Embraer Reports Adj. Profit In Q2; Issues Guidance

(RTTNews) - Embraer (ERJ) recorded adjusted net profit in its second quarter of 2021, the company's first quarterly adjusted net profit since the first quarter of 2018. Revenues were up 110.4% year-over-year, with double digit growth in all segments.

The company delivered 14 commercial jets and 20 executive jets in the second quarter of 2021, bringing the year-to-date deliveries to 23 commercial jets and 33 executive jets.

Second quarter basic adjusted earnings per share was $0.23 compared to a loss of $1.08, last year. Excluding special items, adjusted EBIT was $104.7 million and yielding adjusted EBIT margin was 9.3%, for the quarter. Net income to shareholders was $87.9 million compared to a loss of $315.3 million. Second quarter revenues were $1.13 billion, a growth of 110.4% from last year.

For 2021, Embraer expects commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 units, consolidated revenues in a range of $4.0 billion to $4.5 billion, and adjusted EBITDA margin of 8.5% to 9.5%.