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Wed, Apr 24, 2024

Embraer Backlog Hits Peak Despite Increased Delivery Tempo

Jet Manufacturer Passes 1st Quarter with Flying Colors

Embraer's order book is just as full as ever, hitting the highest level since 2017.

The company says it's increased its pace of deliveries by 67% in the first quarter of 2024, handing over 25 jets to customers compared to 15 in the same time frame last year. They even set a record for 1st quarter deliveries, last seeing that level of activity in 2016. All in all, Embraer's sitting pretty with the business it has at the moment, seeing continued popularity for its smaller, lighter aircraft like the Phenom and Praetor series. On the commercial side, its E195 and E175 remain largely the same year after year, with consistent deliveries and steady demand. This year, they handed off 7 such aircraft in quarter 1. In order to minimize the push and pull of market demand, Embraer announced a Production Leveling plan, which should grant a "stable production pace throughout the calendar year in the near to medium-term future".

Embraer expects continued momentum in the private and executive jet markets, describing "sustained demand" across its entire portfolio. Their order books are doing just fine, too, with a $4.6 billion USD backlog on hand, a $300 million increase over last quarter. As most manufacturers have learned, there's a whole lot of money to be had in services and support, with Embraer putting more effort into building clientele. That division finished the first quarter "flat at $3.1 billion". In years to come, that proportion will likely increase, as owners and operators of aging aircraft turn to the factory to keep them airworthy. On the commercial side, Embraer has $11.1 billion on the books, a $2.3 billion increase over last quarter. They credit a deal with American Airlines for 90 E175s, a deal that also included options for 43 more of the same, should the carrier choose to exercise.

FMI: www.embraer.com

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