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Embraer Reports Q4 Net Income of $2.1 Million, Full Year 2021 Net Loss of $44.7 Million

Embraer has reported a fourth quarter 2021 net income of $2.1 million or $0.0114 per ADS basic share on revenue of $1.3 billion. For FY 2021, the company reported a net loss of $44.7 million or ($0.2434) per ADS basic share on an 11 percent increase in revenue of $4.2 billion.

Embraer Reports Fourth Quarter and Full Year 2021 Financial Results - Courtesy Embraer

On Wednesday (March 9, 2021), Embraer reported their financial results for the fourth quarter and full year 2021 for the period ending December 31, 2021. For the fourth quarter, the company reported a net income of $2.1 million or $0.0114 per basic ADS share on revenue of $1.3 billion, down from $1.84 billion during Q4 2020. For the full year 2021, Embraer reported a net loss of $44.7 million or ($0.2434) per basic ADS share on an 11 percent year-over-year increase in revenue to $4.2 billion. At December 31, 2021, the company had $2.63 billion in cash, cash equivalents and financial investments and a net debt position of $1.4 billion, down year-over-year from $1.7 billion.

During the fourth quarter, Embraer delivered a total of 55 jets including 16 commercial and 39 executive (26 light and 13 mid-size) jets. For the full year 2021, the company delivered 141 jets including 48 commercial and 93 executive (62 light and 31 mid-size) jets. Embraer ended the year with a firm order backlog valued at $17.0 billion, the highest backlog since the second quarter of 2018. The order backlog is composed of $9.0 billion in Commercial Aviation (53%), $2.9 billion in Executive Aviation (17%), $2.7 billion in Defense & Security (16%) and $2.4 billion (14%) in Services and Support. Excluding Eve, Embraer’s 2022 guidance calls for 60-70 commercial jet deliveries along with 100-110 executive jet deliveries, and a revenue range of $4.5-5.0 billion.

In December 2021, Azorra signed an agreement with Embraer for the acquisition of 20 new E2 Family aircraft and 30 additional flexible purchase rights for E190-E2 or E195-E2 aircraft, in an order valued at $3.9 billion. Deliveries are expected to begin in early 2023. At the Dubai Airshow, the company also announced a form order for three new E175s plus three purchase rights from Nigeria’s Overland Airways from 2023. If all options are exercised, the deal is valued at $300 million at list prices.

Embraer's Fourth Quarter and Full Year 2021 Financial results, Deliveries and Order Backlog - Courtesy Embraer

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


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