LTM Q3 2025 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q3 2025 Earnings

Reported September 29, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2025	Q2 2025	Q3 2024	QoQ Change	YoY Change
Revenue	$3.8B	$3.3B	—	15.4%	—
Op. Income	$683M	$420M	—	62.5%	—
Gross Margin	30.4%	26.3%	—	4.1pp	—
Net Margin	10.0%	7.4%	—	2.5pp	—
EPS (Diluted)	$1.20	$0.80	—	50.0%	—
Free Cash Flow	$547M	$121M	—	352.7%	—

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$156M
General & Administrative	$226M
SG&A Expenses	$353M
Other Expenses	$104M
Operating Expenses	$457M
Cost & Expenses	$3.1B
OPERATING INCOME	$683M
Interest Income	$40M
Interest Expense	$254M
Other Income/Expenses	-$237M
INCOME BEFORE TAX	$446M
Income Tax Expense	$69M
Net Income from Continuing Ops	$381M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$374M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$374M
D&A	$447M
EBIT	$700M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$156M
General & Administrative	$226M
SG&A Expenses	$353M
Other Expenses	$104M
Operating Expenses	$457M
Cost & Expenses	$3.1B
OPERATING INCOME	$683M
Interest Income	$40M
Interest Expense	$254M
Other Income/Expenses	-$237M
INCOME BEFORE TAX	$446M
Income Tax Expense	$69M
Net Income from Continuing Ops	$381M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$374M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$374M
D&A	$447M
EBIT	$700M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$374M
Depreciation & Amortization	$447M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$61M
Change in Working Capital	$0
OPERATING CASH FLOW	$882M
Capital Expenditure	-$335M
Acquisitions (Net)	-$213.3K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$26M
NET CASH FROM INVESTING	-$336M
Net Debt Issuance	$25M
Common Stock Repurchased	-$429M
Common Dividends Paid	$2M
Other Financing Activities	-$214M
NET CASH FROM FINANCING	-$615M
FREE CASH FLOW	$547M
Net Change in Cash	-$50M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$93M
Net Receivables	$1.6B
Inventory	$451M
Other Current Assets	$13M
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$11.2B
Goodwill	$0
Intangible Assets	$1.1B
Long-Term Investments	$14M
Tax Assets	$6M
Other Non-Current Assets	$226M
TOTAL NON-CURRENT ASSETS	$12.6B
TOTAL ASSETS	$17.0B
Account Payables	$1.7B
Short-Term Debt	$788M
Deferred Revenue	$3.5B
Other Current Liabilities	$288M
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$3.3B
Deferred Revenue NC	$26M
Deferred Tax Liabilities	$345M
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$8.5B
TOTAL LIABILITIES	$15.9B
Common Stock	$5.0B
Additional Paid-In Capital	$0
Retained Earnings	$4.5B
Treasury Stock	-$585M
Accum. Other Comp. Income	-$7.8B
Other Equity	$3M
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	-$8M
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$17.0B
Total Debt	$7.6B
Net Debt	$5.6B