Embarer delivered its 1,500th business jet, a Phenom 300E, on September 3.Embraer
Key Takeaways:
Embraer anticipates 2021 will be its first profitable year since 2017, despite a third-quarter loss, driven by improved sales in both business and commercial aviation sectors.
The company projects a positive free cash flow and a strong year-end cash position, along with a $16.8 billion backlog, contributing to a 6 percent rise in share price.
Key operational highlights include a major order for E175s from SkyWest Airlines, the delivery of Embraer's 1,500th business jet, and significant military aircraft deliveries to the Nigeria Air Force.
In its third-quarter earnings call Friday, Embraer said that despite posting a loss for the quarter, it expects 2021 to be the company’s first profitable year since 2017, beating its own expectations.
The $45 million, third-quarter loss the company reported is a stark improvement year-to-date, compared to the $121 million loss reported for the third quarter of 2020.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
