​Corporación América Airports (CAAP) Among the Best Airport Stocks to Buy Now

​Corporación América Airports S.A. (NYSE:CAAP) is one of the Best Airport Stocks to Buy According to Hedge Funds. On May 13, Corporación América Airports S.A. (NYSE:CAAP) delivered strong first-quarter results driven by broad-based growth across traffic, revenue, and profitability metrics.

​During the quarter, the company reported 7% year-over-year passenger traffic growth to 21.8 million. This was led by a 14% increase in international passengers. Moreover, the cargo volumes also improved 1.7% to 95.2 thousand tons, and aircraft movements increased 3.5% to 213,500.

​As a result, the consolidated revenue rose 18.8% to $495.2 million, with both Commercial and Aeronautical revenues growing at 21.0% and 17.4%, respectively. Notably, revenue growth comfortably outpaced passenger traffic growth. Management noted that excluding the effect of Argentina’s hyperinflation accounting rule, revenues still grew 15.5% to $477.9 million.

​The profitability also improved as operating income rose to $139.5 million from $104.0 million a year ago, and adjusted EBITDA climbed 26.1% to $196.2 million, with the margin expanding 2.3% to 39.6%.

Corporación América Airports S.A. (NYSE:CAAP) is a firm that works in the acquisition, development, and administration of airport concessionaires. It operates in the following geographical segments: Argentina, Italy, Brazil, Uruguay, Ecuador, and Armenia.

READ NEXT: 10 Best Stocks to Buy While the Market Is Down and 14 Stocks That Will Double in the Next 5 Years. 

Disclosure: None. Follow Insider Monkey on Google News.