Embraer registers first quarterly profit since 2018
Embraer’s Q2 2021 results display an increase in revenue and deliveries, shining a light at the end of the tunnel for the Brazilian manufacturer.
According to the report, the company increased its revenue to $1.1 billion from $0.8 billion in Q1 2021. Its operating profit before financial income (EBIT) was $143.8 million, a large step over the Q1 loss of $33.1 million.
Embraer’s financial report states that this is the first time the company has generated a quarterly profit since Q1 2018.
14 commercial and 20 executive jets were delivered by Embraer this quarter, more than in Q1 (9 commercial and 13 executive), but still far-cry from the pre-pandemic delivery levels. Deliveries of commercial aircraft constituted the largest part of the company's revenue, as well as the largest increase in revenue since Q1.
7 E175 and 7 E195-E2 commercial jets were delivered. Of the executive aircraft, the majority of the deliveries fell on light jets.
The company also reported the largest backlog ($15.9 billion) since the start of the pandemic, having firm orders for 306 commercial jets, most of them – E195-E2 and E175s.
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