MIAMI – Embraer reported revenues of US$958.1m with a year-on-year growth of 26.3% for 3Q21, according a manufacturer press release.
The release also showed an adjusted EBIT of US$35.7m and an adjusted EBITDA of US$79.2m. Embraer had an adjusted net loss of US$33.9m for 3Q21.
21 executive jets and nine commercial jets were delivered by the airframer in 3Q21, according to the release. Executive aircraft represent an integral component of sales for Embraer.
The Brazilian manufacturer previously reported strong performance for 2Q21. The company also received a substantial E195-E2 order from Porter Airlines (PD) in July while a turboprop is reportedly in development.
Flying Steady, Flying Higher
US$21.3m in free cash flow was generated by the manufacturer in 3Q21, representing “the first time in more than 10 years the Company generated cash in the usually seasonally weak third quarter,” according to the release.
Embraer concluded the third quarter with US$2.5bn in total cash and US$1.8bn in net debt, according to the release.
CommutAir (C5), an American regional airline with a fleet of ERJ-145 aircraft, signed on to a Pool Program with Embraer for repairable parts, according to the release.
The release also reported strong defense market performance, with new Super Tucanos being delivered to the Nigerian Air Force along with new maintenance agreements being signed for the Panamanian presidential aircraft and the Indian Air Force.
3Q21 has been a steady quarter for São José dos Campos, São Paulo-based Embraer, at a time of the year that has historically been difficult for the manufacturer, which keeps crescente.
Featured image: Embraer House Colors E195E2 PR-ZIQ. Photo: Fabrizio Spicuglia/Airways