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Embraer Reports First Quarter Net Loss of $70.8 Million or $0.39 per Share

Embraer has reported a first quarter net loss of $70.8 million or ($0.39) per ADS basic share on a year-over-year increase in revenue of 19 percent to $717 million. At March 31, 2023, the company had a firm order backlog valued at $17.4 billion.

Embraer Reports First Quarter 2023 Financial Results - Courtesy Embraer

On Thursday (May 4, 2023), Embraer reported their first quarter financial results for the period ending March 31, 2023. The company reported a first quarter net loss of $70.8 million or (0.39) per share on a 19 percent year-over-year increase in revenue to $717 million. Commercial Aviation revenue grew 17.5 percent versus Q1 2022 to $198.8 million, while Executive Jets revenue declined 3.0 percent compared to the same period last year to $87.1 million. Defense & Security revenue increased year-over-year by 56.3 percent compared to Q1 2022 to $97.7 million, while Services & Support revenue grew 20.3 percent to $326.2 million. At March 31, 2023, Embraer had a firm order backlog valued at $17.4 billion, and net debt totaling $1.42 billion (excluding EVE).

During the first quarter, Embraer delivered 15 jets, including seven commercial and eight executive jets (six light and two mid-size). Commercial aircraft deliveries included two E175s and five E195-E2s. Additionally, the first pre-owned E190-E1 to be converted to freighter arrived in São José dos Campos, Brazil. Embraer’s E190F and E195F freighters will enable cargo carriers to maximize efficiency by matching capacity with demand in smaller markets. During Q1, Air New Zealand also signed an agreement to join Embraer’s Energia Advisory Group to accelerate the development of zero emissions aircraft technology for the regional market. Singapore Airlines’ LCC subsidiary Scoot also announced they will add the Embraer E190-E2 to their fleet (not considered in backlog).

Embraer's First Quarter 2023 Financial Results - Courtesy Embraer

Headquartered in Brazil, Embraer is a global aerospace company and one of the leading manufacturers 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 also has businesses in Executive Aviation, Defense & Security, and Agricultural Aviation. 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


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