What is LATAM Airlines's latest dividend and current dividend yield?

What were the key takeaways from LATAM Airlines’s earnings call?

What guidance did LATAM Airlines's management provide for the next earnings period?

What were the key takeaways from LATAM Airlines's earnings call?

What is the revenue and EPS growth rate for LATAM Airlines year over year?

Did LATAM Airlines beat or miss consensus estimates last quarter?

What is LATAM Airlines's gross profit margin?

What does LATAM Airlines do and what are its main business segments?

- **Revenue Growth**: Q4 revenue up 16.3% YoY to $4 billion, driven by 20.3% passenger revenue growth.
- **Margin Expansion**: Adjusted operating margin 16.2% in 2025, up 3.5ppts YoY. 2026 target 15-17%.
- **Customer Loyalty**: NPS 54, highest on record, with premium revenues 23% of passenger income.
- **Fleet Investment**: 41 new aircraft in 2026, including 12 E2s for Brazil domestic routes.
- **Financial Strength**: Liquidity $3.7 billion, net leverage 1.5x, WACC 6.6%.

**【CEO Summary Section】**
- **Record Performance in 2025**: Transported 87 million passengers, achieving a Net Promoter Score (NPS) of 54, up 3 points YoY. Adjusted operating margin reached 16.2%, with net income of $1.5 billion, a 50% YoY increase.
- **Customer-Centric Growth**: 22 new routes launched, including 15 international, supported by a 7% fleet expansion to 371 aircraft. Premium revenues accounted for 23% of passenger income, growing 14% YoY.
- **2026 Outlook**: Capacity growth of 8-10%, adjusted operating margin target of 15-17%, and $1.7 billion in levered free cash flow. Fleet expansion includes 41 new aircraft, with focus on Brazil domestic routes using Embraer E2s.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Total revenue $4 billion (+16.3% YoY), adjusted EBITDAR $1.1 billion (+30.4% YoY), net income $484 million (+78.1% YoY). Passenger RASK up 11.7%, offsetting 7.9% unit cost increase.
- **Cost Management**: Full-year passenger CASK ex-fuel at $0.044, within guidance. One-time costs (e.g., bonuses) impacted Q4 unit costs, but 2025 CASK stable since 2019.
- **Balance Sheet Strength**: Liquidity $3.7 billion (25.7% of LTM revenue), adjusted net leverage 1.5x. Debt refinancing reduced WACC to 6.6%.

**【Q&A Highlights】**
- **Currency Impact**: Strong local currencies (e.g., BRL) benefit domestic demand but increase costs. Management expects net positive impact on margins.
- **CapEx Allocation**: $1.7 billion for 41 aircraft (3 wide-bodies, 12 E2s) and customer experience upgrades (e.g., Wi-Fi, premium cabins).
- **Cargo Performance**: 2025 cargo revenue growth offset Q4 decline vs. 2024. Unit revenue stability expected in 2026.
- **Dividend Policy**: $400 million interim dividend in Q4, with 2026 capital allocation flexibility ($1-1.6 billion post-CapEx).

LATAM Airlines Group S.A. (LTM) Q4 2025 Earnings Call Transcript

- **Record Financial Performance**: $850M EBITDA (25.9% margin), $242M net income (+66% YoY), and $3.6B liquidity.
- **Customer Satisfaction**: NPS 56 (record high), 9 SkyTrax awards for South America leadership.
- **Fleet Expansion**: 14 new aircraft delivered YTD, 11 A320neo orders for 2026, and 12H2 deliveries.
- **Debt Optimization**: $800M refinancing cuts interest costs by $33M annually, reducing leverage to 1.6x.
- **Growth Momentum**: 2025 ASK growth narrowed to 9.5-10.5% for Brazil, with 2026 ASK growth ~7-8%.

**【CEO Opening Remarks】**
- **Passenger Growth**: Transported 20.6 million passengers (+7.6% YoY), with 8.3% ASK expansion driven by Brazil (+10.9%) and international markets (+9.6%).
- **Customer Satisfaction**: Record-high NPS of 56, winning 9 SkyTrax awards for South America, including best airline staff and lounge.
- **Financial Highlights**: Total revenue $3.3B (+8.2% YoY), adjusted EBITDA $850M (25.9% margin), net income $242M (+66% YoY).
- **Fleet Expansion**: 14 new aircraft delivered YTD, 12 more expected in H2, and 11 A320neo orders for 2026.
- **Shareholder Returns**: $445M returned via dividends and 1.6% share buyback.

**【CFO Financial Commentary】**
- **Cash Flow**: Adjusted operating cash flow $753M, free cash flow $522M, supporting $3.6B liquidity.
- **Debt Optimization**: Refinanced $800M high-cost debt, saving $33M annually, reducing leverage to 1.6x.
- **Margins**: Operating margin 12.9% (vs. 9% YoY), EBITDA margin 25.9% (vs. 20.4% YoY).
- **Guidance Update**: Narrowed 2025 ASK growth to 9.5-10.5% for Brazil, raised EBITDA to $3.65-3.85B, and free cash flow >$1.3B.

**【Q&A Highlights】**
- **Growth Outlook**: 2026 ASK growth ~7-8% based on fleet plan, with premium revenue outpacing capacity.
- **Capital Allocation**: Target leverage <1.5x, with flexibility to return capital via dividends or buybacks.
- **Seasonality**: Reduced second-quarter seasonality due to premium revenue diversification and network balance.
- **Technology Impact**: AI and digital tools driving operational efficiency improvements beyond hardware upgrades.

Actual											-4916.399	1.18	0.81	1.686
Forecast											-300	1.0186	0.728	1.3326
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1538.80%	+15.85%	+11.26%	+26.52%

Actual	--	--	--	--	--	--	--	--	--	--	2.35B	3.41B	3.28B	3.95B
Forecast	--	--	--	--	--	--	--	--	--	--	2.40B	3.43B	3.31B	3.88B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.06%	-0.47%	-0.92%	+1.79%

LTM

LTM fundamentals

LTM Q4 2025 Earnings

Earnings Call

You can ask Aime

LTM

LTM fundamentals

LTM Q4 2025 Earnings

Earnings Call

LTM Earnings Call Summary for Q4/20258:00 AM on Feb 4, 2026

LTM Earnings Call Summary for Q2/20259:00 AM on Jul 29, 2025

LTM Earnings Call Summary for Q1/20259:00 AM on Apr 29, 2025

LTM Earnings Call Summary for Q1/2020 Apr 1, 2026

LTM Earnings Call Summary for Q4/2019 Apr 1, 2026

You can ask Aime