Hot in Brazil

Embraer delivered 43 jets in 2023’s third-quarter, an increase of thirty-percent compared to 2022’s third-quarter, during which 33 aircraft were delivered.

Commercial Aviation has shown robust delivery growth, soaring from ten to 15 aircraft, a fifty-percent increase compared to the same period in 2022. For Executive Aviation, there was also an increase; 28 jets delivered (19 light and 9 medium) representing a 22-percent increase compared to 2022’s third-quarter.

All told, Embraer has delivered a total of 105 aircraft in 2023 (39 commercial aircraft and 66 executive jets), a 33-percent increase compared to the same period in 2022, during which 79 jets (27 commercial aircraft and 52 executive jets) were delivered up to the third quarter. For the second quarter in a row, Embraer experienced double-digit delivery growth; in 2023’s second-quarter, the company's deliveries grew by 47-percent, compared to the same period in 2022.

Embraer’s firm order backlog ended 2023’s third-quarter at $17.8-billion, an increase of $500-million over the year’s second-quarter. The cited volume represents the apogee of the company’s backlog over the last year.

Between 2023’s second- and third-quarter, Embraer’s Commercial Aviation backlog rose from $8-billion to $8.6-billion, with 42 aircraft sold up to September.

By way of earnings, Embraer’s revenues reached $1.284-billion in 2023’s third-quarter, 38-percent higher than 2022’s third-quarter and equal to 2023’s second-quarter. Year-to-date revenues occasion an increase of 29-percent compared to the same period in 2022. All Embraer business units saw higher revenues and volumes Year over Year (YoY) and YTD, with the principal highlight being Commercial Aviation, which represented strong growth of 68%-percent YoY and 52-percent YTD.

Adjusted EBIT of 7.8-percent compared to 5.4-percent in 2022’s third-quarter due to higher volumes in all business units.

Services & Support reached $2.8-billion in 2023’s third-quarter, the highest volume ever recorded in the business unit. Executive Aviation’s strong $4.3-billion backlog highlighted sustained demand.

2023’s third-quarter saw Embraer’s Adjusted Free Cash Flow w/o EVE (FCF) at $44-million, indicating strong cash generation in the 2023’s fourth-quarter driven by increased deliveries.

Embraer’s operational and financial guidance for 2023 remains unchanged.

FMI: www.embraer.com