Embraer has reported a second quarter adjusted net income of $43.6 million or $0.24 per ADS share on a year-over-year increase in revenue of 110 percent to $1.13 billion. The company ended the quarter with $2.5 billion in cash and a net debt of $1.8 billion.
On Friday (August 13, 2021), Embraer reported their second quarter financial results for the period ending June 30, 2021. The company reported an adjusted net income of $43.6 million or $0.24 per ADS share, their first profit since the second quarter of 2018. Second quarter revenue increased year-over-year by 110.4 percent to 1.13 billion. On June 30, 2021, Embraer has $2.5 billion in cash and a net debt of $1.8 billion. During the second quarter, the company delivered 14 commercial jets and 20 executive jets, including 12 light and 8 large aircraft, bringing their year-to-date deliveries to 23 commercial and 33 executive jets. Embraer closed the quarter with a firm order backlog valued at $15.9 billion.
The 14 commercial aircraft delivered by Embraer during the second quarter included seven Embraer E175s and seven E195-E2s. During the quarter, Canadian carrier Porter Airlines ordered 30 new E195-E2s, with purchase rights for an additional 50 aircraft, in a deal valued at $5.82 billion at list prices. Porter will become the North American launch customer for the E2 and plans on deploying the aircraft to popular business and leisure destinations throughout Canada, the U.S., Mexico and the Caribbean. Porter expects their first E195-E2 delivery during the second half of 2022 and will operate the new fleet from Ottawa, Montreal, Halifax and Toronto Pearson International Airport.
Embraer also received 18 firm orders for E175 jets during the quarter including nine from Horizon Air and nine from SkyWest, which will be operated by Alaska Airlines under a Capacity Purchase Agreement (CPA). The aircraft will be delivered in Alaska Airlines’ livery in a 76-seat three class layout starting in 2022. Based on current list prices, the order is valued at $848.3 million. Additionally, Swiss regional carrier Helvetic Airways received their first E195-E2 during the second quarter, becoming the first operator of both E190-E2 and E195-E2 jets in the world.
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