LATAM Airlines Group S.A. · LTM · FY2026 Q3 · Calendar Q4 2026
LATAM Q3 revenue grew as management held full-year guidance amid fuel costs
LATAM's revenue growth and premium and cargo demand indicate operating resilience despite substantial fuel pressure. The investment case in the supplied analysis hinges on whether disciplined costs, fleet modernization and demand can sustain cash generation while fuel, currency and regional risks persist.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
The supplied Q2 analysis described raised full-year guidance; in Q3, management maintained its full-year outlook. Q3 analysis highlights strong revenue growth despite a reported $520 million fuel-cost headwind, alongside continued fleet modernization.
Guidance delta
Management maintained full-year guidance. The supplied analysis says the target includes at least $1.2 billion of adjusted levered free cash flow; it does not provide a revised range.
Key takeaways
- Revenue increased 18.4% year over year to $4.6 billion, according to the supplied Q3 analysis.
- Premium-cabin revenue grew 23%; passenger and cargo demand were identified as growth drivers.
- Adjusted EBITDA was approximately $1.1 billion, while CASK excluding fuel was described as largely flat.
- Management cited a $520 million fuel-cost headwind and reaffirmed its full-year outlook.
Management priorities
- Keep costs disciplined and align capacity with demand.
- Modernize the fleet, including Embraer E190-E2 deliveries, with a plan to reach 426 aircraft by 2027.
- Develop premium service, LATAM Pass and cargo revenue.
- Maintain digitalization and network optimization.
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Try FN2 freeCompany context
Snapshot as of publicationLATAM Airlines Group S.A., encompassing its various subsidiaries, specializes in providing both passenger and freight air transport services. The company's vast operational footprint extends across multiple continents, covering Chile, Peru, Ecuador, Colombia, Brazil, a range of other Latin American countries, the Caribbean, North America, Europe, and Oceania. In addition to its core aviation business, LATAM offers a suite of supplementary services, including ground handling, courier delivery, logistics solutions, and aircraft maintenance. As of December 31, 2023, the airline catered to passenger travel across 148 destinations in 26 countries, while its cargo operations reached 166 destinations across 33 nations, supported by a fleet of 333 aircraft. Founded in 1929, the company was initially known as LAN Airlines S.A. before officially rebranding to LATAM Airlines Group S.A. in June 2012, and its corporate headquarters are situated in Santiago, Chile.
Industrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| SWK Stanley Black & Decker, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +17.2% | Brand-led growth and raised guidance face cost and execution risks |
| AME AMETEK, Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.7% | +2.8% | AMETEK raises FY2026 outlook after record Q3 and 35% order growth |
| ETN Eaton Corporation plc | FY2026 Q3 · Calendar Q4 2026 | +4.0% | +7.0% | Eaton raises 2026 outlook as electrical demand and backlog strengthen |
| TRI Thomson Reuters Corporation | FY2026 Q3 · Calendar Q4 2026 | -9.0% | -9.9% | Thomson Reuters lifts 2026 outlook as AI products expand |
Latest beats and misses
Who reports nextBeat on EPS
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- WTRGFY2026 Q3 · November 3, 2026+13.7% EPS+2.5% move
- AIZFY2026 Q3 · November 3, 2026+29.5% EPS+4.2% move
- AIZNFY2026 Q3 · November 3, 2026+36.0% EPS+0.5% move
- SMCIFY2027 Q1 · November 3, 2026+47.2% EPS-4.2% move
- XYZFY2026 Q3 · November 3, 2026+9.7% EPS+14.9% move
Missed on EPS
- BSACFY2026 Q3 · October 30, 2026-20.0% EPS-3.0% move
- TXFY2026 Q3 · November 3, 2026-24.9% EPS-0.0% move
- CHTFY2026 Q3 · November 4, 2026-55.7% EPS+0.9% move
- TOSTFY2026 Q3 · November 3, 2026-20.1% EPS+5.9% move
- CPNGFY2026 Q3 · November 3, 2026-90.3% EPS+13.3% move
- TLNFY2026 Q3 · November 3, 2026-65.4% EPS+7.3% move
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Sources
- Earnings call transcript and parsed analysis · 2026-11-04T18:11:56.756151+00:00
- FN2 earnings calendar · 2026-11-04T01:23:13.345574+00:00
- Polygon adjusted daily market bars · 2026-11-04T19:30:45.234897+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T19:30:45.232125+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.