Earnings summaries and quarterly performance for LATAM AIRLINES GROUP.
Research analysts who have asked questions during LATAM AIRLINES GROUP earnings calls.
Gabriel Rezende
Itau BBA
7 questions for LTM
Also covers: AZUL, ERJ, IOCJY
JS
Jens Spiess
Morgan Stanley
7 questions for LTM
Also covers: ASR, CPA, PAC +1 more
Guilherme Mendes
J.P. Morgan Chase & Co.
6 questions for LTM
Also covers: ASR, AZUL, CAAP +4 more
ML
Michael Linenberg
Deutsche Bank
6 questions for LTM
Also covers: AAL, ALGT, ALK +12 more
Pablo Monsivais
Barclays
3 questions for LTM
Also covers: ASR, PAC, VLRS +1 more
Stephen Trent
Citigroup Inc.
3 questions for LTM
Also covers: AAL, AER, AL +14 more
AF
Andre Ferreira
Bradesco BBI
2 questions for LTM
Also covers: AZUL, ERJ
ES
Ewald Stark
BICE
2 questions for LTM
Also covers: BSAC
FB
Felipe Ballevona
Santander
2 questions for LTM
FV
Felipe Vilanova
Santander
2 questions for LTM
FN
Filipe Nielsen
Citigroup Inc.
2 questions for LTM
Also covers: CPA
JO
Julia Orsi
JPMorgan Chase & Co.
2 questions for LTM
ML
Mike Lindenberg
Deutsche Bank
2 questions for LTM
Also covers: ALGT, DAL, JBLU +4 more
SS
Savi Syth
Raymond James
2 questions for LTM
Also covers: AAL, JBLU, JOBY +4 more
ES
Ewald Stark Bittencourt
BICE Investors
1 question for LTM
Also covers: BCH
João Francisco Frizo
Goldman Sachs
1 question for LTM
Also covers: ASR, AZUL
Recent press releases and 8-K filings for LTM.
LATAM Group Announces Strong Q4 and Full-Year 2025 Results with Positive 2026 Guidance
LTM
Earnings
Dividends
Guidance Update
- LATAM Group reported strong financial performance for Q4 2025 and full-year 2025, with total revenues reaching almost $4 billion in Q4 and net income totaling approximately $1.5 billion for the full year. The adjusted operating margin was 16.7% in Q4 and 16.2% for the full year.
- For the full year 2025, Adjusted EBITDA came in at almost $4.1 billion, growing over 30% year-over-year , and earnings per ADS were $4.95. The group transported over 87 million passengers and increased capacity by 8.2% while maintaining a healthy load factor of 84.4%.
- The company strengthened its balance sheet, ending 2025 with $3.7 billion in liquidity and an adjusted net leverage of 1.5 times, below the maximum policy level of 2 times. The weighted average cost of debt was reduced to 6.6% from 10.7% in 2023.
- LATAM returned capital to shareholders, distributing $400 million in interim dividends in Q4 and executing two share repurchase programs totaling $585 million during the year. Total dividends for the year were close to $605 million.
- Looking ahead to 2026, LATAM projects capacity growth between 8%-10% and an adjusted operating margin between 15%-17%. Adjusted leveraged free cash flows are expected to exceed $1.7 billion, and liquidity is expected to be above $5 billion by year-end.
3 days ago
LATAM Airlines Group Reports Strong Full-Year 2025 Results and Provides Positive 2026 Guidance
LTM
Earnings
Dividends
Share Buyback
Guidance Update
- LATAM Airlines Group reported strong financial performance for full-year 2025, with net income totaling approximately $1.5 billion and Adjusted EBITDA reaching almost $4.1 billion. The adjusted operating margin was 16.2%, marking a 3.5 percentage point increase year-over-year.
- For Q4 2025, the group achieved total revenues of almost $4 billion, an Adjusted EBITDA of $1.1 billion, and net income of $484 million, with an adjusted operating margin of 16.7%.
- The company generated $3.3 billion in adjusted operating cash flow in 2025, enabling the distribution of $605 million in total dividends and $585 million in share repurchases.
- LATAM ended 2025 with a strong balance sheet, reporting $3.7 billion in liquidity and an adjusted net leverage of 1.5 times, while also reducing its weighted average cost of debt to 6.6%.
