{"podcast":{"title":"Charged Alpha Stock Encyclopedia","slug":"charged-alpha-stock-encyclopedia-7819792","podcast_index_feed_id":7819792,"rss_url":"https://feed.podbean.com/chargedalpha/feed.xml","website_url":"https://chargedalpha.podbean.com","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/22241603/charged_alpha_logo_2048.png","author":"Colton Thomas","episode_count":1630,"summary":"Charged Alpha reviews earnings for each stock in the Russel 1000 every quarter. Each podcast gives thorough analysis, along with an in-depth profile in the beginning of the episode of the company, what they do, how they earn money and what to look for.","last_synced_at":"2026-09-04T06:17:14.359815+00:00","page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792"},"episode":{"title":"ASR Stock: Revenue ’Grew 10%’ — But This Cancún Airport Monopoly Just Hit a 52-Week Low","slug":"asr-stock-revenue-grew-10-but-this-canc-n-airport-monopoly-just-hit-a-52-week-low","published_at":"2026-07-25T09:52:41+00:00","page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/asr-stock-revenue-grew-10-but-this-canc-n-airport-monopoly-just-hit-a-52-week-low","show_page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792","url":"https://chargedalpha.podbean.com/e/asr-stock-revenue-grew-10-%e2%80%94-but-this-cancun-airport-monopoly-just-hit-a-52-week-low/","audio_url":"https://mcdn.podbean.com/mf/web/zce9npcbzprei45d/audio_h.mp3","summary":"Grupo Aeroportuario del Sureste (ASUR) (ASR) Q2 2026 — Grupo Aeroportuario del Sureste (ASUR, NYSE ADR 'ASR'), the Mexican monopoly that runs Cancún plus airports in Colombia and Puerto Rico, reported Q2 2026 with headline revenue up 9.9% to Ps.9.6B — but that's a mirage: strip out IFRIC-12 construction revenue (which nearly doubled) and revenue was flat (-0.3%) while EBITDA actually fell 8.7% and passenger traffic dropped 2.7% on Cancún softness. Majority net income still rose 7.1% (~$4.38/ADR). The ADR has fallen ~30% to a 52-week low near $268. Our call: BUY, 3/5. How does an airport report 10% revenue growth and still crater to a 52-week low? ASUR is a toll road for the sky — 50-year monopoly concessions over Cancún and eight more southeast-Mexico airports (to 2048), plus six in Colombia and San Juan, Puerto Rico. In Q2 2026 the reported 9.9% revenue jump was an accounting mirage: IFRIC-12 construction revenue nearly doubled with an exactly offsetting cost, so strip it out and revenue was flat, EBITDA fell 8.7%, and the reported margin sank from 58% to 48% (still a fat 62% ex-construction). The market's real fear is traffic: total passengers -2.7%, Mexico -5% as Cancún lost ~500k flyers to a fuel spike, Spirit Airlines' bankruptcy, record Sargassum, and a no-show World Cup bump — the CEO admitted 'the summer is lost' but expects a better winter. Underneath, Colombia grew 3.6%, the MDP tariff cycle keeps ratcheting inflation-linked pricing (new Cancún Terminal 1 opens Q4 2026), the balance sheet is still low at 0.9x net debt, and a potential ~Ps.30/share (~6%) dividend pays you to wait. The catch: a deteriorating passenger mix risks under-recovering the regulated tariff, leverage has risen from ~0x, and management is busy with M&A (a US commercial arm, a big pen…","meta_description":"Grupo Aeroportuario del Sureste (ASUR) (ASR) Q2 2026 — Grupo Aeroportuario del Sureste (ASUR, NYSE ADR 'ASR'), the Mexican monopoly that runs Cancún plus…","key_points":[],"chapters":[],"topics":[],"duration_seconds":804,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/charged-alpha-stock-encyclopedia-7819792/episodes/asr-stock-revenue-grew-10-but-this-canc-n-airport-monopoly-just-hit-a-52-week-low/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/asr-stock-revenue-grew-10-but-this-canc-n-airport-monopoly-just-hit-a-52-week-low.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}