Copa Holdings SA
NYSE:CPA
Income Statement
Earnings Waterfall
Copa Holdings SA
Revenue
|
3.5B
USD
|
Cost of Revenue
|
-1.4B
USD
|
Gross Profit
|
2.1B
USD
|
Operating Expenses
|
-1.3B
USD
|
Operating Income
|
811.8m
USD
|
Other Expenses
|
-293.6m
USD
|
Net Income
|
518.2m
USD
|
Income Statement
Copa Holdings SA
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
1 967
N/A
|
2 681
+36%
|
2 762
+3%
|
2 749
0%
|
2 705
-2%
|
2 623
-3%
|
2 488
-5%
|
2 372
-5%
|
2 254
-5%
|
2 175
-3%
|
2 131
-2%
|
2 152
+1%
|
2 219
+3%
|
2 280
+3%
|
2 359
+3%
|
2 450
+4%
|
2 522
+3%
|
2 622
+4%
|
2 682
+2%
|
2 696
+1%
|
2 678
-1%
|
2 635
-2%
|
2 646
+0%
|
2 682
+1%
|
2 707
+1%
|
2 631
-3%
|
2 000
-24%
|
1 324
-34%
|
801
-40%
|
391
-51%
|
681
+74%
|
1 094
+61%
|
1 510
+38%
|
1 896
+26%
|
2 285
+21%
|
2 649
+16%
|
2 965
+12%
|
3 261
+10%
|
3 377
+4%
|
3 435
+2%
|
3 461
+1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(841)
|
(1 138)
|
(1 173)
|
(1 187)
|
(1 187)
|
(1 146)
|
(1 094)
|
(1 035)
|
(870)
|
(940)
|
(908)
|
(915)
|
(817)
|
(979)
|
(999)
|
(1 015)
|
(875)
|
(987)
|
(1 052)
|
(1 061)
|
(1 063)
|
(1 091)
|
(1 043)
|
(1 023)
|
(1 006)
|
(967)
|
(722)
|
(479)
|
(303)
|
(192)
|
(299)
|
(463)
|
(556)
|
(724)
|
(980)
|
(1 169)
|
(1 349)
|
(1 445)
|
(1 373)
|
(1 348)
|
(1 350)
|
|
Gross Profit |
1 126
N/A
|
1 542
+37%
|
1 589
+3%
|
1 561
-2%
|
1 518
-3%
|
1 477
-3%
|
1 394
-6%
|
1 336
-4%
|
1 384
+4%
|
1 235
-11%
|
1 224
-1%
|
1 238
+1%
|
1 403
+13%
|
1 301
-7%
|
1 361
+5%
|
1 435
+5%
|
1 647
+15%
|
1 635
-1%
|
1 630
0%
|
1 635
+0%
|
1 615
-1%
|
1 544
-4%
|
1 603
+4%
|
1 658
+3%
|
1 702
+3%
|
1 664
-2%
|
1 279
-23%
|
846
-34%
|
498
-41%
|
200
-60%
|
382
+92%
|
631
+65%
|
954
+51%
|
1 172
+23%
|
1 305
+11%
|
1 480
+13%
|
1 616
+9%
|
1 816
+12%
|
2 003
+10%
|
2 086
+4%
|
2 111
+1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(751)
|
(990)
|
(1 004)
|
(1 012)
|
(997)
|
(1 006)
|
(1 005)
|
(1 008)
|
(1 116)
|
(1 002)
|
(1 006)
|
(994)
|
(1 132)
|
(1 003)
|
(1 018)
|
(1 048)
|
(1 208)
|
(1 165)
|
(1 182)
|
(1 230)
|
(1 267)
|
(1 414)
|
(1 448)
|
(1 449)
|
(1 266)
|
(1 332)
|
(1 111)
|
(918)
|
(716)
|
(836)
|
(652)
|
(735)
|
(807)
|
(898)
|
(997)
|
(1 088)
|
(1 165)
|
(1 217)
|
(1 252)
|
(1 274)
|
(1 299)
