aviation-Embraer Updates 2024 Guidance and Posts Positive Q3 Results – Aviation.Direct

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Embraer has revised its 2024 forecast and now expects to deliver 70 to 73 aircraft in the commercial aviation sector. According to the current forecast, these are 72 to 80 aircraft.

However, deliveries of business jets are still estimated at 125 to 135 units. Despite these adjustments, revenue guidance remains unchanged at $6.0 billion to $6.4 billion. The company also expects an adjusted EBIT margin of between 9.0 and 10.0% and free cash flow of at least $300 million.

In the third quarter of 2024, Embraer delivered 59 aircraft, including 41 business jets, 16 commercial aircraft and two multi-role defense aircraft. This represents an increase of 26% compared to the previous quarter and an increase of 37% compared to the same period last year. The order backlog reached a new record of $22.7 billion.

Executive Aviation and Defense & Security companies each reported 65% year-over-year revenue growth. EBIT was $297.5 million, with a margin of 17.6%. Additionally, Embraer’s credit rating was upgraded to ‘BBB-‘ by Fitch Ratings, which now positions the company in the investment grade range with a stable outlook.

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