Embraer increased deliveries 88% quarter on quarter in 2Q24 and backlog totaled US$21.1bn - a 7-year high
Rhea-AI Summary
Embraer (NYSE: ERJ) reported strong performance in Q2 2024, with total deliveries increasing 88% quarter-on-quarter to 47 jets. The company's backlog reached a 7-year high of $21.1 billion, up more than 20% year-over-year. Commercial Aviation led growth with a 170% increase in deliveries compared to Q1. Executive Jets also showed solid performance, delivering 27 aircraft.
Key highlights include:
- Commercial Aviation backlog of $11.3 billion, boosted by a 20 E2 jet order from Mexicana de Aviación
- Delivery of the 1,800th E-Jet
- Executive Jets maintaining a positive book-to-bill ratio
- Delivery of the 2nd C-390 Millennium to the Portuguese Air Force
Embraer's 2024 guidance remains at 197-215 total deliveries across all segments.
Positive
- Total deliveries increased 88% quarter-on-quarter to 47 jets in Q2 2024
- Company-wide backlog reached $21.1 billion, up more than 20% year-over-year
- Commercial Aviation deliveries grew by 170% compared to Q1 2024
- Secured a 20 E2 jet order from Mexicana de Aviación
- Executive Jets maintained a positive book-to-bill ratio
- Delivered the 1,800th E-Jet, a significant milestone for the company
Negative
- Defense & Security backlog decreased by 10% quarter-on-quarter to $2.1 billion
News Market Reaction – ERJ
In the trading session that priced this news, ERJ gained 1.57%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Commercial deliveries soared circa
170% sequentially while Executive Jets grew50% US company wide backlog up more than$21.1 b n20% annually- 20 E2 jets order from Mexicana de Aviación
- 2nd C-390 Millennium aircraft delivered to
Portugal
SÃO PAULO, July 18, 2024 /PRNewswire/ -- Embraer (NYSE: ERJ; B3: EMBR3) delivered 47 jets in 2Q24, an
Deliveries by Segment | 2Q24 | 1Q24 | 2Q23 | 1H24 | 1H23 | 2024 Guidance |
Executive Aviation | 27 | 18 | 30 | 45 | 38 | 125-135 |
Phenom 100 | 2 | 1 | 1 | 3 | 3 | |
Phenom 300 | 18 | 10 | 18 | 28 | 22 | |
Light Jets | 20 | 11 | 19 | 31 | 25 | |
Praetor 500 | 3 | 3 | 6 | 6 | 6 | |
Praetor 600 | 4 | 4 | 5 | 8 | 7 | |
Medium Jets | 7 | 7 | 11 | 14 | 13 | |
Commercial Aviation | 19 | 7 | 17 | 26 | 24 | 72-80 |
E195-E2 | 7 | 4 | 7 | 11 | 12 | |
E190-E2 | 4 | - | - | 4 | - | |
E175 | 8 | 3 | 10 | 11 | 12 | |
Total | 46 | 25 | 47 | 71 | 62 | 197-215* |
Defense & Security | 1 | - | 1 | 1 | 1 | |
C-390 Millennium | 1 | - | 1 | 1 | 1 |
The company wide backlog reached
Backlog by Segment - US$bn | 2Q24 | 1Q24 | qoq | 2Q23 | yoy |
Commercial Aviation | 11.3 | 11.1 | 2 % | 8.0 | 40 % |
Executive Jets | 4.6 | 4.6 | 1 % | 4.3 | 8 % |
Services & Support | 3.1 | 3.1 | 0 % | 2.7 | 16 % |
Defense & Security | 2.1 | 2.4 | -10 % | 2.3 | -5 % |
Total | 21.1 | 21.1 | 0 % | 17.3 | 22 % |
In Commercial Aviation, the backlog reached
2Q24 Backlog - Commercial Aviation | |||
Aircraft Type | Firm Orders | Deliveries | Firm Order Backlog |
E195-E2 | 282 | 100 | 182 |
E190-E2 | 44 | 23 | 21 |
E175 | 943 | 764 | 179 |
Total | 1,269 | 887 | 382 |
Executive Jets continued to seize great sales momentum in both fleet and retail markets, demonstrating solid delivery performance and maintaining a positive book-to-bill ratio. The backlog ended the period marginally up at
The Services & Support unit continues to be one of the main drivers of Embraer's growth through a combination of operational excellence, customer experience and innovative solutions. Its backlog ended 2Q24 roughly unchanged at
In Defense & Security, the highlight was the delivery of the 2nd C-390 Millennium to the Portuguese Air Force (FAP), in a ceremony held in Gavião Peixoto (SP),
Commercial Aviation aircraft backlog:
Customer (Country) | Firm Orders | Delivered | Firm Order Backlog |
Embraer 195-E2 | 282 | 100 | 182 |
Azul ( | 51 | - | 51 |
Porter ( | 75 | 36 | 39 |
Aercap ( | 45 | 19 | 26 |
Azorra ( | 23 | 5 | 18 |
Mexicana ( | 10 | - | 10 |
Aircastle ( | 23 | 14 | 9 |
Air Peace ( | 13 | 5 | 8 |
Binter Canarias ( | 16 | 10 | 6 |
Salam Air ( | 6 | - | 6 |
Luxair (Luxembourg) | 4 | - | 4 |
ICBC ( | 10 | 7 | 3 |
Royal Jordanian (Jordanian) | 2 | - | 2 |
Helvetic ( | 4 | 4 | - |
Customer (Country) | Firm Orders | Delivered | Firm Order Backlog |
Embraer 190-E2 | 44 | 23 | 21 |
Mexicana ( | 10 | - | 10 |
Azorra ( | 12 | 4 | 8 |
Aircastle ( | 2 | - | 2 |
Air | 2 | 1 | 1 |
Aercap ( | 5 | 5 | - |
Helvetic ( | 8 | 8 | - |
Wideroe ( | 3 | 3 | - |
Placar Linhas Aéreas ( | 1 | 1 | - |
Undisclosed | 1 | 1 | - |
Customer (Country) | Firm Orders | Delivered | Firm Order Backlog |
EMBRAER 175 | 943 | 764 | 179 |
American Airlines ( | 204 | 108 | 96 |
Republic Airlines ( | 187 | 141 | 46 |
Skywest ( | 228 | 207 | 21 |
Horizon Air / | 50 | 44 | 6 |
Air Peace ( | 5 | - | 5 |
Undisclosed | 4 | - | 4 |
Overland Airways ( | 3 | 2 | 1 |
Air Canada ( | 15 | 15 | - |
Air Lease ( | 8 | 8 | - |
Alitalia ( | 2 | 2 | - |
Belavia ( | 1 | 1 | - |
CIT ( | 4 | 4 | - |
ECC Leasing ( | 1 | 1 | - |
Flybe ( | 11 | 11 | - |
Fuji Dream ( | 2 | 2 | - |
GECAS ( | 5 | 5 | - |
KLM ( | 17 | 17 | - |
LOT Polish ( | 12 | 12 | - |
Mauritania Airlines ( | 2 | 2 | - |
Mesa ( | 7 | 7 | - |
NAC / Aldus ( | 2 | 2 | - |
NAC / Jetscape ( | 4 | 4 | - |
Northwest ( | 36 | 36 | - |
Oman Air ( | 5 | 5 | - |
Royal Jordanian ( | 2 | 2 | - |
Suzuyo ( | 11 | 11 | - |
TRIP ( | 5 | 5 | - |
United Airlines ( | 110 | 110 | - |
* Aircraft delivered by ECC Leasing: one to Air Caraibes |
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SOURCE Embraer S.A.