|
|
Selling, General & Administrative |
(571)
|
(764)
|
(774)
|
(780)
|
(794)
|
(800)
|
(795)
|
(784)
|
(876)
|
(760)
|
(760)
|
(757)
|
(877)
|
(744)
|
(755)
|
(777)
|
(817)
|
(836)
|
(852)
|
(860)
|
(866)
|
(867)
|
(865)
|
(868)
|
(866)
|
(846)
|
(677)
|
(510)
|
(384)
|
(278)
|
(337)
|
(416)
|
(480)
|
(562)
|
(645)
|
(716)
|
(772)
|
(811)
|
(834)
|
(847)
|
(863)
|
|
Depreciation & Amortization |
(113)
|
(141)
|
(141)
|
(143)
|
(115)
|
(119)
|
(125)
|
(132)
|
(135)
|
(138)
|
(139)
|
(139)
|
(162)
|
(165)
|
(171)
|
(177)
|
(278)
|
(307)
|
(309)
|
(339)
|
(277)
|
(303)
|
(330)
|
(332)
|
(282)
|
(280)
|
(328)
|
(318)
|
(259)
|
(253)
|
(194)
|
(186)
|
(240)
|
(244)
|
(250)
|
(263)
|
(268)
|
(277)
|
(287)
|
(296)
|
(306)
|
|
Other Operating Expenses |
(68)
|
(86)
|
(89)
|
(90)
|
(88)
|
(87)
|
(85)
|
(91)
|
(106)
|
(105)
|
(107)
|
(98)
|
(92)
|
(94)
|
(93)
|
(94)
|
(114)
|
(22)
|
(21)
|
(31)
|
(124)
|
(245)
|
(253)
|
(248)
|
(118)
|
(206)
|
(105)
|
(90)
|
(72)
|
(306)
|
(122)
|
(132)
|
(87)
|
(93)
|
(102)
|
(110)
|
(125)
|
(129)
|
(131)
|
(130)
|
(131)
|
|
Operating Income |
375
N/A
|
552
+47%
|
585
+6%
|
549
-6%
|
521
-5%
|
471
-10%
|
389
-17%
|
329
-16%
|
268
-18%
|
233
-13%
|
218
-6%
|
244
+12%
|
271
+11%
|
298
+10%
|
343
+15%
|
387
+13%
|
438
+13%
|
470
+7%
|
448
-5%
|
406
-10%
|
348
-14%
|
129
-63%
|
155
+20%
|
210
+36%
|
436
+108%
|
332
-24%
|
168
-50%
|
(72)
N/A
|
(218)
-201%
|
(637)
-192%
|
(270)
+58%
|
(104)
+61%
|
147
N/A
|
274
+87%
|
307
+12%
|
392
+28%
|
450
+15%
|
599
+33%
|
751
+25%
|
813
+8%
|
812
0%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(32)
|
(35)
|
(34)
|
(33)
|
(136)
|
(134)
|
(133)
|
(133)
|
(459)
|
(464)
|
(467)
|
(452)
|
101
|
104
|
102
|
89
|
(23)
|
(20)
|
(13)
|
(21)
|
(36)
|
(55)
|
(65)
|
(72)
|
(42)
|
(50)
|
(84)
|
(76)
|
(160)
|
(185)
|
(123)
|
(165)
|
(93)
|
(84)
|
(13)
|
18
|
(60)
|
(93)
|
(334)
|
(307)
|
(203)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(6)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(189)
|
0
|
0
|
0
|
(89)
|
0
|
(276)
|
(276)
|
(243)
|
0
|
0
|
0
|
5
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
17
|
17
|
32
|
(15)
|
13
|
15
|
36
|
34
|
(2)
|
38
|
45
|
80
|
(4)
|
(44)
|
(76)
|
(74)
|
