Embraer Reports Strong Growth in Q2 Revenue, Deliveries

The Brazilian aerospace company said commercial and executive jet businesses have performed especially well.

Jonathan Welsh

Tuesday, August 15, 2023 at 04:25 PM ET

Verified

Embraer's Phenom 300 is a popular light jet. [Credit: Shutterstock]

Key Takeaways:

Embraer reported significantly improved second-quarter financial results, reducing its net loss to $18.8 million and increasing overall revenue by 27% to $1.29 billion.
The company saw a 47% increase in total aircraft deliveries compared to the previous year, including 30 executive jets and 17 commercial aircraft.
Commercial aircraft operations and executive aviation businesses experienced substantial revenue growth of 57% and 42% respectively, contributing to a stable order backlog of $17.3 million.

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Embraer reported improved second-quarter results that included significant increases in revenue and both commercial and business jet deliveries.

The company, based in São Paulo, Brazil, posted a net loss of $18.8 million, or 10 cents per share, compared with a loss of $146.4 million, or 80 cents per share, during last year’s second quarter. Revenue for the quarter rose 27 percent to $1.29 billion from $1.02 billion.