Grupo Aeroportuario Del Pacifico (PAC-NYSE, $85.06) Reports Record 2016 Fiscal Results.

Pacific Airport Group reported a 31.7% adjusted increase in EBITDA for 2016. Revenues grew by 32.3% for the 2016 fiscal year. Net income grew by 16.7%

Like Southwest Airports Group (ASUR), PAC benefitted from a declining Mexican Peso against the US dollar and most other foreign currencies. Expenses are largely denominated in pesos whereas significant revenues are reported in US dollars or other foreign currencies. This tailwind, should it persist, sets the airport up for a strong 2017.

The major tailwind is, of course, the possibility of punitive actions that could be taken by the US government to reduce the trade deficit with Mexico and to force Mexico to pay for the border wall. A trade-war, cross border charges for travel and currency transfer taxes, all of which are within the ability of President Trump to declare, could prove to be disastrous for the economy of Mexico.

https://www.sec.gov/Archives/edgar/data/1347557/000090342317000144/pag6k_0223.htm