Embraer (NYSE: ERJ) on Thursday reported that a planned January shutdown of its production to accommodate its commercial aviation segment’s system and legal reintegration caused lower revenue in the first quarter this year.
The company took in $600.9 million in revenue during Q1. That’s a 26 percent reduction in business activity compared to the same quarter last year amid a surge in business jet travel. Even with that slowdown, the company said it ended this quarter with a $17.3 billion firm-order backlog, the highest for the company since the second quarter of 2018.
