Equity Profile

LTM

LATAM Airlines Group S.A.

IndustrialsPassenger Airlines$15.1B

Aug11Tue

Pre-Earnings Brief

UpcomingQ1-2026After Close9:00 AM EDT

Company Snapshot

LATAM Airlines Group S.A. is a major airline company in South America, providing passenger and cargo services across the continent and beyond....

Key Metrics to Watch

Passenger Revenue

This metric is crucial as it reflects the demand for air travel, which can be influenced by economic conditions and consumer confidence.

N/A

Load Factor

The load factor indicates how efficiently the airline fills seats and generates revenue, which is vital for profitability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

LTM Q1-2026 Earnings Preview

Context

Company Snapshot

LATAM Airlines Group S.A. is a major airline company in South America, providing passenger and cargo services across the continent and beyond. As a key player in the passenger airline industry, its performance is closely tied to consumer travel demand and economic conditions in the region.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-13.76%

Avg Stock Reaction

-0.20%

Last Quarter Recap

In the last quarter, LATAM Airlines reported a significant earnings miss, with EPS of $0.00 compared to expectations of $1.26. The stock reacted negatively, dropping 1.64% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for LATAM Airlines are cautious given the recent earnings miss and the uncertainty surrounding travel demand. Investors are closely watching for signs of recovery in passenger numbers and revenue.

Bull Case

If LATAM can demonstrate a rebound in passenger revenue and improved load factors, it could signal a strong recovery in travel demand, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to show improvement in key metrics or if operating costs remain high, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected passenger revenue growth for the upcoming quarter?

This will indicate whether the airline is recovering from previous lows and how well it is capitalizing on travel demand.

How are operating costs being managed in the current economic environment?

Understanding cost management is crucial for assessing profitability, especially with fluctuating fuel prices.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for a rebound in travel demand as restrictions ease, leading to stronger-than-expected passenger revenue.

Supporting Evidence

Options pricing indicates a 5% move, suggesting that the market is bracing for volatility.

LATAM's historical performance shows that recovery phases can lead to rapid increases in passenger numbers.

Recent trends in consumer travel sentiment indicate a willingness to travel, which could boost revenues.

Key Risk

If passenger revenue growth exceeds expectations, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the balance between recovering travel demand and managing operational efficiency.

Bull Confirmed If

A passenger revenue growth of over 15% year-over-year would confirm the bull case.

Bear Confirmed If

Operating costs exceeding projections by more than 10% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±5%

The options market is pricing in a potential move of 5% in either direction following the earnings report, indicating uncertainty among investors.

Detail

30d HV

51.7%

Calls (29K)P/C Ratio: 1.02Puts (14K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If LATAM beats expectations, history suggests the stock could rise by around 1.64%, confirming a positive outlook for recovery.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see limited movement as investors weigh future prospects.

Miss

If the company misses expectations again, history suggests a potential drop of 1.64%, indicating ongoing concerns about profitability.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on passenger revenue trends compared to last quarter.
2Details on load factor improvements and capacity management.
3Insights into cost management strategies amid fluctuating fuel prices.
4Any commentary on market conditions and competitive landscape.
5Future guidance on expected recovery in travel demand.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug8

ONReported

ON Semiconductor Corporation

RecapView

Aug9

PARRReported

Company Snapshot

LATAM Airlines Group S.A. is a major airline company in South America, providing passenger and cargo services across the continent and beyond....

Key Metrics to Watch

Passenger Revenue

This metric is crucial as it reflects the demand for air travel, which can be influenced by economic conditions and consumer confidence.

N/A

Load Factor

The load factor indicates how efficiently the airline fills seats and generates revenue, which is vital for profitability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

LTM Q1-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-13.76%

Avg Stock Reaction

-0.20%

Last Quarter Recap

In the last quarter, LATAM Airlines reported a significant earnings miss, with EPS of $0.00 compared to expectations of $1.26. The stock reacted negatively, dropping 1.64% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If LATAM can demonstrate a rebound in passenger revenue and improved load factors, it could signal a strong recovery in travel demand, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to show improvement in key metrics or if operating costs remain high, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected passenger revenue growth for the upcoming quarter?

This will indicate whether the airline is recovering from previous lows and how well it is capitalizing on travel demand.

How are operating costs being managed in the current economic environment?

Understanding cost management is crucial for assessing profitability, especially with fluctuating fuel prices.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for a rebound in travel demand as restrictions ease, leading to stronger-than-expected passenger revenue.

Supporting Evidence

Options pricing indicates a 5% move, suggesting that the market is bracing for volatility.

LATAM's historical performance shows that recovery phases can lead to rapid increases in passenger numbers.

Recent trends in consumer travel sentiment indicate a willingness to travel, which could boost revenues.

Key Risk

If passenger revenue growth exceeds expectations, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the balance between recovering travel demand and managing operational efficiency.

Bull Confirmed If

A passenger revenue growth of over 15% year-over-year would confirm the bull case.

Bear Confirmed If

Operating costs exceeding projections by more than 10% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±5%

The options market is pricing in a potential move of 5% in either direction following the earnings report, indicating uncertainty among investors.

Detail

30d HV

51.7%

Calls (29K)P/C Ratio: 1.02Puts (14K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If LATAM beats expectations, history suggests the stock could rise by around 1.64%, confirming a positive outlook for recovery.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see limited movement as investors weigh future prospects.

Miss

If the company misses expectations again, history suggests a potential drop of 1.64%, indicating ongoing concerns about profitability.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on passenger revenue trends compared to last quarter.
2Details on load factor improvements and capacity management.
3Insights into cost management strategies amid fluctuating fuel prices.
4Any commentary on market conditions and competitive landscape.
5Future guidance on expected recovery in travel demand.