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Embraer's quarterly adjusted net income reached $39.4 million,
recovering from the $78.5 million net loss seen in the previous
quarter, driven by its product mix and price hikes, according to
a securities filing.
The company stuck to its previously announced full-year
forecasts, with revenue seen reaching between $4.5 billion and
$5 billion and deliveries projected at 100 to 110 executive jets
and 60 to 70 commercial jets.
Quarterly revenue came in at $1.02 billion, also down roughly
10% amid lower deliveries in its Commercial and Defense &
Security units, which were partially offset by higher revenues
in Services & Support.
Embraer, the world's No. 3 planemaker behind Boeing Co and
Airbus SE, also highlighted a 102% free cash flow improvement to
$91.2 million, citing the divestment from its Evora facilities
in Portugal and the initial public offering of its electric
aircraft unit Eve Holding Inc.
Embraer had already reported that second-quarter deliveries
totaled 32 jets, including 11 commercial aircraft and 21
executive jets - falling just shy of the 34 jets delivered in
the same period last year but gaining pace after a lukewarm
first quarter.
The company initially filed results in Brazilian reais before
reporting its earnings in U.S. dollars.
($1 = 5.2835 reais)
(Reporting by Gabriel Araujo Editing by Steven Grattan and Mark
Potter)
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