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Embraer Reports Fourth Quarter 2023 Net Profit of $192.6 Million or $1.049 per ADS Share

Embraer has reported a fourth quarter 2023 net profit of $192.6 million or $1.049 per ADS share on a year-over-year increase in revenue to $1.98 billion.  For the full year, the company’s revenue increased 16 percent versus FY 2022 to $5.27 billion.


Embraer Reports Fourth Quarter and Full Year 2023 Financial Results - Courtesy Embraer

On Monday (March 18, 2024), Embraer reported their fourth quarter and full-year financial results for the period ending December 31, 2023.  The company reported a fourth quarter net profit of $192.6 million of $1.049 per diluted share on a year-over-year increase in revenue to $1.98 billion.  For the full-year 2023, Embraer’s revenue increased 16 percent versus FY 2022 to $5.27 billion.  At the end of 2023, Embraer’s firm order backlog totaled $18.7 billion, the highest level in six years, and the company has cash, cash equivalents and financial investments totaling $2.48 billion.


During the fourth quarter, Embraer delivered 75 aircraft, including 25 commercial, of which 49 were executive jets (30 light and 19 medium), and one was a military C-390 Millennium.  For the full year 2023, the company delivered 181 jets, including 64 commercial airplanes, 115 executive jets (74 light and 41 medium) and two C-390s.  Embraer’s 2023 deliveries increased 13 percent year-over year, compared to the delivery of 160 jest in FY 2022.


Excluding EVE, Embraer’s total net debt declined to $781 million at the end of Q4, 2023, down from $1.37 billion at the end of Q4 2022. 


As previously mentioned, Embraer delivered 25 and 64 commercial jets in the fourth quarter and full-year 2023, respectively.  In North America, Porter Airlines exercised purchase rights for 25 Embraer E195-E2 jets, adding to 50 existing firm orders.  The deal, valued at $2.1 billion at list price, was added to the company’s fourth quarter 2023 backlog.  In Asia, the E195-E2 and E195-E2 attained type certification from the Civil Aviation Authority of Singapore (CAAS).  Scoot, the low-cost subsidiary of Singapore Airlines will begin operating the E190-E2 in 2024.  Additionally, the E195-E2 received certification for Steep Approach into London City Airport (LCY) from EASA. 


Embraer's Fourth Quarter and Full Year 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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