Even though I’m no longer invested in Embraer, my heart still lies with the Brazilians.
Maybe I’ll get back in at some point.
But you can’t be on every flight.
Embraer Sells More Military Aircraft and Boosts Profits
Brazilian aircraft manufacturer Embraer has significantly increased its profits thanks to a thriving defense business. Revenue rose 10 percent year-over-year in the second quarter to 11.34 billion reais (1.92 billion euros), the company announced. Net income climbed 25 percent to 1.11 billion reais. In light of the strong business performance, Embraer doubled its forecast for free cash flow this year. The adjusted operating margin (EBIT) is now expected to range between 10.0 and 10.6 percent, instead of the previously forecast 8.7 to 9.3 percent.
Embraer manufactures smaller aircraft such as regional jets and business jets, as well as military transport aircraft. In the past quarter, the company delivered 65 aircraft, representing a 7 percent increase. The defense division performed particularly well, with revenue up 22 percent, driven by the KC-390 Millennium military transport aircraft.
