EMBRAER EARNINGS RESULTS 3rd QUARTER 2024
Embraer (ERJ) reported strong Q3 2024 results with revenues of US$1,692 million, up 32% year-over-year. The company delivered 59 jets in Q3, representing a 37% increase YoY. The firm order backlog reached a 9-year high of US$22.7 billion, up 25% YoY. Management updated 2024 guidance, adjusting Commercial Aviation deliveries to 70-73 aircraft while maintaining Executive Aviation at 125-135 aircraft. The company raised its Adjusted EBIT margin guidance to 9.0-10.0% and Adjusted Free Cash Flow forecast to US$300 million or higher. Fitch Ratings upgraded Embraer to Investment Grade (BBB-) with a stable outlook.
Embraer (ERJ) ha riportato risultati solidi per il terzo trimestre del 2024, con ricavi di 1.692 milioni di dollari USA, in aumento del 32% rispetto all'anno precedente. L'azienda ha consegnato 59 jet nel terzo trimestre, con un aumento del 37% rispetto all'anno precedente. Il portafoglio ordini fermo ha raggiunto un massimo di 9 anni di 22,7 miliardi di dollari USA, in aumento del 25% anno su anno. La direzione ha aggiornato le previsioni per il 2024, modificando le consegne dell'Aviazione Commerciale a 70-73 aeromobili, mantenendo l'Aviazione Esecutiva a 125-135 aeromobili. L'azienda ha innalzato le sue previsioni per il margine EBIT rettificato a 9,0-10,0% e la previsione di flusso di cassa libero rettificato a 300 milioni di dollari USA o più. Fitch Ratings ha aggiornato Embraer a grado di investimento (BBB-) con un'outlook stabile.
Embraer (ERJ) reportó resultados sólidos para el tercer trimestre de 2024, con ingresos de 1,692 millones de dólares estadounidenses, un aumento del 32% en comparación con el año anterior. La empresa entregó 59 jets en el tercer trimestre, lo que representa un aumento del 37% interanual. El backlog de pedidos firmes alcanzó un máximo de 9 años de 22,7 mil millones de dólares estadounidenses, un incremento del 25% respecto al año anterior. La dirección actualizó las proyecciones para 2024, ajustando las entregas de Aviación Comercial a 70-73 aeronaves, manteniendo la Aviación Ejecutiva en 125-135 aeronaves. La compañía elevó su guía de margen EBIT ajustado a 9.0-10.0% y la previsión de flujo de caja libre ajustado a 300 millones de dólares estadounidenses o más. Fitch Ratings mejoró la calificación de Embraer a grado de inversión (BBB-) con una perspectiva estable.
엠브레어(ERJ)는 2024년 3분기 실적이 강력하다고 보고했습니다. 매출은 16억 9,200만 달러로, 전년 대비 32% 증가했습니다. 회사는 3분기에 59대의 항공기를 인도하며, 이는 전년 대비 37% 증가한 수치입니다. 확보된 주문 잔고는 9년 만에 최고치인 227억 달러에 도달했으며, 이는 전년 대비 25% 증가한 것입니다. 경영진은 2024년 비즈니스 전망을 업데이트하며 상업 항공기 인도 수량을 70-73대로 조정하고, 임원 항공기는 125-135대로 유지했습니다. 회사는 조정된 EBIT 마진 가이드를 9.0-10.0%로 높였고, 조정된 자유 현금 흐름 전망을 3억 달러 이상으로 상향 조정했습니다. Fitch Ratings는 엠브레어의 신용등급을 투자등급(BBB-)으로 상향 조정하며, 안정적인 전망을 유지했습니다.
Embraer (ERJ) a annoncé des résultats solides pour le troisième trimestre 2024, avec des revenus de 1,692 million de dollars américains, soit une augmentation de 32% par rapport à l'année précédente. L'entreprise a livré 59 jets au troisième trimestre, représentant une augmentation de 37% par rapport à l'année précédente. Le carnet de commandes ferme a atteint un niveau record de 9 ans de 22,7 milliards de dollars américains, en hausse de 25% d'une année sur l'autre. La direction a mis à jour ses prévisions pour 2024, ajustant les livraisons de l'aviation commerciale à 70-73 aéronefs tout en maintenant l'aviation exécutive à 125-135 aéronefs. L'entreprise a relevé ses prévisions de marge EBIT ajustée à 9,0-10,0% et ses prévisions de flux de trésorerie libre ajusté à 300 millions de dollars américains ou plus. Fitch Ratings a rehaussé la note d'Embraer à investissement (BBB-) avec des perspectives stables.
