results, representing about a $20 million year-over-year effect on first-quarter performance.

Copa ended the quarter with about $1.5 billion in cash, short-term and long-term investments, equal to 40% of last-12-month revenue. Donkersloot said that figure excludes about $700 million in pre-delivery deposits for new aircraft, as well as 45 unencumbered aircraft and 15 unencumbered spare engines with an estimated value of more than $1 billion.

Total debt, including lease liabilities, stood at $2.4 billion. The company ended the quarter with an adjusted net debt-to-EBITDA ratio of 0.7 times. Donkersloot said Copa’s average cost of debt, which is made up solely of aircraft-related financing, remained “highly competitive” at 3.6%.

Fuel pressures weigh on second-quarter outlook Copa expects second-quarter operating margin of 8% to 12%, with capacity, measured in available seat miles, rising about 16% year over year. Donkersloot said the guidance reflects a projected year-over-year increase of 80% to 90% in the all-in jet fuel price per gallon.

The company expects to recover about 50% of that increase through higher revenue in the second quarter. Donkersloot said the partial pass-through reflects advanced booking levels already in place before fare increases.

For the full year, Copa continues to expect capacity growth of 11% to 13%, load factor of about 87% and CASM excluding fuel of about 5.7 cents. Based on the current fuel curve and assuming recent yield improvements are sustained, Donkersloot said Copa expects to recover a substantial portion of the increased fuel expense for the year, “reaching up to 100% by the end of the year.”

The company did not update its full-year operating margin or RASM expectations, saying it would review them as conditions stabilize and visibility for the second half improves.

Demand remains broad-based across regions During the analyst question-and-answer session, Heilbron said Copa is seeing strength across its network rather than in any single region.

“There’s always weakness somewhere, but right now, every region we serve is performing very well and is showing strength,” Heilbron said in response to a question from Raymond James analyst Savi Syth.

He also said stronger Latin American currencies are helping demand, noting that Copa prices tickets in U.S. dollars and tends to benefit when regional currencies strengthen. “Most of the important ones or the larger markets are up double digits” compared with a year ago, Heilbron said.

Asked by JPMorgan analyst Julia Orsi about sensitivity to higher fares, Heilbron pointed to April results, saying capacity and traffic both grew around 16% despite industrywide yield adjustments intended to offset fuel costs. He said that combination was “a good testament” to demand strength in the region.

Network expansion and fleet plans continue Copa resumed service to Valencia and Barquisimeto and plans to restart Barcelona in June. Together with existing service to Maracaibo and Caracas, the airline will serve five cities in Venezuela from its Hub of the Americas in Panama. Heilbron said the airline will operate to 87 destinations in 32 countries.

He said Copa is the only international airline that did not stop flying to Venezuela, except for a roughly 10-day window related to safety concerns during a military operation. By June, Copa expects to return to the same Venezuela capacity it had a little more than a year ago, with five cities and more than 40 weekly flights. Heilbron said Venezuela is not expected to have a significant impact on unit revenue or yields because it will be “in the average.”

On fleet, Heilbron said Copa took delivery of two Boeing 737 MAX 8 aircraft during the quarter. He also noted that in April the company announced a new Boeing 737 MAX order for 40 firm aircraft and 20 options, with deliveries scheduled between 2030 and 2034. The order follows the completion of Copa’s current order book in 2029 and is intended to support longer-term growth.

Heilbron said Copa maintains flexibility through options, slide rights, lease expirations and unencumbered aircraft, allowing it to adjust growth if needed. In response to Deutsche Bank analyst Michael Linenberg, he said Copa took delivery of 13 aircraft last year and expects seven or eight deliveries this year.

Donkersloot said cash capital expenditures for the year are expected to be about $300 million, mostly for maintenance. Including fleet capital expenditures, the total would be approximately $750 million to $800 million for the year.

Shareholder returns continue Copa’s board ratified the company’s second quarterly dividend for the year of $1.71 per share, payable June 15 to shareholders of record as of May 29. Donkersloot also said Copa repurchased $45 million of shares during the quarter, representing approximately 1% of total outstanding shares.

