Embraer has reported a fourth quarter net income of $22.9 million or $0.125 per basic ADS share on a year-over-year increase of revenue to $1.99 billion, compared to $1.30 billion during the same period last year.
On Friday (March 10, 2023), Embraer reported their fourth quarter and full-year financial results for the period ending December 31, 2022. For the fourth quarter, the company reported a net income of $22.9 million or $0.125 per basic ADS share on a year-over-year increase in revenue to $1.99 billion, versus $1.30 billion during Q4 2021. For the full year, Embraer reported a net loss of 185.3 million or ($1.00) per basic ADS share on an 8.2 percent year-over-year increase in revenue to $4.54 billion. At December 31, 2022, the company had a firm order backlog valued at $17.5 billion, and increase of $500 million compared to year-end 2021. Embraer ended the year with cash and cash equivalents and investments totaling $2.45 billion and net debt of $721.9 million.
Embraer's Q4 and Full-Year 2022 Financial Highlighs - Courtesy Embraer
Embraer delivered 80 jets during Q4, including 30 commercial aircraft and 50 executive jets (10 light and 17 mid-size). During 2022, Porter Airlines increased their number of firm orders for E195-E2 aircraft by 20, for a total of 50 firm orders. Alaska Air Group ordered 8 new E175 jets for operation by Horizon Air, and secured options for an additional 13 jets. SalamAir also confirmed orders for six E195-E2s, while Binter ordered an additional five E195-E2 jets. Additionally, 21 aircraft were sold to undisclosed customers, for a total of 60 commercial aircraft orders in 2022. The year also saw the start of E190 and E195 commercial aircraft conversion programs to E190F and E195F freighters. Finally, during 2022 Embraer received type certification for the E190-E2 jet from CAAC, the Civil Aviation Administration of China.
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
Comments