SÃO PAULO, May 7, 2024 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its first Quarter 2024 Earnings Results.
HIGHLIGHTS
- 2024 Guidance reiterated: Management believes current estimates are still valid and represent evenly balanced risks and opportunities for full year operations. Commercial Aviation deliveries between 72 and 80 aircraft, and Executive Aviation deliveries between 125 and 135. Total company revenues in the US$6.0-6.4 billion range, Adjusted EBIT margin between 6.5% and 7.5%, and Adjusted free cash flow of US$220 million or higher.
- Embraer delivered 25 jets in 1Q24 of which 18 were executive jets (11 light and 7 medium) and 7 were commercial jets – an increase of +67% compared to the 15 aircraft delivered in 1Q23.
- Firm order backlogofUS$21.1 billion in 1Q24 – the highest level over the past 7 years. Commercial Aviation registered an increase of US$2.3 billion (+26% qoq). For more information please see our 1Q24 Backlog and Deliveries release.
- Revenues totaled US$897 million in the quarter or an increase of +25% yoy. Executive Aviation stood out with 2.75x growth – the highest 1Q revenues and number of deliveries over the past 8 years.
- Adjusted EBIT reached US$6.8 million with an +0.8% margin in 1Q24 (-4.4% in 1Q23).
- Adjustedfree cash floww/o Eve in 1Q24 was negativeUS$(346) million because of the preparation for higher number of deliveries in the coming quarters.
- Liability management with further US$276 million reduction in gross debt w/o Eve during the quarter.
For additional information, please check the full document on our website ri.embraer.com.br
Investor Relations
Guilherme Paiva, CFA, Patrícia Mc Knight, Viviane Pinheiro, Eliane Fanis, Marilia Saback and Marcelo Cuperman.
(+55 11) 3040-6874
investor.relations@embraer.com.br
ri.embraer.com.br
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 1Q24 Results on:
Tuesday, May 7, 2024
ENGLISH:8:00 AM (NY Time) / 9:00 AM (SP Time).
Simultaneous translation into Portuguese.
To access the webcast click here.
Zoom webinar: 818 3897 0765
Or alternatively to participate by phone call:
U.S.: +1(305)224-1968, +1(309)205-3325, +1(646)931-3860
Brazil: +55(11)4632-2236, +55(11)4632-2237, +55(21)3958-7888
Password: 818 3897 0765
We recommend you join 15 minutes in advance.
View original content:https://www.prnewswire.com/news-releases/embraer-earnings-results-1st-quarter-2024-302138155.html
SOURCE Embraer S.A.
