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Copa Holdings: 3Q Earnings Snapshot

·1 min read

PANAMA CITY (AP) _ Copa Holdings SA (CPA) on Wednesday reported a third-quarter loss of $118.1 million, after reporting a profit in the same period a year earlier.

The Panama City-based company said it had a loss of $2.78 per share. Losses, adjusted for non-recurring gains, were $2.86 per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $2.79 per share.

The holding company for Panama's national airline posted revenue of $32.4 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $39 million.

Copa Holdings shares have decreased 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $73.47, a decline of 32% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPA at https://www.zacks.com/ap/CPA