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

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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.
Total commercial and business jet deliveries rose 47% year-over-year, contributing to strong revenue growth in both commercial aircraft (up 57%) and executive aviation (up 42%).
The company's service and support business also saw an 8% revenue increase, while its order backlog remained stable at $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.