Positive
Reuters
●
about 22 hours old
Embraer reaffirms 2024 outlook as net profit rises in second quarter
Brazil's Embraer reported adjusted net income of 415.7 million reals ($73.75 million) for the second quarter, up from 276 million reals a year earlier, according to a securities filing Thursday.
Adjusted EBIT reached 138.8 million US dollars in Q2 2024 with a margin of 9.3% (6.8 million US dollars and 0.8% in Q1 2024).
Embraer delivered 47 jets in the second quarter of 2024
47 jets, including 27 business jets
(20 light and 7 medium) , 19 commercial aircraft and 1 multi-role C-390 Millennium defense aircraft - an increase of 88% compared to the 25 aircraft delivered in the first quarter of 2024.
Firm backlog amounted to USD 21.1 billion in Q2 2024 - a 7-year high, an increase of over 20% year-on-year.
Guidance for 2024 confirmed: Management believes current estimates are valid and represent balanced risks and rewards for full year operations. Deliveries of 72 to 80 aircraft in commercial aviation and 125 to 135 in executive aviation . Total company revenue in the range of USD 6.0 to 6.4 billion, adjusted EBIT margin between 6.5 % and 7.5 % and adjusted free cash flow of USD 220 million or more.