- For 2026, the company projects capacity growth between 8%-10%, an adjusted operating margin between 15%-17%, and expects adjusted leveraged free cash flows to exceed $1.7 billion, with year-end liquidity above $5 billion.
3 days ago
LATAM Airlines Group Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Guidance
LTM
Earnings
Guidance Update
Dividends
- For the full year 2025, LATAM Airlines Group achieved an adjusted operating margin of 16.2%, Adjusted EBITDA of almost $4.1 billion, and net income totaling approximately $1.5 billion, resulting in earnings per ADS of $4.95. Net income increased by 50% versus 2024.
- In Q4 2025, total revenues reached almost $4 billion, a 16.3% year-over-year increase, driven by a 20.3% rise in the passenger segment. The quarter saw an Adjusted EBITDA of $1.1 billion, up 30.4% versus Q4 2024, and net income of $484 million, increasing 78.1%.
- Operationally, the group transported over 87 million passengers in 2025, with 23 million in Q4, and increased capacity by 8.2% for the full year. The fleet expanded to 371 aircraft by year-end 2025, a 7% increase.
- The company's balance sheet showed strong liquidity of $3.7 billion and adjusted net leverage of 1.5 times by the end of 2025. LATAM distributed $400 million in interim dividends in Q4 2025, contributing to $605 million in total dividends for the year, and executed $585 million in share repurchase programs.
- For 2026, LATAM projects capacity growth between 8%-10% and an adjusted operating margin of 15%-17%. Adjusted leveraged free cash flow is expected to exceed $1.7 billion, and liquidity is anticipated to be above $5 billion.
3 days ago
LATAM Airlines Group Reports Strong Full-Year 2025 Results with Increased Net Income and Capacity
LTM
Earnings
Dividends
Share Buyback
- LATAM Airlines Group reported a net income of US$1.5 billion for the full year 2025, a 49.4% increase compared to 2024, with diluted earnings per ADS of US$4.95.
- Total revenues for FY 2025 reached US$14.5 billion, up 11.2% year-over-year, driven by an 8.2% increase in capacity and 87.4 million passengers transported.
- For the fourth quarter of 2025, total operating revenues increased 16.3% to US$3,949 million, and net income attributable to owners of the parent company rose 78.1% to US$484 million.
- The company generated US$4.1 billion in adjusted EBITDAR for 2025, a 31.6% increase from 2024, achieving an adjusted EBITDAR margin of 28.2%.
- Strong cash generation of US$1.4 billion in 2025 allowed for US$585 million in share repurchases and US$693 million in total dividends. Adjusted net leverage improved to 1.5x at year-end 2025.
3 days ago
LATAM Airlines Group S.A. Reports FY 2025 Financial Results and Capital Actions
LTM
Earnings
Share Buyback
Dividends
- For the year ended December 31, 2025, LATAM Airlines Group S.A. reported a net income of ThUS$1,463,561 and net cash inflow from operating activities of ThUS$3,737,096.
- The company reduced its share capital by US$585,424,212 through the cancellation of 30,221,893,878 treasury shares in October 2025. This followed the approval of a new share repurchase program in June 2025 for up to 3.4% of outstanding shares.
- Total Property, plant and equipment increased to ThUS$11,947,014 as of December 31, 2025. Concurrently, total obligations with financial institutions rose to ThUS$8,088,526 by the same date.
- The company paid dividends totaling ThUS$605,181 for the year ended December 31, 2025.
- LATAM Airlines Group S.A. recognized losses of US$19.1 million from fuel hedging activities, net of premiums, in the costs of sales for the year ended December 31, 2025.
3 days ago
LATAM Airlines Group S.A. Reports Strong 2025 Operating Statistics
LTM
Revenue Acceleration/Inflection
New Projects/Investments
- LATAM group transported 87.4 million passengers in 2025, marking a 6.6% increase compared to 2024.
- In December 2025, consolidated capacity (ASK) increased by 10.9%, and consolidated traffic (RPK) grew by 10.5%, leading to a consolidated load factor of 84.5%.
- This December growth was primarily driven by a 13.9% increase in international operations and an 11.9% growth in LATAM Airlines Brazil's domestic capacity.
