Embraer (EMBR3) presented an adjusted net loss of R$63.5 million in the first quarter of 2024 (1QR24), a significant reduction of 86.2% compared to the loss of R$460.5 million recorded in the same period of the previous year.
In the period from January to March, considering the profit attributed to shareholders, Embraer (EMBR3) recorded a profit of R$142.7 million, compared to the profit of R$943.6 million in the first quarter of 2023.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) reached R$233.7 million in the first quarter, representing an increase compared to the R$53.9 million recorded in the same period of the previous year. Adjusted EBITDA margin was 5.3% this quarter, compared to 1.4% a year ago.
Embraer (EMBR3)
Embraer delivered a total of 25 jets in the first quarter, highlighting the performance in Executive Aviation, which was the best in the last 8 years, more than doubling compared to the same period of the previous year.
Embraer’s net revenue in the first quarter of 2024 was R$4.448 billion, an increase of 19% compared to the R$3.726 billion recorded in 1Q23. The significant growth in Executive Aviation stands out, which was 2.6 times during the period.
Projections
Embraer’s projections for 2024 include between 72 and 80 deliveries of commercial aviation aircraft and between 125 and 135 deliveries of executive aviation aircraft. The company’s total revenue is expected to be between $6 and $6.4 million, with an adjusted EBIT margin between 6.5% and 7.5%, and adjusted free cash flow of $220 million or more to the year.
In the market, Embraer shares (EMBR3) show an increase of 2.99% in the month and 53.41% in the year.
The company
The company is a Brazilian aeronautics and defense company. Founded in 1969, Embraer is one of the largest aircraft manufacturers in the world, with special emphasis on the production of commercial, executive, agricultural and military jets. Its headquarters are located in São José dos Campos, in the state of São Paulo, Brazil.
The company is internationally recognized for the quality and innovation of its aircraft, being a leader in the segment of commercial jets with up to 150 seats. In addition, Embraer also operates in the development and manufacture of defense systems, including military aircraft, monitoring systems and integration of defense technologies.
