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.
Highlights for the quarter included the delivery of 30 executive jets and 17 commercial aircraft. The total was 47 percent higher than in the same period last year. The company said its order backlog remained stable at a value of $17.3 million.
Embraer’s commercial aircraft operations reported revenue growth of 57 percent to $471.9 million compared with last year’s second quarter. American Airlines signed an order for seven of Embraer’s E175 jets for its Envoy Air subsidiary. Those deliveries are expected to begin in the fourth quarter.
Revenue for the executive aviation business rose 42 percent to $378 million, helped by the delivery of 19 light and 11 midsize jets, compared with 12 light and nine midsize deliveries during the 2022 second quarter.
Revenue rose 8 percent for Embraer’s service and support business to a total of $339.7 million. The defense and security operation posted revenue of $82.4 million, or a decrease of 28 percent, that the company attributed to some of its expected revenue being delayed.
