Embraer Reports Record 2024 Revenue, Deliveries

DALLAS — Embraer (ERJ) posted revenue of US$6.4 billion in 2024, a 21% year-over-year increase. The company delivered 206 aircraft, 14% more than in 2023, and recorded an adjusted EBIT margin of 11.1% and US$675.6 million in free cash flow.

ERJ's firm order backlog accelerated to US$26.3 billion, a sound market position in commercial aviation and other jets markets.

"Our 2024 performance demonstrates strong demand, operational excellence, and discipline," said ERJ President and CEO Francisco Gomes Neto. The backlog, “combined with investment-grade credit ratings, puts us in position for long-term growth."

In 2025, ERJ is expected to deliver 77-85 commercial aircraft and 145-155 executive jets, with estimated revenue between US$7.0 and US$7.5 billion.

Commercial Aviation: E2 Jets Lead Growth

In 2024, ERJ delivered 73 commercial aircraft, 47 of which were next-generation E2 jets and 26 of which were first-generation E1 jets. The E2 family now accounts for 64% of commercial deliveries, up from 50% in 2023.

The E2 family's efficiency, lower emissions, and range have driven strong global demand. Thus, the ERJ commercial aircraft backlog is healthy and contributes to a record US$26.3 billion order book.

ERJ has projected 77-85 commercial aircraft deliveries in 2025, representing a 5-16% growth over 2024.

Financial Performance: Profitability, Cash Flow, Investment Grade Rating

ERJ's 2024 adjusted EBIT was US$708.2 million, with a margin of 11.1%, which was above guidance. Adjusted EBIT, excluding Boeing-related arbitration, was US$558.2 million (8.7% margin).

The company produced US$ 675.6 million of free cash flow, aided by:

• Higher aircraft deliveries
• Solid sales performance and pre-delivery payments (PDPs)
• A successful Boeing arbitration outcome

ERJ reduced its net debt-to-EBITDA ratio to 0.1x (from 1.4x in 2023), improving financial flexibility. Moody's upgraded ERJ's credit rating to Baa3 (investment grade), following S&P and Fitch, reflecting lower borrowing costs and increased investor confidence.

"Reaching investment-grade status for all three U.S. rating agencies is an achievement for Embraer," said CFO Antonio Carlos Garcia. "This will allow for more competitive financing to our customers and investments in future growth.

Guidance for 2025: Sustainable Growth Ahead

For 2025, ERJ has set the following targets:

• 77-85 commercial aircraft deliveries
• 145-155 executive jet deliveries
• US$7.0-7.5 billion in total revenue
• Adjusted EBIT margin between 7.5% and 8.3%
•  At least US$200 million in free cash flow

Although EBIT margins will likely decrease slightly from 2024 levels, ERJ concentrates on supply chain management, operational efficiency, and production scalability.

"WE also look to drive continued expansion in 2025 with a strong backlog, E2 jet penetration gains, and firm demand from across our businesses," Neto added.

Order Backlog Reaches Record US$26.3 Billion

ERJ’s backlog reached US$26.3 billion, up 40% year over year, ensuring four years of production visibility and financial stability. Commercial Aviation: High demand for E2 jets

With a strong order book and improving profitability, ERJ is well-positioned for continued growth in 2025.

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