Heilbron closed the call by saying Copa has “the strongest network,” low unit costs for a full-service airline and a product he described as superior to most narrow-body competitors. He said the company is “in a really good position to deal with the current crisis and come out ahead as we’ve been able to do in the past.”

About Copa NYSE: CPACopa Holdings, SA NYSE: CPA is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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SoFiUSD Becomes the First Stablecoin Issued by a US National Bank to Launch on a Banking Platform SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, everything app for digital financial services, announced today that SoFiUSD, a bank-issued U.S. dollar stablecoin, is available for SoFi members to buy, sell, hold, and convert directly within the SoFi app.

This marks the first time that a U.S. national bank-issued stablecoin is available directly on a banking app. By expanding SoFiUSD to its nearly 15 million members, SoFi is building the bridge between traditional banking and digital assets. By integrating blockchain technology within its banking ecosystem, SoFi is helping to make digital financial tools more accessible, practical, and trustworthy.

“At SoFi, we believe we can combine the speed and versatility of the blockchain with the trust of a bank to improve how money moves around the world,” said Anthony Noto, CEO of SoFi. “People no longer have to choose between blockchain technology and regulated banking products. With SoFiUSD, we’re giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest.”

A New Standard for Trust in Digital Assets

SoFiUSD is the first stablecoin issued by a U.S. national bank and offers:

1:1 Redemption: SoFiUSD is redeemable 1:1 for U.S. dollars from SoFi Bank. SoFi Bank maintains liquid assets to support all outstanding SoFiUSD. Bank-Grade Safeguards: Members benefit from the transparency of a regulated institution, including regular attestations that are performed by an independent Certified Public Accountant (CPA) licensed in the United States. Multi-Chain Flexibility: SoFiUSD is available on Ethereum and Solana – two of the largest networks for digital asset transactions – with additional networks being added. Today’s launch is the first phase of a broader roadmap to integrate stablecoin utility across the entire SoFi ecosystem. In the coming weeks, SoFi plans to rapidly add to their product offering by:

Building the ability for SoFi members to convert SoFiUSD into tokenized deposits, allowing members to earn interest and access FDIC insurance on the deposits. Separate deposit account terms will apply. Offering global mobility on the blockchain, by allowing SoFi members to move value across borders 24/7/365, with fewer delays and lower costs than typical legacy financial systems. Launching SoFiUSD on its first centralized exchange partner, Bullish, to provide seamless trading for institutional clients. This relationship further supports stable pricing and efficient execution for high-volume trades. SoFiUSD is built to help bridge the gap between the flexibility of a stablecoin and the stability of a bank. It is supported by deep institutional liquidity and efficient execution, helping promote stable pricing and reliable high-volume trading for all members. Members can access SoFiUSD starting today, with full availability expected by early June as users update to the latest version of the SoFi app. Learn more about SoFiUSD here.

About SoFi

SoFi Technologies (NASDAQ: SOFI) is the everything app for digital financial services on a mission to help people achieve financial independence to realize their ambitions. 14.7 million members trust SoFi to borrow, save, spend, invest, and protect their money and buy, sell and hold their crypto – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi’s technology platform Galileo to build and manage innovative financial solutions across 133 million global accounts. For more information, visit www.sofi.com or download our iOS and Android apps.

Disclosures:

CRYPTOCURRENCY AND OTHER DIGITAL ASSETS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

SOFID is a payment stablecoin issued by SoFi Bank, N.A., regulated by the OCC. SOFID is designed to maintain a stable value relative to the U.S. dollar. SOFID is not a deposit, is not insured by the FDIC or SIPC, is not bank guaranteed, is not legal tender, and may lose value. Blockchain transactions are generally irreversible and may be subject to delays, disruptions, or permanent loss. Terms, conditions, and restrictions apply. See the SOFID Terms of Use and SOFID Risk Disclosure before transacting and more details.

