交通运输行业2Q前瞻:客运盈利改善 货运分化

华泰证券股份有...
07 Jul

航空/机场/集运/港口/客运铁路盈利有望同增交运2Q25 业绩预计分化,航空/机场/集运/港口/客运铁路盈利同增,其余板块盈利偏弱。客运需求改善,盈利向好:1)航空供需格局改善兑现,叠加客座率和油汇向好,预计盈利明显改善;2)去年同期低基数下,机场盈利预计同增;3)旅游需求强劲,带动客运铁路盈利同增。货运需求与盈利均分化:1)关税扰动下,抢出口推动集运、港口盈利同环比增长;2)货运铁路需求较弱,但...

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