EMBRAER EARNINGS RESULTS 3rd QUARTER 2024

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Nov 08, 2024, 06:06 ET

SÃO PAULO, Nov. 8, 2024 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) RELEASES ITS THIRD QUARTER 2024 EARNINGS RESULTS.

HIGHLIGHTS

2024 Guidance updated: Management believes prior guidance no longer represents evenly balanced opportunities and risks for full-year operations. From an operations point of view, we estimate Commercial Aviation deliveries between 70 and 73 aircraft (down from 72 and 80), and Executive Aviation deliveries between 125 and 135 (unchanged). From a finance point of view, we forecast Revenues in the US$6.0-6.4 billion range (unchanged), Adjusted EBIT margin between 9.0% and 10.0% (up from 6.5% and 7.5%), and Adjusted Free Cash Flow of US$300 million or higher (up from US$220 million or higher).
Fitch Ratings upgraded our credit rating from "BB+" to "BBB-" with a stable outlook in late September. Consequently, both S&P and Fitch currently rate the company Investment Grade (IG). Moody's rating remains Ba1 (i.e. one-notch below IG) but it recently revised the company's outlook to positive.
Embraer delivered 59 jets in 3Q24 of which 41 were executive jets (22 light and 19 medium), 16 were commercial jets and 2 multi-mission C-390 Millennium in Defense & Security; +26% versus the 47 aircraft delivered quarter over quarter (qoq) and +37% versus the 43 aircraft delivered year over year (yoy).
Firm order backlog of US$22.7 billion in 3Q24 – a new record, at a 9-year high level, more than 25% higher yoy and almost 10% higher qoq. For more information please see our 3Q24 Backlog and Deliveries release.
Revenues totaled US$1,692 million in the period; +32% yoy. Highlight for Executive Aviation and Defense & Security revenues +65% yoy growth each.
Adjusted EBIT reached US$297.5 million with a 17.6% margin in 3Q24 (US$147.5 million and 8.7% ex-Boeing arbitration; US$100.1 million and 7.8% in 3Q23).
Adjusted free cash flow w/o Eve was US$241.1 million during the quarter because of higher number of aircraft delivered.

For additional information, please check the full document on our website ri.embraer.com.br

INVESTOR RELATIONS
Guilherme Paiva, Patrícia Mc Knight, Viviane Pinheiro, Eliane Fanis, Marilia Saback and Marcelo Cuperman.
(+55 12)3927-6017
[email protected]
ri.embraer.com.br

CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 3Q24 Results on:

Thursday, Nov 8, 2024
ENGLISH: 7:00 AM (NY Time) / 9:00 AM (SP Time).
Translation to Portuguese.

To access the webcast click here.

Zoom webinar: 828 3217 1969

Or alternatively to participate by phone call:
U.S.: +1(929)205-6099, +1(253)205-0468
Brazil: +55(11)4632-2237, +55(11)4680-6788

We recommend you join 15 minutes in advance.

SOURCE Embraer S.A.