Copa Holdings, S.A. (NYSE: CPA) has announced financial results for the second quarter of 2017 (2Q17), the company said.
Copa Holdings reported net income of USUSD 63.0 million for 2Q17 or earnings per share (EPS) of USUSD 1.49, compared to net income of USUSD 54.5 million or earnings per share of USUSD 1.29 in 2Q16.
Excluding special items, the company would have reported an adjusted net income of USUSD 62.8 million, or adjusted EPS of USUSD 1.48, compared to an adjusted net income of USUSD 21.5 million or adjusted EPS of USUSD 0.51 in 2Q16.
Special items for 2Q17 include a non-cash gain of USUSD 0.2 million associated with the mark-to-market of fuel hedge contracts. Special items for 2Q16 include a USUSD 7.6 million loss related to foreign currency fluctuations and a non-cash gain of USUSD 40.6 million associated with the mark-to-market of fuel hedge contracts.
Copa Holdings is a Latin American provider of passenger and cargo services. The company, through its operating subsidiaries, provides service to 75 destinations in 31 countries in North, Central and South America and the Caribbean with one of the youngest and most modern fleets in the industry, consisting of 101 aircraft: 80 Boeing 737NG aircraft and 21 EMBRAER-190s.