L’Brazilian aircraft manufacturer Embraerthe world’s third-largest aircraft manufacturer after Airbus and Boeing, reported a 25% increase in net profit adjusted in the second quarter of 2023, to $57.9 million.
Embraer’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $148.9 million, up 20% year-over-year and above initial guidance. which was $116.2 million.
Embraer also announced the delivery of 47 commercial aircraft in the quarter (compared to just 15 in the first quarter), which is seen as a positive sign by analysts who believe Embraer will meet its target of delivering up to 200 aircraft this year. The Brazilian aircraft manufacturer plans to deliver 65 to 70 airliners this year, compared to 57 in 2022, and between 120 and 130 business jets.
Embraer chief executive Francisco Gomes Neto told analysts on a conference call that he expected to take in new orders in the final months of the year, noting that several sales contracts were being discussed. With these favorable prospects, Embraer anticipates an increase in annual turnover of 27%, to reach between 5.2 and 5.7 billion dollars.
