LATAM Airlines EPS misses by $3.35, beats on revenue

• LATAM Airlines (NYSE:LTM): Q1 GAAP EPS of -$3.50 misses by $3.35.
• Revenue of $2.35B (-7.1% Y/Y) beats by $30M.
• The loss was driven by $1.73B goodwill impairment charge due to COVID-19.
• Costs per ASK was $0.06 (-1.2% Y/Y) and fuel gallons consumed 286M (-11.1%).
• Passenger ASK 35.495B (-6.6% Y/Y) and passengers transported 17.65M (-2.9%).
• Cargo ATK 1.587B (-1.1% Y/Y), tons transported 226K (+5.3%) and load factor 52.5% (-360bps).
• Operating margin improved 80bps to 4.1% and EBITDA margin improved 320bps to 20.4%.
• Shares +4.6% AH.
• Press Release
• Previously: Latam Airlines files for bankruptcy (May. 26 2020)