(3)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(4)
|
(10)
|
(4)
|
(1)
|
(3)
|
(10)
|
(2)
|
(2)
|
(1)
|
(5)
|
(5)
|
(8)
|
(2)
|
(2)
|
4
|
8
|
5
|
7
|
|
Pre-Tax Income |
360
N/A
|
534
+48%
|
583
+9%
|
501
-14%
|
398
-21%
|
353
-11%
|
292
-17%
|
231
-21%
|
(192)
N/A
|
(193)
-1%
|
(204)
-6%
|
(128)
+37%
|
362
N/A
|
358
-1%
|
369
+3%
|
402
+9%
|
412
+3%
|
448
+9%
|
435
-3%
|
384
-12%
|
123
-68%
|
72
-41%
|
86
+19%
|
133
+55%
|
293
+120%
|
278
-5%
|
(193)
N/A
|
(427)
-122%
|
(631)
-48%
|
(824)
-31%
|
(396)
+52%
|
(271)
+32%
|
54
N/A
|
185
+241%
|
286
+54%
|
407
+42%
|
388
-5%
|
510
+31%
|
425
-17%
|
511
+20%
|
616
+20%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(46)
|
(69)
|
(75)
|
(53)
|
(37)
|
(29)
|
(23)
|
(21)
|
(33)
|
(29)
|
(28)
|
(37)
|
(38)
|
(38)
|
(45)
|
(46)
|
(49)
|
(50)
|
(45)
|
(42)
|
(35)
|
(31)
|
(44)
|
(45)
|
(46)
|
(47)
|
(12)
|
0
|
24
|
32
|
18
|
19
|
(11)
|
(11)
|
(16)
|
(29)
|
(40)
|
(60)
|
(82)
|
(96)
|
(97)
|
|
Income from Continuing Operations |
314
|
465
|
509
|
449
|
362
|
324
|
270
|
210
|
(225)
|
(223)
|
(232)
|
(164)
|
323
|
320
|
324
|
355
|
363
|
398
|
390
|
342
|
88
|
41
|
42
|
89
|
247
|
232
|
(205)
|
(427)
|
(607)
|
(792)
|
(378)
|
(252)
|
44
|
174
|
270
|
378
|
348
|
450
|
343
|
415
|
518
|
|
Net Income (Common) |
314
N/A
|
465
+48%
|
509
+9%
|
449
-12%
|
362
-19%
|
324
-11%
|
270
-17%
|
210
-22%
|
(225)
N/A
|
(223)
+1%
|
(232)
-4%
|
(164)
+29%
|
323
N/A
|
320
-1%
|
324
+1%
|
355
+10%
|
363
+2%
|
398
+10%
|
390
-2%
|
342
-12%
|
88
-74%
|
41
-53%
|
42
+2%
|
89
+110%
|
247
+179%
|
232
-6%
|
(205)
N/A
|
(427)
-108%
|
(607)
-42%
|
(792)
-30%
|
(378)
+52%
|
(252)
+33%
|
44
N/A
|
174
+298%
|
270
+55%
|
378
+40%
|
348
-8%
|
450
+29%
|
343
-24%
|
415
+21%
|
518
+25%
|
|
EPS (Diluted) |
7.07
N/A
|
10.48
+48%
|
11.46
+9%
|
10.11
-12%
|
8.15
-19%
|
7.33
-10%
|
6.11
-17%
|
4.76
-22%
|
-5.13
N/A
|
-5.28
-3%
|
-5.51
-4%
|
-3.87
+30%
|
7.63
N/A
|
7.53
-1%
|
7.64
+1%
|
8.38
+10%
|
8.55
+2%
|
9.38
+10%
|
9.18
-2%
|
8.06
-12%
|
2.08
-74%
|
0.98
-53%
|
1
+2%
|
2.09
+109%
|
5.81
+178%
|
5.46
-6%
|
-4.82
N/A
|
-10.05
-109%
|
-14.28
-42%
|
-18.59
-30%
|
-8.85
+52%
|
-5.92
+33%
|
1.03
N/A
|
4.14
+302%
|
6.56
+58%
|
9.54
+45%
|
8.58
-10%
|
11.35
+32%
|
8.71
-23%
|
10.43
+20%
|
12.89
+24%
|