- During 2025, the group launched eight new destinations, expanding its network to 160 passenger destinations across 27 countries.
Jan 12, 2026, 11:10 AM
LATAM Airlines Outlines 2026 Guidance and Strategic Growth Initiatives at Investor Day 2025
LTM
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- LATAM Airlines provided 2026 guidance, projecting 8% to 10% capacity growth, an adjusted operating margin between 15% and 17%, cash generation above $1.7 billion, liquidity above $5 billion, and net leverage at or below 1.4 times.
- The company forecasts $14.5 billion in revenues for 2025, outpacing capacity growth with a 2% increase in revenue per ASK.
- A key strategic focus is digitalization and premium revenue growth, with 60% of revenues now coming from LATAM Pass members and premium revenues growing 14% in 2025.
- LATAM is committed to cost efficiency, projecting almost flat unit costs for 2025 and 2026, and plans to fund profitable growth with a $1.5 billion CapEx plan in 2025.
- Shareholder returns are prioritized, with a commitment to minimum 30% dividends and $400 million in interim dividends approved for 2025, alongside share buyback programs.
Dec 9, 2025, 2:30 PM
LATAM Airlines Group Outlines Growth Strategy and Financial Outlook at Investor Day 2025
LTM
Guidance Update
New Projects/Investments
Dividends
- LATAM Airlines Group provided 2026 guidance projecting 8% to 10% capacity growth, an adjusted operating margin between 15% and 17%, and cash generation exceeding $1.7 billion.
- The company plans significant fleet expansion with 41 aircraft deliveries confirmed for 2026, including 3 widebodies, 26 narrow bodies, and 12 Embraer E2s, contributing to approximately 9% blended capacity growth.
- LATAM reported robust revenue growth in 2025, with premium revenues increasing 14% and ancillary revenues growing 20%, alongside an improved Net Promoter Score (NPS) by 22 points since 2019.
- The company highlighted strong financial discipline, expecting net leverage to be below 1.5x by the end of 2025 and having reduced its cost of debt by over 400 basis points in the last two years, resulting in over $150 million in annual interest savings.
- LATAM's capital allocation framework prioritizes profitable growth, maintaining a strong balance sheet, and enhancing shareholder returns, including a minimum 30% dividend policy and an interim dividend of $400 million paid in 2025.
Dec 9, 2025, 2:30 PM
LATAM Airlines Group Presents 2026 Guidance and 2027 Aspirations at Investor Day
LTM
Guidance Update
New Projects/Investments
Dividends
- LATAM Airlines Group provided 2026 guidance, projecting capacity growth between 8% and 10%, adjusted operating margin between 15% and 17%, cash generation above $1.7 billion, and liquidity above $5 billion. For 2027, aspirations include return on invested capital above 20%.
- The company expects net leverage to be at or below 1.4 times for 2025 and 2026, and has reduced its cost of debt by over 400 basis points in the last two years, resulting in over $150 million annually in interest savings.
- LATAM plans to return value to shareholders through a minimum of 30% dividends and executed a $400 million interim dividend in 2025, alongside share buyback programs. The company is also expanding its fleet with three new 787 wide bodies in 2026 and 41 total deliveries in 2026, including 12 Embraer aircraft, supporting premium revenue growth of 14% in 2025 and ancillary revenue growth of 20% in 2025.
Dec 9, 2025, 2:30 PM
LATAM Airlines Group Reports November 2025 Operating Statistics
LTM
Revenue Acceleration/Inflection
- LATAM Airlines Group transported 7.4 million passengers in November 2025, representing a 4.9% year-over-year increase.
- Consolidated capacity, measured in available seat-kilometers (ASK), increased by 4.6% in November 2025 compared to the same month in 2024, driven by an 11.4% increase in LATAM Airlines Brazil’s domestic capacity and a 4.0% rise in international operations.
- Consolidated traffic, measured in revenue passenger-kilometers (RPK), rose 3.6% in November 2025, resulting in a system-wide load factor of 85.4%.
- Cargo capacity, measured in available ton-kilometers (ATK), saw a 1.0% increase in November 2025 compared to the prior year.
Dec 8, 2025, 11:28 AM
Quarterly earnings call transcripts for LATAM AIRLINES GROUP.
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