EMBRAER EARNINGS RESULTS 2nd QUARTER 2024

Rhea-AI Summary

Embraer (NYSE: ERJ; B3: EMBR3) reported its second-quarter results for 2024. Key highlights include the delivery of 47 jets, marking an 88% increase from 1Q24. Deliveries comprised 27 executive jets, 19 commercial jets, and 1 multi-mission C-390 Millennium. The firm order backlog reached $21.1 billion, a 7-year high, up over 20% annually.

Revenues totaled $1.494 billion, up 67% qoq, with commercial aviation revenues rising by 176%. Adjusted EBIT was $138.8 million with a 9.3% margin, improving from $6.8 million (0.8%) in 1Q24. However, adjusted free cash flow was negative at $(215) million due to working capital needs.

The company reiterated its 2024 guidance, expecting commercial aviation deliveries of 72-80 aircraft and executive aviation deliveries of 125-135. Total revenues are forecasted between $6.0-6.4 billion with an adjusted EBIT margin of 6.5%-7.5%, and adjusted free cash flow of $220 million or higher.

Positive

• 88% increase in jet deliveries from 1Q24 to 2Q24.
• Firm order backlog of $21.1 billion, a 7-year high.
• 67% qoq revenue increase, totaling $1.494 billion.
• 176% growth in commercial aviation revenues.
• Adjusted EBIT of $138.8 million with a 9.3% margin.

Negative

• Adjusted free cash flow of $(215) million due to working capital needs.

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

HIGHLIGHTS

• Embraer delivered 47 jets in 2Q24 of which 27 were executive jets (20 light and 7 medium), 19 were commercial jets and 1 multi-mission C-390 Millennium in Defense – an increase of 88% compared to the 25 aircraft delivered in 1Q24.
• Firm order backlog of US$21.1 billion in 2Q24 – a 7-year high, up more than 20% annually. For more information please see our 2Q24 Backlog and Deliveries release.
• Revenues totaled US$1,494 million in the period or an increase of 67% compared to the previous quarter (qoq). Highlight for Commercial Aviation revenues with 176% growth.
• Adjusted EBIT reached US$138.8 million with a 9.3% margin in 2Q24 (US$6.8 million and 0.8% in 1Q24). 
• Adjusted free cash flow w/o Eve in 2Q24 was negative US$(215) million because of working capital needs to support higher number of deliveries in the second half of 2024.
• 2024 Guidance reiterated: Management believes current estimates are valid and represent evenly balanced opportunities and risks for full year operations. Commercial Aviation deliveries between 72 and 80 aircraft, and Executive Aviation deliveries between 125 and 135. Total company revenues in the US$6.0-6.4 billion range, Adjusted EBIT margin between 6.5% and 7.5%, and Adjusted free cash flow of US$220 million or higher.

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 11)3040-6874
investor.relations@embraer.com.br
ri.embraer.com.br

CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 2Q24 Results on:

Thursday, Aug 8, 2024
ENGLISH: 8:00 AM (NY Time) / 9:00 AM (SP Time).
Simultaneous translation to Portuguese.

To access the webcast click here.

Zoom webinar: 829 8775 0865

Or alternatively to participate by phone call:
U.S.:     +1(305)224-1968, +1(309)205-3325
Brazil:   +55(11)4632-2236, +55(11)4632-2237
Password: 829 8775 0865

We recommend you join 15 minutes in advance. 

 

View original content:https://www.prnewswire.com/news-releases/embraer-earnings-results-2nd-quarter-2024-302217970.html

SOURCE Embraer S.A.

FAQ

What were Embraer's 2Q24 earnings results?

Embraer reported revenues of $1.494 billion, an adjusted EBIT of $138.8 million with a 9.3% margin, and a negative adjusted free cash flow of $(215) million.

How many jets did Embraer deliver in 2Q24?

Embraer delivered 47 jets in 2Q24, including 27 executive jets, 19 commercial jets, and 1 multi-mission C-390 Millennium.

What is Embraer's order backlog as of 2Q24?

Embraer's order backlog reached $21.1 billion in 2Q24, marking a 7-year high.

What is Embraer's revenue growth in commercial aviation for 2Q24?

Embraer's commercial aviation revenues grew by 176% in 2Q24.

What is Embraer's 2024 guidance?

Embraer expects commercial aviation deliveries of 72-80 aircraft, executive aviation deliveries of 125-135, total revenues between $6.0-6.4 billion, an adjusted EBIT margin of 6.5%-7.5%, and adjusted free cash flow of $220 million or higher.