Port of Los Angeles — Financial Profile

Summary Article — See Detailed Profile

This article provides a brief summary of Port of Los Angeles finance. For financial analysis, bond structure, capital programs, and detailed credit analysis, see our detailed Port of Los Angeles profile.

Executive Summary

The Port of Los Angeles and Port of Long Beach together form the San Pedro Bay complex, which handled 19.9 million TEUs in 2023, the highest of any US port complex (AAPA, 2023). The Port operates as a revenue bond-financed enterprise, with financial metrics including a 6.2x debt service coverage ratio (FY2024 ACFR) backed by its position as the #1 U.S. container port by TEU volume (20+ consecutive years, AAPA 2003–2024) and large unrestricted reserves of approximately $1.2 billion (FY2024). This summary provides verified financial data for quick reference.

Credit Ratings (All Stable Outlook): S&P AA | Moody's Aa2 | Fitch AA — AA-/Aa2/AA ratings, matching or exceeding those of 90% of non-tax-supported U.S. seaports rated by major agencies (DWU database, as of 2024).

Key Financial Metrics (FY 2024):

• Debt Service Coverage Ratio: 6.2x, exceeding the 2.0x policy minimum (Harbor Department bond resolution, as of 2024)
• Unrestricted Reserves: approximately $1.2 billion
• Outstanding Debt (Senior Lien Fixed Rate): $297.6 million
• Operating Margin: 59% (net revenues as % of total revenues)
• Total Operating Revenue: $684.7 million

Strengths: #1 U.S. container port by TEU volume (20+ consecutive years, AAPA 2003–2024); liquidity of approximately $1.2 billion in unrestricted reserves (FY2024); low debt burden with outstanding senior lien fixed-rate debt of $297.6 million (FY2024); longstanding management tenure and AA rating by three agencies (Fitch/Moody's/S&P, 2024). Risks: Trans-Pacific trade concentration; trade policy/tariff exposure; labor cost escalation; competitive pressure from Long Beach and Pacific Northwest.

Detailed Analysis Available

This summary article covers the financial metrics for the Port of Los Angeles. For in-depth analysis including:

• Detailed entity overview and governance structure
• operational performance and cargo mix analysis
• Complete bond structure, debt profile, and rating methodology
• Capital program details and funding strategy
• Detailed competitive positioning and market analysis
• Full credit analysis with strengths, risks, and rating triggers
• Tariff policy exposure and trade risk factors

Please refer to our detailed Port of Los Angeles Financial Profile.

Related DWU AI Articles

• Port of Los Angeles (POLA) — Detailed Financial Profile — financial analysis with bond structure, capital programs, and credit metrics
• Port of Long Beach (POLB) — Financial Profile
• Port Revenue Bonds and Finance
• Container Port Economics
• Tariff Policy and Trade Wars — Port Revenue Impact

Disclaimer: This article is AI-generated and is not legal, financial, or investment advice. It is intended for informational purposes only. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions. DWU Consulting does not provide investment recommendations.

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