{"id":808,"date":"2024-11-09T18:06:43","date_gmt":"2024-11-09T18:06:43","guid":{"rendered":"https:\/\/airshowsinternationalmagazine.com\/?p=808"},"modified":"2024-11-09T18:22:10","modified_gmt":"2024-11-09T18:22:10","slug":"embraer-earnings-results-3rd-quarter-2024","status":"publish","type":"post","link":"https:\/\/airshowsinternationalmagazine.com\/?p=808","title":{"rendered":"EMBRAER EARNINGS RESULTS 3RD QUARTER 2024"},"content":{"rendered":"\n

ASIM, nov 09<\/em><\/strong><\/p>\n\n\n\n

\u00b7 2024 Guidance updated:<\/strong> Management believes prior guidance no longer represents evenly balanced opportunities and risks for full-year operations. From an operations point of view, we estimate Commercial Aviation deliveries between 70 and 73 aircraft (down from 72 and 80), and Executive Aviation deliveries between 125 and 135 (unchanged).<\/strong> From a finance point of view, we forecast Revenues in the US$6.0-6.4 billion range (unchanged)<\/strong>, Adjusted EBIT margin between 9.0% and 10.0% (up from 6.5% and 7.5%),<\/strong> and Adjusted Free Cash Flow of US$300 million or higher (up from US$220 million or higher).<\/strong><\/p>\n\n\n\n

\u00b7 Fitch Ratings upgraded our credit rating from \u201cBB+\u201d to \u201cBBB-\u201d with a stable outlook in late September.<\/strong> Consequently, both S&P and Fitch currently rate the company Investment Grade (IG). Moody\u2019s rating remains Ba1 (i.e. one-notch below IG) but it recently revised the company\u2019s outlook to positive.<\/p>\n\n\n\n

\u00b7 Embraer delivered 59 jets<\/strong> in 3Q24<\/strong> of which 41 were executive jets <\/strong>(22 light and 19 medium), 16 were commercial jets<\/strong> and 2 multi-mission C-390 Millennium<\/strong> in Defense & Security; +26% versus the 47 aircraft delivered quarter over quarter (qoq) and +37% versus the 43 aircraft delivered year over year (yoy).<\/p>\n\n\n\n

\u00b7 Firm order backlog<\/strong> of<\/strong> US$22.7 billion in 3Q24<\/strong> \u2013 <\/strong>a new record, at a 9-year high level, more than 25% higher yoy and almost 10% higher qoq. For more information please see our 3Q24 Backlog and Deliveries release.<\/a><\/p>\n\n\n\n

\u00b7 Revenues totaled US$1,692 million in the period; +32% <\/strong>yoy.<\/strong> Highlight for Executive Aviation and Defense & Security revenues +65% yoy growth each.<\/p>\n\n\n\n

\u00b7 Adjusted EBIT reached US$297.5 million with a 17.6% margin in 3Q24 <\/strong>(US$147.5 million and 8.7% ex-Boeing arbitration; US$100.1 million and 7.8% in 3Q23).<\/strong><\/p>\n\n\n\n

\u00b7 Adjusted<\/strong> free cash flow<\/strong> w\/o Eve was US$241.1 million<\/strong> during the quarter because of higher number of aircraft delivered.<\/p>\n","protected":false},"excerpt":{"rendered":"

ASIM, nov 09 \u00b7 2024 Guidance updated: Management believes prior guidance no longer represents evenly balanced opportunities and risks for full-year operations. From an operations point of view, we estimate Commercial Aviation deliveries between 70 and 73 aircraft (down from 72 and 80), and Executive Aviation deliveries between 125 and 135 (unchanged). From a finance point of view, we […]<\/p>\n","protected":false},"author":1,"featured_media":809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=808"}],"version-history":[{"count":1,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/808\/revisions"}],"predecessor-version":[{"id":810,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/808\/revisions\/810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=\/wp\/v2\/media\/809"}],"wp:attachment":[{"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/airshowsinternationalmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}