Availability of Other Information About SoFi

Investors and others should note that we communicate with our investors and the public using our website (https://www.sofi.com), the investor relations website (https://investors.sofi.com), and on social media (X and LinkedIn), including but not limited to investor presentations and investor fact sheets, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that SoFi posts on these channels and websites could be deemed to be material information. As a result, SoFi encourages investors, the media, and others interested in SoFi to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on SoFi’s investor relations website and may include additional social media channels. The contents of SoFi’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Cautionary Statement Regarding Forward-Looking Statements

Certain of the statements above are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding expectations for the expansion of the SoFiUSD product offering and other related future products, SoFi’s ability to convert SoFiUSD into tokenized deposits and the ability of tokenized deposits to earn interest and access FDIC insurance, expectations regarding SoFi’s partnership with Bullish and its effect on stable pricing and trade execution, SoFi’s ability to navigate the regulatory environment related to the products it launches, demand for SoFi products, expectations regarding the future of financial services and the adoption of stablecoin to power financial infrastructure, and the financial position, business strategy and plans and objectives of management for SoFi’s future operations. These forward-looking statements are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as “expect”, “could”, “continue”, “future”, “may”, “plan”, “will”, “will be”, “will continue”, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: (i) the impact on each of SoFi’s and their partners’ business as a result of the regulatory environment, changes in governmental policies, changes in personnel and resources of the governmental agencies that regulate us, and complexities with compliance related to such environment; (ii) SoFi’s and their partners’ ability to continue to drive brand awareness and realize the benefits of their respective marketing and advertising campaigns; (iii) SoFi’s ability to manage planned products effectively and expectations regarding the development and expansion of its business; (iv) SoFi’s ability to predict the demand for new products and the future of the financial services industry; (v) SoFi’s ability to develop new products, features and functionality that are competitive and meet market needs; (vi) SoFi’s ability to maintain the security and reliability of their respective products; and (vii) the outcome of any legal or governmental proceedings instituted against SoFi. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties set forth in the section titled “Risk Factors” in SoFi’s last annual report on Form 10-K as filed with the Securities and Exchange Commission, and those that are included in any future filings with the Securities and Exchange Commission. These forward-looking statements are based on information available as of the date hereof and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing SoFi’s views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

©2026 SoFi Technologies, Inc. All rights reserved.

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A model aircraft is displayed during a ceremony where Copa Airlines signed a $13.5 billion deal with Boeing and GE Aerospace to buy up to ‌60 Boeing 737 Max aircraft over the next eight years,... Purchase Licensing Rights, opens new tab Read more

CompaniesRIO DE JANEIRO, June 7 (Reuters) - Copa Airlines (CPA.N), opens new tab has no plans to hedge fuel despite the recent price ​shock linked to the war in Iran, CEO Pedro Heilbron told Reuters, ‌betting its strong balance sheet and pricing adjustments will help absorb the impact.

The Panamanian carrier has not used fuel hedges for more than a decade and does not intend to change ​course, he added in an interview on Saturday on the sidelines of ​a global gathering of airline executives in Rio de Janeiro.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

"We're just assuming ⁠the cost," Heilbron said. "Yields have been adjusted, but we're not covering 100%. It's ​a partial impact."

Airlines globally have been raising fares in response to higher fuel costs, though ​increases are constrained by competition and demand sensitivity. The industry is banking on fuel prices to gradually ease, the executive said.

Heilbron noted Copa's strong liquidity and conservative balance sheet provide flexibility to ​weather volatility. "That gives us room to maneuver and to also be resilient," he ​said.

Demand in Latin America has remained healthy, Heilbron said, supported by stronger currencies in key markets ‌such ⁠as Brazil.

Copa, which operates a hub model from Panama connecting destinations across the Americas and flies only Boeing (BA.N), opens new tab 737 aircraft, continues to grow in line with deliveries from the U.S. planemaker.

The carrier recently agreed to buy up to 60 737 MAX jets, ​which Heilbron said would ​enable both expansion ⁠and fleet renewal.

