Embraer has reported a first quarter net loss of $31.7 million or ($0.17) per basic U.S. ADS share on a 26 percent year-over-year decline in revenue to $601 million. At March 31, 2022, the company had a firm order backlog valued at $17.3 billion.
On Thursday (April 28, 2022), Embraer reported their first quarter financial results for the period ending March 31, 2022. The company reported a first quarter net loss of $31.7 million or ($0.17) per basic U.S. ADS share on a year-over-year decline in revenue to $601 million. During the quarter, Embraer delivered 14 jets including six commercial and eight executive jets (six light and two mid-size). At the close of the quarter Embraer had a firm order backlog valued at $17.3 billion, and cash, cash equivalents and investments totaling $2.1 billion. The company ended the quarter with total debt of $3.6 billion, and net debt of $1.5 billion.
The company’s Commercial Aviation revenue for the first quarter declined 38 percent versus Q1 2021, while Executive Aviation revenues declined year-over-year by 41 percent, both on lower aircraft deliveries. Embraer’s first quarter Defense & Security revenue fell 47 percent compared to the same period last year to $68.3 million, primarily attributable to the lack of KC-390 deliveries. During the first quarter, the company’s Services & Support activities reported revenues of $271.2 million, an 8.0 percent increase versus Q1 2021.
Embraer’s first quarter net property, plant and equipment (PP&E) additions were $18.1 million with $8.7 million in CAPEX and $10.0 million in pool program spare parts, partially offset by proceeds of $0.6 million from the sale of PP&E. Embraer also invested $21.4 million in product development during the quarter, mainly related to the E-Jets E2 program, as well as $38 million in R&D.
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 the company has already delivered over 1,600 of the jets 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