Embraer (ERJ) berichtete über starke Ergebnisse im dritten Quartal 2024 mit Umsätzen von 1.692 Millionen US-Dollar, was einem Anstieg von 32% im Vergleich zum Vorjahr entspricht. Das Unternehmen lieferte im dritten Quartal 59 Jets aus, was einen Anstieg von 37% im Jahresvergleich darstellt. Der Auftragsbestand erreichte mit 22,7 Milliarden US-Dollar einen 9-Jahres-Hochstand und stieg um 25% im Vergleich zum Vorjahr. Das Management aktualisierte die Prognosen für 2024 und passte die Lieferungen der kommerziellen Luftfahrt auf 70-73 Flugzeuge an, während die Geschäftsflugzeuge bei 125-135 Flugzeugen blieben. Das Unternehmen erhöhte seine Prognose für die angepasste EBIT-Marge auf 9,0-10,0% und die Schätzung für den freien Cashflow auf 300 Millionen US-Dollar oder mehr. Fitch Ratings stufte Embraer auf Anlagegrad (BBB-) mit stabiler Ausrichtung hoch.
- Revenue increased 32% YoY to US$1,692 million
- Record backlog of US$22.7 billion, up 25% YoY
- Aircraft deliveries up 37% YoY to 59 jets
- Adjusted EBIT margin guidance raised to 9.0-10.0%
- Free Cash Flow guidance increased to US$300 million
- Credit rating upgraded to Investment Grade by Fitch
- Commercial Aviation delivery guidance lowered from 72-80 to 70-73 aircraft
Insights
A strong quarter for Embraer with several positive developments.
The upgraded credit rating to Investment Grade by Fitch, alongside S&P's existing IG rating, reflects strengthening financial health. The adjusted EBIT margin guidance increase to
The
SÃO PAULO, Nov. 8, 2024 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) RELEASES ITS THIRD QUARTER 2024 EARNINGS RESULTS.
HIGHLIGHTS
- 2024 Guidance updated: Management believes prior guidance no longer represents evenly balanced opportunities and risks for full-year operations. From an operations point of view, we estimate Commercial Aviation deliveries between 70 and 73 aircraft (down from 72 and 80), and Executive Aviation deliveries between 125 and 135 (unchanged). From a finance point of view, we forecast Revenues in the
US range (unchanged), Adjusted EBIT margin between$6.0 -6.4 billion9.0% and10.0% (up from6.5% and7.5% ), and Adjusted Free Cash Flow ofUS or higher (up from$300 million US or higher).$220 million - Fitch Ratings upgraded our credit rating from "BB+" to "BBB-" with a stable outlook in late September. Consequently, both S&P and Fitch currently rate the company Investment Grade (IG). Moody's rating remains Ba1 (i.e. one-notch below IG) but it recently revised the company's outlook to positive.
- Embraer delivered 59 jets in 3Q24 of which 41 were executive jets (22 light and 19 medium), 16 were commercial jets and 2 multi-mission C-390 Millennium in Defense & Security; +
26% versus the 47 aircraft delivered quarter over quarter (qoq) and +37% versus the 43 aircraft delivered year over year (yoy). - Firm order backlog of
US in 3Q24 – a new record, at a 9-year high level, more than$22.7 billion 25% higher yoy and almost10% higher qoq. For more information please see our 3Q24 Backlog and Deliveries release. - Revenues totaled
US in the period; +$1,692 million 32% yoy. Highlight for Executive Aviation and Defense & Security revenues +65% yoy growth each. - Adjusted EBIT reached
US with a$297.5 million 17.6% margin in 3Q24 (US and$147.5 million 8.7% ex-Boeing arbitration;US and$100.1 million 7.8% in 3Q23). - Adjusted free cash flow w/o Eve was
US during the quarter because of higher number of aircraft delivered.$241.1 million
For additional information, please check the full document on our website ri.embraer.com.br
INVESTOR RELATIONS
Guilherme Paiva, Patrícia Mc Knight, Viviane Pinheiro, Eliane Fanis, Marilia Saback and Marcelo Cuperman.
(+55 12)3927-6017
investor.relations@embraer.com.br
ri.embraer.com.br
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 3Q24 Results on:
Thursday, Nov 8, 2024
ENGLISH: 7:00 AM (NY Time) / 9:00 AM (SP Time).
Translation to Portuguese.
To access the webcast click here.
Zoom webinar: 828 3217 1969
Or alternatively to participate by phone call:
We recommend you join 15 minutes in advance.
View original content:https://www.prnewswire.com/news-releases/embraer-earnings-results-3rd-quarter-2024-302299870.html
SOURCE Embraer S.A.
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