• Joe Breitfeller

Embraer Reports Adjusted Q4 Net Loss of $12.5 Million, FY 2020 Adjusted Net Loss of $464 Million

Embraer has reported a fourth quarter adjusted net loss of $12.5 million on a revenue decline of 11.7 percent to $1.8 billion. For the full year 2020, the company reported an adjusted net loss of $464 million on a 31 percent revenue decline to $3.8 billion.


Embraer Reports Fourth Quarter and Full Year 2020 Financial Results - Courtesy Embraer

On Friday (March 19, 2021), Embraer reported their fourth quarter and full year 2020 financial results. For the fourth quarter, the company reported an adjusted net loss (excluding special items and deferred income tax and social contribution) of $12.5 million or ($0.07) per share on a 11.7 percent revenue decline versus Q4 2019 to $1.8 billion. Embraer’s fourth quarter net loss was $3.3 million or ($0.02)/share. For the full year 2020, the company reported an adjusted net loss of $464 million or ($2.52) per share on a year-over-year revenue decline of 31 percent to $3.8 billion. Embraer's full year net loss was $732 million or ($3.98)/share.

Embraer ended the year with $2.8 billion in cash, unchanged versus the close of FY 2019, and total debt of $1.7 billion. During the fourth quarter, the company delivered 28 commercial and 43 executive jets and for the full year 2020, Embraer delivered 44 commercial and 86 executive jets. The company ended the year with a firm order backlog valued at $14.4 billion. Deliveries were impacted by the global COVID-19 pandemic with commercial deliveries down 51 percent versus 2019 and a year-over-year executive jet delivery decline of 21 percent.


Embraer's 2020 Main Financial Indicators for Fourth Quarter and Full Year 2020 - Courtesy Embraer

During the fourth quarter and full year 2020, Embraer delivered 28 and 44 commercial jets, respectively. In December, Belavia, the national carrier of Belarus, received their first of three Embraer E195-E2 jets on lease from AerCap. Belavia’s new jets are configured in a comfortable two class layout with nine Business and 116 Economy Class seats and will be deployed on popular routes including London, Barcelona, Nur-Sultan, Munich, Paris, Sochi and Amsterdam. Myanmar Airways International’s (MAI) first E190 began commercial service on December 21st, with four weekly flights to Yangon, and their second E190 arrived on December 23rd, allowing the carrier to add nine domestic routes and upguage from turboprops used by sister airline Air KBZ.


Embraer also released their 2020 Commercial Market Outlook, outlining demand over the next 10 years. The company expects the delivery of 4,420 new jets up to 150 seats and 1,080 new turboprops by 2019. At the end of the fourth quarter, Embraer’s Commercial Aviation’s firm order backlog was $7.6 billion , representing 53 percent of the company’s total order backlog.

Embraer's Commercial Order Backlog at the end of Q4 2020 - Courtesy Embraer

Headquartered in Brazil, Embraer is a global aerospace company and the leading manufacturer of aircraft with 70-150 seats, with more than 100 customers worldwide. The company maintains industrial units, offices and service/parts distribution centers across the Americas, Africa, Asia and Europe. Embraer has logged over 1,900 orders for their E-Jets and have already delivered over 1,600 to 80 customers in 50 countries. Since the company’s founding in 1969, Embraer has delivered over 8,000 aircraft. Today, an Embraer aircraft takes off on average every ten seconds, carrying over 145 million passengers annually.



Source: Embraer