"There's high demand for new aircraft for both Boeing and Airbus (AIR.PA), opens new tab. So if one doesn't order early enough, then ​one is left without deliveries. So this new order is ​from 2030 ⁠to 2034," he said.

The order includes flexibility across MAX variants and options for the larger MAX 10, which has yet to be certified. Copa is reviewing its future fleet ⁠mix ​and has not made a final decision on ​the variant.

Boeing's performance has improved, with deliveries arriving on time or slightly ahead of schedule, the CEO said.

Reporting ​by Gabriel Araujo and Luciana Magalhães in Rio de Janeiro, editing by Manuela Andreoni

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Gabriel is a Sao Paulo, Brazil-based reporter covering Latin America's financial and breaking news from the region's largest economy. A graduate of the University of Sao Paulo, joined Reuters while in college as a Commodities & Energy intern and has been with the firm ever since. Previously covered sports - including soccer and Formula One - for Brazilian radios and websites.

On June 10, 2026, Copa Holdings SA CPA shares fell 5.1% to $128.51. This decline comes amid a 52-week trading range of $99.32 to $156.41, reflecting both volatility and potential investor concern.

GF Value™ verdict indicates that CPA is currently priced above its estimated fair value of $112.81, representing a 13.9% overvaluation.With a GF Score™ of 87/100, CPA is considered strong, suggesting it has the potential for long-term outperformance.Notable signals include a momentum rank of 8/10, indicating positive short-term price performance. Is CPA Overvalued or Undervalued? Currently, Copa Holdings SA CPA is trading at $128.51, which is above its GF Value™ estimate of $112.81. This positions the stock as overvalued by approximately 13.9%. The GF Valuation label classifies CPA as modestly overvalued, suggesting that the current price may not adequately reflect the company's intrinsic value. With the stock trading above its fair value, there is a possible risk of price correction, which could impact potential returns for investors.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Investors may want to consider the margin of safety when evaluating their position, as an overvalued stock carries the risk of price declines should market sentiments shift.

How Does CPA's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 7.5x 7.8x Forward P/E 8.1x N/A Currently, CPA's P/E (TTM) stands at 7.5x, which is 4% below its 5-year median P/E of 7.8x. The forward P/E of 8.1x indicates an expectation of slight earnings growth. This P/E analysis aligns with the GF Value™ verdict that suggests the stock is overvalued, as it is trading below its historical valuation metrics, potentially indicating that the current price does not justify the earnings yield offered by the stock.

What Does CPA's GF Score™ Tell Us? Metric Rating GF Score™ 87/100 Financial Strength 6/10 Profitability 8/10 Growth 8/10 Valuation 6/10 Momentum 8/10 The GF Score™ of 87/100 indicates a strong overall performance, particularly in profitability and growth, both rated at 8/10. However, the financial strength score of 6/10 and valuation score of 6/10 suggest areas for improvement. The strong momentum rank also reflects positive short-term price performance, which could indicate potential resilience in volatile markets.

What Are Insiders Doing with CPA Stock? In the last three months, there have been no insider transactions reported for Copa Holdings SA CPA . The absence of insider buying or selling can often indicate a lack of significant changes in management sentiment regarding the stock. This lack of activity may suggest that insiders are either confident in the company’s current valuation or are waiting for a more favorable market condition to act.

What This Means for Investors Based on the current assessment, Copa Holdings SA CPA is classified as overvalued according to the GF Value™ estimate. This suggests that potential investors should consider the risks associated with entering a position at this price level, especially given the 13.9% overvaluation relative to the intrinsic value.

For the complete analysis, visit the Copa Holdings SA CPA stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is CPA's GF Score™?

CPA's GF Score™ is 87/100, indicating a strong overall performance based on key factors that predict long-term returns.

Is CPA overvalued or undervalued?

CPA is currently overvalued, with the GF Value™ estimate suggesting a fair value of $112.81 compared to the current price of $128.51.

What is CPA's P/E ratio?

CPA has a P/E (TTM) ratio of 7.5x, which is slightly below its 5-year median P/E of 7.8x, indicating a modestly favorable earnings yield compared to historical levels.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].