LTM FY 2023 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

FY 2023 Earnings

Reported December 30, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$11.6B	—	$9.4B	—	24.3%
Op. Income	$1.1B	—	$1.2B	—	-11.0%
Gross Margin	24.3%	—	13.4%	—	10.8pp
Net Margin	5.0%	—	14.3%	—	-9.3pp
EPS (Diluted)	$2.00	—	$27.20	—	-92.6%
Free Cash Flow	$1.5B	—	-$734M	—	300.0%

Revenue Flow

Item	Amount
REVENUE	$11.6B
Cost of Revenue	$8.8B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$587M
General & Administrative	$683M
SG&A Expenses	$1.3B
Other Expenses	$475M
Operating Expenses	$1.7B
Cost & Expenses	$10.6B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$683M
Other Income/Expenses	-$482M
INCOME BEFORE TAX	$596M
Income Tax Expense	$15M
Net Income from Continuing Ops	$582M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$582M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$582M
D&A	$0
EBIT	$1.3B
EBITDA	$1.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$11.6B
Cost of Revenue	$8.8B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$587M
General & Administrative	$683M
SG&A Expenses	$1.3B
Other Expenses	$475M
Operating Expenses	$1.7B
Cost & Expenses	$10.6B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$683M
Other Income/Expenses	-$482M
INCOME BEFORE TAX	$596M
Income Tax Expense	$15M
Net Income from Continuing Ops	$582M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$582M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$582M
D&A	$0
EBIT	$1.3B
EBITDA	$1.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$582M
Depreciation & Amortization	$998M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$683M
Change in Working Capital	$0
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$796M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$136M
NET CASH FROM INVESTING	-$660M
Net Debt Issuance	-$567M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$583M
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$1.5B
Net Change in Cash	$498M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$140M
Net Receivables	$1.6B
Inventory	$593M
Other Current Assets	$138M
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$9.1B
Goodwill	$0
Intangible Assets	$1.2B
Long-Term Investments	$25M
Tax Assets	$5M
Other Non-Current Assets	$191M
TOTAL NON-CURRENT ASSETS	$10.5B
TOTAL ASSETS	$14.7B
Account Payables	$818M
Short-Term Debt	$184M
Deferred Revenue	$3.0B
Other Current Liabilities	$28M
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$2.9B
Deferred Revenue NC	$349M
Deferred Tax Liabilities	$382M
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$8.5B
TOTAL LIABILITIES	$14.2B
Common Stock	$5.0B
Additional Paid-In Capital	$0
Retained Earnings	$464M
Treasury Stock	$0
Accum. Other Comp. Income	-$5.0B
Other Equity	$39.0K
TOTAL STOCKHOLDERS' EQUITY	$450M
Minority Interest	-$12M
TOTAL EQUITY	$438M
TOTAL LIABILITIES & EQUITY	$14.7B
Total Debt	$7.0B
Net Debt	$5.3B