Embraer had a quarter unlike any it has seen in a long time, with total revenue of US$ 1.692 billion, an increase of 32% compared to the same period in 2023.
Despite this, the Brazilian planemaker revised its guidance for commercial aircraft deliveries. From a range of 72 to 80 jets, Embraer now estimates ending the year with 70 to 73 deliveries.
The business aviation target, however, remains unchanged, with a forecast of 125 to 135 aircraft to be shipped to its customers.
Executive jets and Embraer Defense & Security drove the excellent results of the previous quarter.
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Executive Aviation jumped from US$ 340 million to US$ 562 million, an increase of 65%, the best result ever obtained by the business unit in its history.
Meanwhile, the Defense & Security division, driven by the production of the C-390 Millennium, saw its revenue rise from US$ 133 million to US$ 220 million (+65%). The gross margin, however, fell amid a series of A-29 turboprops produced without customers and delays in the supply chain.
Issues in the production of E-Jets
Revenues from Commercial Aviation, the company’s main business unit, also grew, from US$ 425 million to US$ 473 million, but as in defense, difficulties with suppliers affected the final result.
It is therefore not surprising that the E-Jets delivery target has been revised, since Embraer had only delivered 42 aircraft by September. It will have to complete the delivery of at least 28 jets by December to reach its minimum target.
A business unit that has been increasing its share, Services & Support, ended the quarter with revenue of US$ 426 million (up 16%).
