LATAM AIRLINES GROUP S.A. (LTM) Form 6-K — Nov 3, 2026
LATAM Airlines reported 3Q26 revenues of US$4,567 million, up 18.4% year-over-year, with net income of US$441 million (+16.3%) and diluted EPS per ADS of US$1.54. Passenger RASK grew 9.4% on 7.7% capacity expansion, and the company passed through roughly 80% of a ~US$520 million fuel headwind. Profitability compressed nonetheless: adjusted operating margin fell 5.6 points to 12.5% and adjusted EBITDA declined 4.7% to US$1,095 million as fuel costs jumped 60.9% year-over-year. Management cut full-year adjusted EBITDA guidance to US$3.9-4.05 billion while raising revenue guidance to US$17.6-17.8 billion.
Key figures
- Eps
- 1.54
- Revenue
- 4567000000
- Guidance
- FY2026 revenue raised to US$17.6-17.8B; Adjusted EBITDA now US$3.9-4.05B (down from prior US$4.10-4.40B); Adjusted Operating Income US$1.90-2.05B; Adjusted Levered FCF at least US$1.2B
- Net Income
- 441000000
- Total Debt
- 9200000000
- Revenue Yoy
- +18.4%
- Cash Position
- 2871000000
- Net debt
- US$6.4B
- Financing
- US$505M long-term financing closed, US$400M sustainability-linked
- Fuel impact
- ~US$520M YoY
- Load factor
- 83.7%
- Fuel cost yoy
- +60.9%
- Passenger rask
- +9.4% YoY
- Credit upgrades
- S&P and Fitch to BB+ with stable outlooks
- Diluted eps ads
- US$1.54 (+17.8% YoY)
- Total liquidity
- US$4,446M
- Adjusted ebitda 3q26
- US$1,095M (-4.7% YoY)
- Adjusted net leverage
- 1.5x
- Adjusted operating margin
- 12.5% (vs 18.1% in 3Q25)
- Share repurchase progress
- ~0.65% of shares repurchased vs 1% authorized tranche
AI analysis
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