Director ASIM Sandro VR, aug 08
In the second quarter of 2024, Embraer significantly increased its aircraft deliveries, reaching 47 jets, up from 25 in the previous quarter. This included 27 executive jets, 19 commercial jets, and one multi-mission C-390 Millennium for Defense. This marked an 88% increase in deliveries, reflecting the company’s strong performance and demand across its product lines.
Embraer’s firm order backlog reached a 7-year high at $21.1 billion, representing an annual increase of over 20%. The company’s revenues for the quarter totaled $1.494 billion, a 67% increase from the previous quarter, with commercial aviation revenues showing exceptional growth of 176%. Adjusted EBIT also saw significant improvement, rising to $138.8 million with a 9.3% margin.
Despite the positive revenue and order backlog figures, Embraer reported a negative adjusted free cash flow of $215 million, mainly due to working capital needs to support a higher number of deliveries expected in the second half of the year. However, the company reaffirmed its 2024 guidance, anticipating commercial aviation deliveries between 72 and 80 aircraft, executive aviation deliveries between 125 and 135, total revenues between $6.0 and $6.4 billion, an adjusted EBIT margin between 6.5% and 7.5%, and adjusted free cash flow of $220 million or higher.
