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Embraer Reports Second Quarter 2023 Net Loss of $18.8 Million or $0.10 per Basic ADS Share

Embraer has reported a second quarter 2023 net loss of $18.8 million or ($0.1024) per basic ADS share on a year-over-year increase in revenue of 27 percent to $1.29 billion. The company ended the quarter with a firm order backlog valued at $17.3 billion.

Embraer Reports Second Quarter 2023 Financial Results - Courtesy Embraer

On Monday (August 14, 2023), Embraer reported their second quarter financial results for the period ending June 30, 2023. The company reports a second quarter net loss of $18.8 million or ($0.1024) on a 27 percent year-over-year increase in revenue to $1.292 billion. During the second quarter, Embraer delivered 47 jets, including 17 commercial aircraft and 30 executive jets (19 light and 11 mid-size). At the close of the quarter, the company had a firm order backlog valued at $17.3 billion. At June 30, 2023, Embraer’s net debt position was $1.46 billion (excluding EVE), down from $1.53 billion at the end of Q2 2022.

During Q2, Embraer received a firm order from American Airlines for seven new E175s, which will be operated by their Envoy Air subsidiary. With the incremental order, Envoy’s fleet of E-Jets will grow to over 141 aircraft by the end of 2024. Embraer and aircraft lessor Azorra also announced a new agreement for eight aircraft with Royal Jordanian for four E190-E2s and four E195-E2s. Additionally, Singapore Airlines’ LCC subsidiary Scoop selected Embraer’s E190-E2 jet, and will add nine of the type to their fleet. SKS Airways has also chosen Embraer’s E195-E2 to boost their growth plans for the Asia-Pacific region from 2024. Finally, Binter placed an incremental firm order for six A195-E2 aircraft, expanding their fleet to 16 when delivered.

Embraer's Second 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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