Embraer reported its second quarter results with adjusted net loss totalling $4.7 million, down from its net profit of $80.4 million a year prior.
Revenue totalled $1.8bn, up from $1.5bn a year prior. The company's adjusted EBITDA improved from $190.4 million in last year's second quarter to $245.5 million in this year's second quarter.
During the second quarter, the Brazilian manufacturer delivered 61 aircraft, of which 19 were commercial jets (10 E2s and nine E1s), 38 executive jets and four defence related jets. The company had delivered 47 aircraft in the same period last year. For the full year, it expects to deliver around 77 to 85 commercial jets and 145-155 executive aviation aircraft.
Additionally, Embraer expects consolidated revenues (excluding its eVTOL arm Eve) of around $7 to 7.5bn for the full year. Adjusted EBIT margin is expected to be 7.5 to 8.3%.
The company's commercial aviation revenues increased 4% to $577 million, though the adjusted EBIT margin was flat at a positive 4.3% year on year due to one-off items a year ago, such as tax credits.
The company generated an adjusted free cash flow, without Eve, of a negative $161.6 million as it prepares for a “higher number of aircraft deliveries” in the coming quarters.
As of the end of June, the company had a firm order backlog of $29.7bn.
