Embraer Announces Strong 2Q24 financial Results

During an online press conference hosted by its CEO, Francisco Gomes Neto, Embraer announced its growing results and sales. Worth US$21.1 billion, the third-largest jet manufacturer’s backlog is the highest over the past seven years.

In the second quarter of 2024, Embraer delivered 47 jets, divided between 27 executive units, 19 commercial jets, and one C-390 Millennium. The commercial aviation guidance for 2024 ranges between 72 and 80 jets. Embraer's revenue was carried by commercial aviation, totaling US $1,494 million, up 67% over the previous quarter and up 16% over the second quarter of 2023.

The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased from US$149 million in 2Q23 to US$190 million in 2Q24. The company’s cash flow remained negative in 2Q24 due to the capital needed to support deliveries in the second half of the year. The company’s net debt has also reduced from US$1,459 million to US$1,307 million year-on-year.

Farnborough Recap

At the 2024 Farnborough Airshow, the company received orders for nine C-390 Millennium and six A-29 Super Tucano. While no commercial aviation order was announced, Arjan Meijer stated that the company is in talks with different airlines for around 300 E1s and E2s. Embraer announced some improvements in passengers’ experience and efficiency to its E175 and E2s families, which included seat options, cabin lights, one additional seat row, and more.

During today’s press conference, Francisco Gomes Neto said the company expects to announce new orders in the third quarter of the year and remains confident about its E-Jets.

At the airshow, the company announced the certification of its E190F by the National Civil Aviation Agency of Brazil (ANAC). The press conference also emphasized EVE Air Mobility's momentum. At Farnborough, the urban air mobility company showcased its first full-scale prototype.