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Embraer Achieves A 7-Year High In Aircraft Deliveries With An 88% Increase
(MENAFN- The Rio Times) Brazil's Embraer significantly enhanced its operational and financial performance in the second quarter of 2024.
The company delivered 47 jets, split between 27 executive jets and 19 commercial jets.
This marked a significant surge of over 88% compared to the 25 aircraft delivered in the first quarter of 2024.
The company' total order backlog reached a remarkable $21.1 billion in the second quarter.
This represents the highest level in seven years and an increase of more than 20%. Revenues saw a substantial boost as well, totaling R$ 7.8 billion ($1.39 billion).
This figure is up 76% from the previous quarter. Notably, revenue from commercial aviation alone soared by 190%.
Embraer's adjusted EBIT for the quarter reached R$ 725.5 million ($129.6 million).
This achieved a margin of 9.2%, compared to just R$ 33.8 million ($6.04 million) and a 0.8% margin in the first quarter.
However, the adjusted free cash flow, excluding Eve, recorded a negative R$ 1.1 billion ($196.4 million).
This was largely due to preparations for an increased number of deliveries expected in the latter half of 2024.
Looking Ahead to 2024
This remarkable turnaround in Embraer' fortunes highlights the company's resilience. It also underscores the vibrant demand in the aerospace sector.
Such robust performance and promising forecasts reflect a significant recovery and growth trajectory for Embraer.
This marks its strategic success amidst evolving market dynamics. This progress is crucial as it shows the strength of the commercial and executive aviation markets.
Embraer establishes itself as a key player in the industry's post-pandemic recovery.
Embraer Achieves a 7-Year High in Aircraft Deliveries with an 88% Increase
The company delivered 47 jets, split between 27 executive jets and 19 commercial jets.
This marked a significant surge of over 88% compared to the 25 aircraft delivered in the first quarter of 2024.
The company' total order backlog reached a remarkable $21.1 billion in the second quarter.
This represents the highest level in seven years and an increase of more than 20%. Revenues saw a substantial boost as well, totaling R$ 7.8 billion ($1.39 billion).
This figure is up 76% from the previous quarter. Notably, revenue from commercial aviation alone soared by 190%.
Embraer's adjusted EBIT for the quarter reached R$ 725.5 million ($129.6 million).
This achieved a margin of 9.2%, compared to just R$ 33.8 million ($6.04 million) and a 0.8% margin in the first quarter.
However, the adjusted free cash flow, excluding Eve, recorded a negative R$ 1.1 billion ($196.4 million).
This was largely due to preparations for an increased number of deliveries expected in the latter half of 2024.
Looking Ahead to 2024
Commercial Aviation projects to deliver between 72 and 80 aircraft.
Executive Aviation expects to deliver between 125 and 135 aircraft.
The company anticipates total revenue to range between $6.0 billion and $6.4 billion.
Embraer forecasts the adjusted EBIT margin to range from 6.5% to 7.5%.
The firm projects the adjusted free cash flow to be $220 million or higher for the year.
This remarkable turnaround in Embraer' fortunes highlights the company's resilience. It also underscores the vibrant demand in the aerospace sector.
Such robust performance and promising forecasts reflect a significant recovery and growth trajectory for Embraer.
This marks its strategic success amidst evolving market dynamics. This progress is crucial as it shows the strength of the commercial and executive aviation markets.
Embraer establishes itself as a key player in the industry's post-pandemic recovery.
Embraer Achieves a 7-Year High in Aircraft Deliveries with an 88% Increase
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