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 significantly improved its second-quarter financial performance, reducing its net loss to $18.8 million and increasing total revenue by 27% to $1.29 billion.
Total aircraft deliveries surged by 47% year-over-year, with 30 executive jets and 17 commercial aircraft delivered during the quarter.
Commercial aircraft operations experienced 57% revenue growth, including an order from American Airlines for seven E175 jets, while executive aviation revenue rose 42%.

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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.